Key Requirements Series – Scheme Accounts

Monthly maintenance of member data and premiums are handled by our Scheme Accounts team.

The key information they need is:

  1. Member Data (in Excel Format) i.e. member’s full name(s), gender, dates of birth, ID number, annual and/or monthly salary, category and any other relevant information. For ease of use, you can download our excel member data template
  2. Premiums – paid into the relevant bank account, according to the correct rate/s and with the appropriate reference number used (e.g.SP-0508 or HO-0124).

The above information is used to:

  • Confirm members (and spouses*, if applicable) on risk
  • Determine if members (and spouses, if applicable) require medicals for cover in excess of the proof-free limits or previously accepted covers.
  • Reconcile the premiums paid with those expected, to keep the scheme’s account up to date.

*For Sanlam specific schemes: if Spouses Cover is included in the structure we also require confirmation of marital status (single, married or co-habiting) as well as spouse name and date of birth.

The scheme accounts administrator for each group is noted in the acceptance/review letters and they are happy to help with any scheme related queries.

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. 8 Issue 5)

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