TSA Products
Our industry can be a minefield of terminology and fine print, but at TSA we like to keep things simple and simply put – if one of our insurers (Sanlam, Old Mutual, Capital Alliance or Hollard) has a benefit, then that’s a benefit we can get for you. For example…
Group Life Cover
This benefit would pay out in the event of the death of the main member and provides his/her family with financial security upon their death.
Education Cover
This benefit is designed to cover the costs of children’s education in the event of the main member’s death, up to an under-graduate degree.
Income Protection Disability Cover
An employee who is temporarily or permanently disabled might qualify for this benefit if it is assessed to be medically valid. This would mean that they would receive a percentage of their salary while they are unable to perform their occupation due to disability. This payment will continue until a member either:
- Recovers enough to return to work OR
- Passes away OR
- Reaches the NRA/benefit cessation age
Employer Waiver
An employer waiver is a rider benefit that can be added to Income Protection, Managed Income and Temporary Disability Income benefits. It allows an employer to insure contributions that THEY are making in addition to a salary. The employer does not pay contributions while the employee is not at work and the employee has peace of mind that these contributions are covered while they are on disability.
Lump Sum Disability Cover
Should a member become totally and permanently disabled, this cover will pay out a lump sum amount if it is assessed to be medically valid.
Medical Aid Premium Waiver Cover
The Medical Aid Waiver is a rider benefit and is used to cover the costs of the member’s medical aid contributions for a set period (usually 24 months). This is one less payment a disability claimant has to worry about while being away from work
Trauma Cover / Severe Illness / Critical Illness
This benefit pays out as a lump sum amount if a member has been diagnosed with a qualifying condition. The insurers offer Standard (pays out only once) or Comprehensive Cover (pays out once for more than one condition) and some insurers offer it as Accelerated or Standalone. Each insurer has their own criteria and list of conditions
Accident Cover (death and bodily loss)
If a member is involved in an accident which results in death or bodily loss (different options available with different insurers), this benefit would pay out as a lump sum amount
Spouse’s Cover (death and disability)
Depending on the cover chosen by the employer, should a member’s spouse pass away or become disabled, the benefit would pay a lump sum amount to the main member.
Funeral Cover
The funeral benefit offers payment to the member’s nominated beneficiary to assist with the cost of the funeral at the time of death. This benefit also covers the main member’s immediate family (spouse & children). Repatriation benefits are also available, as well as Extended Family Funeral with some of our insurers.
Employer Reimbursement Cover
This benefit allows an employer to be refunded if they continue to pay the potentially disabled member after the last date of active service and covers the waiting period, if the claim is successful.
