SILC

The principal life assured, policyholder and premium payer must all be the same person and must be a natural person.

This cover pays R1 000 on the birth of a stillborn child.

The waiting period for natural death is 6 months.

Only SA citizens and clients from the SADAC countres can take out this plan.

The client can select cover from R100 000 to R2 000 000 for Death or Permanent Disability.

The Permanent Disability Benefit pays a lump sum in the event that the client becomes permanently physically impaired.

The Permanent Disability Benefit will accelerate the Death Benefit.

The target market is the Retail Mass market, earning between R16k and R26k per month

The client has 2 months from lapse date to reinstate.

There is a 6 months waiting period for natural causes.

Only SA citizens and/or permanent residents with a valid SA ID may qualify for the product

The client is required to undergo medical testing.

There are however, 15 medical questions that must be answered.