All SACCAWU members qualify for risk benefits as selected at a participating Employer level.
Group Life Cover
Death benefit payable to your nominated beneficiary(ies) in the event of your death
Joe Block is a member of SACCAWU who earns R5 000 per month. Joe therefore earns an annual salary of R60 000 per annum. Joe would like to know how much cover his beneficiary(ies) is entitled to in the event of his death.
Group Life Cover: 4 x annual salary
Annual Salary : R60 000
Life cover : 4 x R60 000 = R240 000
Therefore, Joe’s beneficiaries are entitled to R240 000 in the event of his death. In addition to this, Joe’s beneficiaries will also receive his share of the Fund.
Spouses Life Cover
Death benefit payable to you in the event of your spouse’s death
Joe Block got married and needs to insure his spouse. Joe earns R5 000 per month which is equal to R60 000 per annum.
Spouses Cover: 1 x annual salary
Annual Salary : R60 000
Spouses Cover : 1 x R60 000 = R60 000
Therefore, Joe will be entitled to R60 000 in the event of his wife’s death.
Death benefit payable should you or a member of your immediate family pass away
Who is covered under this policy?
**The benefit pays for 1 spouses claim per review period.
What is the benefit?
|Children: Aged 14 – 21||R13 000|
|Children: Aged 6 - 13||R 7 000|
|Children: Aged 0 – 5||R 3 500|
|Stillborn from 26 weeks of pregnancy||R 3 500|
*children over 21 need to provide proof of being full time students in order to qualify under this cover until age 25.
Frequently Asked Questions
Disability Income Cover
Monthly income benefit that you will receive if you were to be disabled as defined in the policy while you are employed to the extent that you are incapable of performing your own and any alternative occupation as a result of a condition that arose from an injury or illness.
Is payment of the disability benefit guaranteed?
How is the disability benefit paid?
Joe Block has suffered a major stroke at age 35 and is no longer able to perform his occupation or a reasonable alternative. He applies for disability and his claim is approved. He currently earns R5 000 per month and therefore receives a benefit of:
Monthly income: 75% of monthly income = R3 750
VALUE ADDs TO MEMBERS
FUNERAL SUPPORT SERVICE
You, your spouse and dependent children qualify for the Funeral Support Service at no extra cost. The service allows for the transportation of the deceased by road or air from anywhere in the world to the funeral home closest to the place of burial in
South Africa or neighbouring countries: Namibia, Botswana, Zimbabwe, Lesotho, Swaziland and Mozambique (up to Vilakulo).
The service can be accessed at any time by calling 0860 000 500. Lines are manned 24 hours a day and caters for all 11 official languages
This benefit provides financial support for the family of a disability income claimant who dies. Old Mutual will pay a Cash4♥Ones lump sum benefit equal to three times your monthly income protection benefit should you die while receiving a disability income benefit from Old Mutual. This benefit is only payable if Old Mutual is in possession of a completed beneficiary nomination. Please ensure that your beneficiary details remain current.
You may contact the Fund should you have an immediate query.