Thari ya Baruti Terms & Conditions

59 20. Unclaimed Benefits 20.1 An unclaimed Benefit is when the Insurer becomes aware that there is a Claim for a Benefit to be paid, but the Beneficiary cannot be found to pay the Claim. 20.2 In such case, the Insurer will start the process of tracing the Beneficiary. 20.3 If the process does not match the rightful owner with the Benefit, the Insurer shall repeat the tracing process within a 3 (three) year period and again within 10 (ten) years if the Benefit remains unclaimed. 21. General 21.1 Save as is expressly provided for in this Thari ya Baruti Pukwana ya Kganya Contract, no provision of this Thari ya Baruti Pukwana ya Kganya Contract constitutes a stipulation for the benefit of a third person (i.e. a stipulatio alteri) which, if accepted by the person, would bind any Party in favour of that person. 21.2 A person shall not have a claim or right of action arising from any undertaking, representation or warranty not included in this Thari ya Baruti Pukwana ya Kganya Contract. 21.3 The grant of any indulgence, extension of time or relaxation of any provision by the Insurer under this Thari ya Baruti Pukwana ya Kganya Contract shall not constitute a waiver of any right by the Insurer or prevent or adversely affect the exercise by the Insurer of any existing or future right. 21.4 Other than as contemplated in clause 7.4.4 of Part IV, the rights and/or obligations under and to the Policies and/or any Benefits payable in terms of the Policies may not be ceded or assigned. 21.5 The Policies do not accumulate cash or a surrender value and may not be used to secure a loan. 21.6 This Thari ya Baruti Pukwana ya Kganya Contract constitutes the whole agreement between the parties as to the subject matter hereof and no conditions, stipulations, agreements, representations or warranties of whatsoever nature between the parties regarding the subject matter hereof other than those set out in this Thari ya Baruti Pukwana ya Kganya Contract are binding on the parties.  PART II: THARI YA BARUTI FUNERAL POLICY 1. Introduction 1.1 The Thari ya Baruti Pukwana ya Kganya Contract comprises Part I, this Part II, Part III and Part IV (in respect of Existing Members). 1.2 Part II constitutes a several and distinct Thari ya Baruti Funeral Policy which is offered to all Members of the Kganya Benefits Fund Trust, who are Policyholders in terms of this Thari ya Baruti Pukwana ya Kganya Contract. 1.3 All capitalised terms defined in Part I, bear the same meaning in this Part II. 1.4 All terms and conditions contained in Part I, and Part IV as they apply to Existing Members, are incorporated in this Part II, which collectively constitutes the Thari ya Baruti Funeral Policy between the Policyholder and the Insurer. 2. Thari ya Baruti Funeral Benefit 2.1 The Thari ya Baruti Funeral Benefit payable in terms of this Thari ya Baruti Funeral Policy is set out in Annexe E.2 , as amended from time to time, as provided for in Part I of this Thari ya Baruti Pukwana ya Kganya Contract, subject at all times to the maximum benefit amount prescribed in terms of the Applicable Laws in respect of an Assured Life. 2.2 The Trust shall pay - 2.2.1 the Premiums in respect of the Funeral Benefits; and 2.2.2 the Additional Premiums in respect of the Additional Funeral Benefits, as provided for in this Thari ya Baruti Funeral Policy, forming part of the Thari ya Baruti Pukwana ya Kganya Contract. 2.3 Upon the happening of an Insured Event, the Thari ya Baruti Funeral Benefit payable in terms of this Thari ya Baruti Funeral Policy will be paid by the Insurer to - 2.3.1 the Policyholder, in the event of – 2.3.1.1 the death of a Dependent Child as an Assured Life; or 2.3.1.2 the happening of a Stillbirth, and/or 2.3.2 the nominated Beneficiary in the event of the death of a Policyholder or a Paid-up Dependant. 2.4 It is recorded for the sake of clarity that: 2.4.1 the Funeral Benefits are payable in respect of all Assured Lives; and 2.4.2 the Additional Funeral Benefits are payable only in respect of the Policyholder as Assured Life, and any reference in this Thari ya Baruti Funeral Policy to the Thari ya Baruti Funeral Benefit, shall be applied in the manner set out above. 2.5 Thari ya Baruti Funeral Benefit in the event of Accidental Death 2.5.1 Subject to the Forgiveness Rules as provided for in clause 9.3 of Part I and Annexe E.5 , a Thari ya Baruti Funeral Benefit in respect of an Assured Life will only be paid upon the happening of an Accidental Death if - 2.5.1.1 1 (one) Premium and 1 (one) Additional Premium is recorded by the Insurer (or its duly appointed administrator, Kganya Insurance Administrators) – 2.5.1.1.1 with a Date of Payment in the Month preceding the Month in which the Date of Death occurred; or 2.5.1.1.2 with a Date of Payment in the Month of death, but before the Date of Death. 2.5.2 All Premiums and Additional Premiums recorded by the Insurer (or its duly appointed administrator, Kganya Insurance Administrators) shall be paid to the Insurer in accordance with the terms of the Premium Payment Agreement. 2.6 Thari ya Baruti Funeral Benefit in the event of death due to natural causes 2.6.1 Subject to the Forgiveness Rules as provided for in clause 9.3 of Part I and Annexe E.5 , a Thari ya Baruti Funeral Benefit in respect of an Assured Life will only be paid upon the death of an Assured Life due to natural causes if - 2.6.1.1 the Insurer (or its duly appointed administrator, Kganya Insurance Administrators) recorded a Premium and Additional Premium in respect of the Assured Life with Dates of Payment in each of the 3 (three) consecutive Months preceding the Month in which the Date of Death occurred; and 2.6.1.2 the Date of the Death is 91 (ninety-one) days after the Inception Date, being the Waiting Period, as provided for in clause 3 of this Part II. 2.6.2 All Premiums and Additional Premiums recorded by the Insurer (or its duly appointed administrator, Kganya Insurance Administrators) shall be paid to the Insurer in accordance with the terms of the Premium Payment Agreement.