PYK Contract Summary and Disclosures including Continuous Amendments

Benefit Applicable terms (summary) Natural Death Accidental Death Therefore, the Waiting Periods in terms of the Funeral Policy and Dread Disease and Personal Accident Policy will indirectly affect the payment of the Basic Needs Benefit. Please refer to the Waiting Periods under the Funeral Policy and the Dread Disease and Personal Accident Policy. When will We not pay • When a Claim for Funeral Benefits in terms of the Funeral Policy has not been approved. • When a Claim Personal Accident Benefits in terms of the Dread Disease and Personal Accident Policy has not been approved. • When a Claim for Dread Disease Benefits in terms of the Dread Disease and Personal Accident Policy has not been approved. This means that the exclusions and limitations in terms of the Funeral Policy and Dread Disease and Personal Accident Policy will indirectly affect the payment of the Basic Needs Benefit. Please refer to the exclusions and limitations under the Funeral Policy and the Dread Disease and Personal Accident Policy. Additionally, the following limitations are applicable: • Shoprite Checkers Vouchers: o Vouchers may be redeemed at any Shoprite, Checkers, Checkers Hyper or Usave stores nationwide; o The Vouchers are not redeemable for cash, but may be transferred to another person if so elected by You or a Beneficiary. o Vouchers can only be redeemed in one transaction and that transaction total must be greater than or equal to the value of the Voucher. o Lost or stolen Vouchers will not be replaced or refunded. o Vouchers are valid for a period of three years from the date of issue. • Pick n Pay Vouchers: o Vouchers may be redeemed at any Pick n Pay store nationwide. o The Vouchers are not redeemable for cash, but may be transferred to another person if so elected by You or a Beneficiary. o Lost or stolen Vouchers will not be replaced or refunded. o Vouchers are valid for a period of three years from date of issue. When will Your cover cease • The Contact is cancelled; • You cease to be a Member of the Trust; • When You die; or • The Trust fails to pay the Premiums as a result of Your failure, as a Member to pay Your Membership Contribution, subject at all times to the Forgiveness Rules. Who can claim • You in the event of a Permanent Disability or a Dread Disease; or • Your Nominated Beneficiary in the event of Your Death. In terms of the Basic Needs Benefit Policy, Your Nominated Beneficiary may also nominate a secondary beneficiary to receive the Vouchers if the Nominated Beneficiary dies before payment of all 6 Vouchers. Documents required • BNBCN Form. • The same Claim Documents prescribed in terms of the Funeral Policy and the Dread Disease and Personal Accident Policy. • You do not have to submit the Claims Document in duplicate and consent to the same documents being used for the Basic Needs Benefit Policy. Information for Existing Members who were members of the Trust before 1January 2023 ("Effective Date")** • Existing Members are all Members of the Trust who were, as part of the Membership to the Trust, previously covered as assured lives in terms of group policies between the Trust and SDM for burial benefits, personal accident benefits and dread disease benefits (" the Previous Group Policies "). • Due to a change in the insurance laws, the Trust had to change the Membership rights of the Members as provided for in the trust deed of the Trust, read with the regulations issued in terms of the trust deed of the Trust. One of the changes required that the Previous Group Policies be terminated and replaced with individual insurance policies for the Members as Policyholders. • Accordingly, the Trust procured access to the Contract for all Members who satisfy the requirements for Membership to the Trust, whereby the Members, previously covered as assured lives under the Previous Group Policies, become Policyholders with rights against SDM as set out in the Contract. • With effect from Effective Date, all Members who were covered as assured lives in terms of the Previous Group Policies (" Existing Members "), will no longer be assured lives under the Previous Group Policies, but will become policyholders in terms of the Contract. • It is recorded that: o all Membership Contributions paid by an Existing Member to the ZCC before the Effective Date, as recorded in the Existing Membership Book , will be taken into consideration for purposes of the Contract; o all Membership Contributions missed by an Existing Member before the Effective Date, as recorded in the Existing Membership Book , will be taken into consideration as Missed Premiums for purposes of the Contract; o the Contract commences on the Effective Date. Notwithstanding the commencement of the Contract on the Effective Date, the date of inception of insurance cover in terms of the Policies, is deemed to be the date of commencement of cover under the Previous Group Policies; o any waiting periods completed and/or partially completed by You as assured life in terms of the Previous Group Policies, will be taken into account to determine the Waiting Period or any remaining portion thereof to be applied for purposes of the Policies; o any Membership Books (including all records relating to the payment history of Membership Contributions evidenced by receipts) issued by the Trust to an Existing Member before the Effective Date, shall remain in force, subject to any amended terms and conditions as contained in any endorsements issued by the Trust; o all MPP Forms and AMPP Forms completed before the Effective Date shall be accepted by SDM for purposes of the cover in terms of the Policies; o all claims for Benefits which arose under the Previous Group Policies shall – ▪ if submitted before the Effective Date, be dealt with in accordance with the terms of the Previous Group Policies; or ▪ if submitted after the Effective Date, will be dealt with in accordance with the terms of the Contract; and