BM Innovative Solutions is a Juristic Representative of BrokerBuddy Life (Pty) Ltd, an Authorised Financial Service Provider. FSP 47806
BrokerBuddy Life (Pty) Ltd is an Authorised Financial Services Provider: FSP 47806, and a binder holder of King Price Life Insurance Limited (King Price Life), a licensed insurer in terms of the Insurance Act of, 2017, Registration Number 1948/029011/06 (Authorised FSP: No 47235). King Price Life underwrites the Funeral Cover, known as the Insured Benefit.
The Added Benefits
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3 Payouts after death of the parent(s) to assist with Children's Education
Cash is available within 48 hours of death to assist with funeral-related costs.
*Subject to all documents being received by the insurer.
Immediate Assistance for Children with emotional stress or mental health-related issues.
Immediate Assistance for Children with Education.
Divorce & Family Mediation
Parental Support
Assistance with drafting a will
Payment Options
Debit Order
Pay@
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Pay@ is acceptable at any Money Market counters of Shoprite, Checkers, Checkers Hyper, Usave, House & Home, PeP Stores, Ackermans, SPAR, Pick n Pay, Boxer and many others.
BuddyCare Funeral Cover
Cover Payout & Restrictions
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R5,000 Funeral Benefit Per Parent
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An added income benefit for education or education-related costs.
R10,000 per annum for 3 years, or
R15,000 per annum for 3 years, or
R20,000 per annum for 3 years.
Maximum Education Benefit Members
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One or Both Parents.
Waiting Periods & Cover Start Date
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Natural/Unnatural Death that is not an accident - 6 Months
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Accidental Death - No waiting periods, provided the first premium has been received by the insurer
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Suicide - 12 Months
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The Cover Start Date is the first day of the calendar month following the date that the Premiums are received by the Insurer in respect of the Main Member for the first time. This is the date that the waiting period commences.
Education Benefit
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Once the children have completed their studies, parents can convert the income benefit (the three annual payouts) of an active BuddyCare Education policy into funeral benefits.
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This will not be done automatically.
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The Policyholder is responsible for informing the Underwriting Manager of the amendment.
Payments & Non-Payment
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Premiums are due in advance on the 1st of each month.
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Should one premium not be received on the premium due date, which is the 1st of the month, such policy will be regarded as in arrears and, in case of a claim, the value of the outstanding premium will be deducted from the claim amount.
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Should a second premium not be received on the subsequent premium due date, which is the 1st of the following month, such policy will lapse, and cover will cease after a grace period of 15 days in terms of Rule 15A.1(a) of the PPR. The effective lapse date will be the 15th of the second month.
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The policy will be issued on receipt of your first premium. We will distribute your policy schedule and terms and conditions to you electronically via your preferred communication method, including how to claim.
