Spectrum Assist Pty (Ltd) Death Benefit Plan

1. About Us

1. Spectrum Assist Pty (Ltd) is an authorized Financial Services Provider (FSP No. 12345) (replace 12345 with a valid FSP number).

2. Death benefit products are underwritten by [Insurance Company Name] (FSP No. [FSP Number]) (replace with details of your underwriter).

2. Policy Coverage

1. This plan offers a fixed cash benefit upon the death of an insured person.

2. It covers South African citizens regardless of their death's location.

3. For foreigners, coverage applies only within South Africa's borders, with proof of death required.

3. Plan Details

1. The maximum cover amount is specified in your policy schedule.

4. Entry Age Limits

1. The policyholder's minimum entry age is 18 years old, with a maximum of 64 years old.

2. The maximum entry age for a parent is 74 years old.

5. Who is Covered

1. You, your spouse, and up to 5 unmarried dependent children under 18 (listed in the schedule) are covered.

2. Optionally, a maximum of 4 parents can be added (see clause 20).

6. Monthly Plan and Payment Terms

1. You must pay the monthly premium (specified in your policy schedule) in advance.

2. The policy automatically renews every month until canceled.

3. Weekend or public holiday payments may be processed slightly before or after the scheduled date.

4. A 20-day grace period applies for overdue payments. Unpaid premiums will be deducted from the benefit amount.

5. If your premium is unpaid for 2 consecutive months, the "Protector" benefit automatically applies. This reduces coverage to you and your spouse, with a lower maximum cover amount.

6. You can reinstate a canceled policy within 2 months, but new waiting periods may apply.

7. Premiums paid during unpaid periods will be deducted from the applicable benefit amount in the event of a death claim.

8. A 4-month premium holiday is available if you become unemployed after 24 consecutive months of premium payments. Premiums for this period will be deducted from the benefit amount in the event of a death claim during the holiday.

7. Policy Cancellation

1. You can cancel your plan within the 31-day cooling-off period after receiving the policy document, with a potential refund of premiums.

2. Cancellation after the cooling-off period can be done by calling us at [Phone Number] or sending a written request to [Email Address] (replace with Spectrum Assist contact details). The policy is automatically canceled if your debit order is unpaid.

3. We can also cancel the policy with 31 days' written notice without providing a reason.

4. The policy automatically terminates upon notification of the policyholder's death.

8. Waiting Periods

1. There is no waiting period for accidental death.

2. A 6-month waiting period applies for death due to natural causes, along with 6 consecutive premium payments from the first payment date.

3. A 12-month waiting period applies for death due to suicide, along with 12 consecutive premium payments from the first payment date.

4. If you had a similar death benefit plan with another insurer within the last 31 days before this policy began, the waiting period may be waived or reduced.

5. New family members added to your plan will have their own waiting periods calculated from their first premium payment.

6. For surviving spouses, a waiting period may be waived upon taking out a new policy with us, subject to clause 19.

9. Exclusions

1. The policy does not cover death resulting from or related to:

   1. Mass action or protest

   2. Nuclear, war, or civil unrest

   3. Substance abuse

   4. Criminal acts

   5. Reckless endangerment

   6. Fraudulent claims

2. You are responsible for the accuracy and completeness of all information provided.

10. How to Report Claims

1. We must be notified within 3 months of the death of an insured person.

2. Contact our Customer Service Department at [Phone Number] or [Email Address] (replace with Spectrum Assist contact details) for a claim sheet and a list of required supporting documents.

3. Claims may be repudiated if premiums are in arrears at the date of death.

4. With the exception of accidental death, claims may be repudiated if a waiting period applies.

5. We have the right to investigate the claim.

6. Claim approval is required in writing and cannot be confirmed verbally or over the phone.

7. Provided we have received the completed claim sheet with all supporting documents, claims may be paid within 24 hours of approval, excluding weekends and public holidays.