Product Overview Series – Spouse’s Cover (Death and Disability)

Product: Pays an amount should the spouse of a member die or become totally and permanently disabled.

Particulars:

  • Spouse’s Death Cover is available with Capital Alliance, Hollard, Old Mutual and Sanlam.
  • Spouse’s Disability Cover (lump sum) is available with Capital Alliance, Old Mutual and Sanlam.
  • Conversion option is available with Capital Alliance, Old Mutual and Sanlam. Hollard assess on a case-by-case basis at quote stage.
  • Medicals are not required for underwriting of Spouse’s Cover with Capital Alliance and Old Mutual.
  • Hollard and Sanlam can offer a proof-free limit if membership meets requirements and they will underwrite cover in excess of this.  Sanlam also require medicals for cohabiting spouses even if their cover is below the proof-free limit.

Current Maximums:

Spouse’s Death Cover:

  • Capital Alliance – 2 x Annual Salary or R2.5m
  • Hollard – 2 x Annual Salary or R3m
  • Old Mutual – R2m
  • Sanlam – 2 x Annual Salary or R8m

Spouse’s Disability Cover:

  • Capital Alliance – 2 x Annual Salary or 1.5m
  • Hollard – Not Applicable
  • Old Mutual – On request only
  • Sanlam – 2 x Annual Salary or 1.3m

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 26)

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