The insured risk benefits implemented in December 2016, included a death benefit of 7 x annual pensionable salary, critical Illness benefit , income & lump sum disability benefit, hospital benefit and funeral cover of R40 000 for main member and his/ her spouse, R30 000 for children 14-21, R10 000 for children aged 0-13.
With effect from 1 June 2017 the previous insured benefits will be reinstated as follows:
· Death & Terminal Illness benefit of 3 times annual pensionable salary (the terminal illness benefit is an advance payment of the death benefit)
· Funeral cover will remain as follows:
R 20 000 for the main member and spouse R 20 000 for children aged 14 to 21
R 10 000 for children aged O to 13
R 10 000 for Stillborn