Thari ya Baruti Terms & Conditions

55 6.6 If any period is referred to in this Thari ya Baruti Pukwana ya Kganya Contract by way of a reference to a number of days or weeks or months or other intervals, the period shall be reckoned exclusively of the 1st (first) day and inclusively of the last day of the relevant interval, unless the last day falls on a day which is not a Business Day, in which case the last day shall be the next succeeding Business Day. 6.7 This Thari ya Baruti Pukwana ya Kganya Contract shall be governed, interpreted and enforced in accordance with the laws of the Republic of South Africa from time to time. 6.8 If amounts or figures are specified in numerals and in words and if there is any discrepancy between the numerals and the words, then the words shall apply. 7. Insurance cover 7.1 Insurance cover is available to the Assured Lives as set out in the Thari ya Baruti Funeral Policy and the Thari ya Baruti Dread Disease and Personal Accident Policy, respectively. 7.2 Subject to the provisions of clause 6 of Part IV insofar as it relates to insurance cover for Existing Members, insurance cover in respect of the Assured Lives commences on the later of the date on which the Policyholder, acting as a prospective Member - 7.2.1 completed the MPP Form and purchased a Membership Book; or 7.2.2 paid the initial Membership Contribution to the Kganya Benefits Fund Trust, on which date the Member accepts the offer for insurance cover and Benefits in terms of this Thari ya Baruti Pukwana ya Kganya Contract, being “ the Inception Date ”. The Insurer waives the requirement to receive notification of acceptance of the offer. 7.3 In the event that a Dependent Child is born after the Inception Date, the cover in respect of such Dependent Child shall commence on the date of birth, subject to compliance with the provisions of clause 12.3 of this Part I. 7.4 Payment of Benefits shall at all times be suspended until the Insurer receives the first Premium and first Additional Premium payable by the Kganya Benefits Fund Trust in respect of a Policyholder, subject to the terms of the Premium Payment Agreement. 7.5 The Policyholder shall at all times update his personal particulars if any change occurs in respect of the information provided in the MPP Form, by completing an AMPP Form. 7.6 Cover in terms of the Policies shall cease as set out in Part II and Part III below. 8. Benefits 8.1 The Benefits payable in terms of this Thari ya Baruti Pukwana ya Kganya Contract are set out in – 8.1.1 Part II in respect of the Thari ya Baruti Funeral Policy; and 8.1.2 Part III in respect of the Thari ya Baruti Dread Disease and Personal Accident Policy, and shall be paid as set out in Part II and Part III, respectively. 8.2 In order to qualify for payment of the Benefits, the Premiums and the Additional Premiums must be paid in respect of the Policies as set out in – 8.2.1 clause 2.5 and clause 2.6 of Part II as it applies to the Thari ya Baruti Funeral Benefit in terms of the Thari ya Baruti Funeral Policy; and 8.2.2 clause 3.4.1 of Part III as it applies to the Dread Disease Benefits in terms of the Thari ya Baruti Dread Disease and Personal Accident Policy; and 8.2.3 clause 8.6.1 of Part III as it applies to the Personal Accident Benefits and the Additional Personal Accident Benefits in terms of the Thari ya Baruti Dread Disease and Personal Accident Policy, subject at all times to the Waiting Periods as set out in Part II and Part III, respectively and/or the provisions of clause 3.1.4 of Part IV in respect of Existing Members. 8.3 The Insurer shall not allow any deductions from the Benefits by any party. 8.4 The Insurer shall at all times be entitled to amend the Benefits, by way of 31 (thirty-one) days’ written notice to the Policyholder. 9. Payment of Premiums and Additional Premiums 9.1 General 9.1.1 The premium payer of the Premiums and the Additional Premiums due in terms of the Policies, is the Kganya Benefits Fund Trust. 9.1.2 The Premiums and the Additional Premiums payable in terms of the Policies are specified in Annexe E.1 . 9.1.3 The Premiums and the Additional Premiums must be paid in full and are due Monthly in advance on the Due Date for the cover enjoyed during that Month. 9.1.4 The Kganya Benefits Fund Trust shall only pay the Premiums and the Additional Premiums in respect of the Policyholder in terms of the Policies if - 9.1.4.1 the Policyholder qualifies as a Member in terms of the Master Regulations, read with the Enhanced Benefits Regulations; and 9.1.4.2 without limitation to the provisions of clause 9.1.4.1 above, the Policyholder has paid his Membership Contribution to the Kganya Benefits Fund Trust. 9.1.5 In the event that any of the above conditions in clause 9.1.4 of this Part I are not met, the Kganya Benefits Fund Trust shall not be obliged, and shall no longer pay, the Premiums and the Additional Premiums to the Insurer in respect of the Policyholder, until such time as the Policyholder resumes payment of his Membership Contribution to the Kganya Benefits Fund Trust, as provided for in the Master Regulations, read with the Enhanced Benefits Regulations. 9.1.6 Payment of Premiums and the Additional Premiums shall at all times be made in accordance with, and subject to, the terms of the Premium Payment Agreement, which Premium Payment Agreement can be made available on request. 9.1.7 Payment of the Premiums and the Additional Premiums by the Kganya Benefits Fund Trust does not entitle the Kganya Benefits Fund Trust to any rights in terms of this Thari ya Baruti Pukwana ya Kganya Contract nor entitle it to any Benefits. 9.2 Review of Premiums and Additional Premiums 9.2.1 The Insurer shall review the Premiums and the Additional Premiums payable at least annually to ensure that the Policies remain actuarially sound. 9.2.2 Without limitation to the provisions of clause 9.2.1 of this Part I, the Insurer shall review and change the Premiums and the Additional Premiums at any time if there are reasonable actuarial grounds to do so, or where the review is required in the interest of the Policyholder, subject at all times to the Applicable Laws. 9.2.3 Without limitation to the provisions of clause 9.2.1 or clause 9.2.2 of this Part I, the Insurer reserves the right to review and change the Premium and the Additional Premium at any time upon the occurrence of any of the following events: 9.2.3.1 if the Membership Contributions change; and/or 9.2.3.2 if the claims ratio exceeds 80% (eighty percent) in respect of all Policyholders.