ZIS is an international life assurance company providing cover against the financial impact of serious injury or death, depending on the benefits selected by the life assured.
Anyone between 18-65 years of age is eligible for the cover. Scheme covers main member, spouse and up to six (6) children, extended family members are allowed at an additional cost.
Cover for the member’s children applies until they finish their studies or reach the age of 24 years, whichever is earlier. Where a dependent child is a full-time student, they will have cover to the age of 24 years upon provision of proof of admission to a tertiary institution for full time students.
Disabled children who are financially dependent on their parents will continue to enjoy cover, regardless of their age, upon provision of proof of the disability and financial dependence.
Policy benefits range from R1, 250 – R30,000 depending on selected sum assured and ages of the covered member. Payment on the death of the covered member will be equal to the sum assured selected.
A general waiting period of six months applies to all new members joining the scheme under the age of 65 for all natural deaths. No waiting period applies to accidental death.
Claim payout is made to the beneficiaries nominated by the life assured, where beneficiaries have not been nominated, the pay-outs will go to the member’s estate, where a representative of the member selects a funeral service, the pay-out will go to the funeral parlour delivering the service.
Cover is in South African Rands and premiums are payable in the same currency.
We guarantee the premium rates that we’ll use for monthly premium calculations for a period of 24 months from the policy start date. After the first three months, Zimnat will have the right to change these premium rates, notifying the client in writing at least one month in advance of the effective date of any premium rate change.
Premiums are due in arrears on the last day of every month, Where client fails to pay the monthly premium on time, we’ll allow a 30-day grace period for the outstanding payment to be paid. If the premium is still outstanding after the 30 days, we’ll automatically suspend the cover from the date on which the last premium was paid in full.
Any exceptions to this must be agreed in writing, Zimnat will charge interest on late premiums based on the current lending rate published by First National Bank, Interest applies from the date on which the grace period expired to the date on which we receive the outstanding premium.
Zimnat will not pay funeral claims related in any way to any of the following causes:
- Taking part in war, terrorism, invasion, seizing of power, overthrowing or influencing any government by force;
- Committing a crime involving the intended theft, damage or loss of another individual’s property, or a crime involving violence, abuse or any form of harm to another individual, where the client is convicted of the crime.
For death claims we require the following;
- Completed Zimnat death claim form
- Certified copy of the death certificate
- Copy of death notice (BI 1663 – Forms A and B, validated by the doctor or hospital issuing the notice)
- Certified copies of the ID documents of the member, the deceased, and beneficiaries ( if it’s an ID card, we require a certified copy of both sides of the card)
- Valid proof of bank details of the beneficiaries, e.g, a certified bank statement or a certified letter from the bank issued within the past three months,
- Copy of the marriage certificate, in the case of deceased spouse
- For stillbirths, confirmation of the pregnancy term
- For any child who is a full-time student, proof of registration from the relevant institution
- For the death of a disabled child, a report from their treating doctor
- For accidental death, an accident report from the SAPS
For accidental impairment claims we require the following;
- Completed Zimnat claim form
- Certified copy of ID document (if it’s an ID card, we need a certified copy of both sides of the card)
- Valid proof of bank details, e.g, a certified bank statement or a certified letter from the bank issued within the past three months,
- An accident report from the SAPS
We must receive the claim within six months of the claim event or of the member passing.