Important Reminder – Monthly Member Data and Premiums

Premiums are due monthly in arrears on group schemes and so at the beginning of the month following the first month of cover (and at the beginning of every month thereafter) we will expect to receive a premium in respect of the scheme.

We also require a copy of the following member details, in Excel format, on a monthly basis:

  • First Name
  • Surname
  • Gender
  • DoB
  • ID Number (or Passport Number)
  • Annual Income / Monthly Income
  • Category
  • Membergroup e.g. Subcompany/Paypoint (if necessary)

This information is used to check:

  • that the premium is correct based on the accepted rate

and

  • which members have to submit medical evidence (this could be as a result of a new member joining the scheme or a member having a salary increase that pushes them above the proof free limit).

Our payments are processed on the 25th of every month and at this time the insurers are paid their premiums, brokers their commission and TSA their fees. Thereafter insurer schedules and broker statements are sent to the relevant parties detailing payments made.

Thank you and regards,

The TSA Team

You’ll find all back issues of TSA Connect by visiting our blog.

All information provided is intended to inform and explain, but please remember to always check the current terms on policies when considering options and advising clients.

(Vol. 7 Issue 13)

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