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Disclosure Notice

 

DISCLOSURES REQUIRED IN TERMS OF THE FINANCIAL ADVISORY AND INTERMEDIARY SERVICES ACT 37 OF 2002 (“FAIS”)

Please read carefully

This notice does not form part of the Insurance Contract or any other document. It does however contain information which is in your interest. This notice is provided at the inception of each policy.

As a Long-Term Insurance Member or prospective Member, you have the right to the following information:

1. Claims Procedure

  • In order to claim, contact InsureAfrica Underwriting Managers (Pty) Ltd on 011 615 0170.
  • InsureAfrica Underwriting Managers (Pty) Ltd must be notified within 6 months of the claim event or such shorter period as may be stipulated in the policy. Late notification could result in rejection of a claim.

In the event that you are not satisfied with the outcome of your claim, you may write to the Complaints Department of InsureAfrica Underwriting Managers (Pty) Ltd within 90 days in which to make a representation directly to the Insurer.

If you are still not satisfied, you have an additional 6 months after expiry of the 90 days to institute legal action against InsureAfrica. You also have recourse to the Ombudsman for Long-term Insurance at Private Bag X45, Claremont, 7735. He may also be contacted on Telephone 0860 OMBUDS (0860 662 837) or (021) 657 5000,Fax: (021) 674 0951 and e-mail: info@ombud.co.za.

2. Complaints

a) Complaint about the policy

  • If you have a complaint about this Policy, first try to resolve it with the Intermediary (an intermediary is the person who sold this policy to you). If the matter cannot be resolved, you can submit a complaint in writing to the InsureAfrica Underwriting Managers (Pty) Ltd Complaints Department in writing, or on Telephone: 011 615 0170 and email: general@InsureAfrica.co.za.
  • In the case of dissatisfaction with any aspect of our services received, you have the right to lodge a complaint with Workers Life Assurance Company Limited, Tel: 0861 540 540.
  • If the matter is not resolved to your satisfaction you may submit your complaint in writing to the Office of the Ombudsman for Long-term Insurance at Private Bag x 45, Claremont, Cape Town, 7735. They may also be contacted on Telephone: 021 657 5000 / 0860 103 236. Fax: 021 674 0951 and e-mail: info@ombud.co.za

b) Complaint about how the product was sold. If you have a complaint you can contact Cubix Solutions (Pty) Ltd t/a Cubix in writing, or on Telephone No + 27 (0) 860 333 343

If you have a problem with the way the product was sold to you, the disclosures that were made to you or the advice that was given to you by the Intermediary, you must contact the Intermediary. If you are not satisfied with the reply, you may submit your complaint in writing to the FAIS Ombud at PO Box 74571, Lynwood Ridge, 0040. He may also be contacted on Telephone: 0860 662 837, Fax: (012) 348 3447 and e-mail: info@faisombud.co.za.

In the case of dissatisfaction, you have the right to lodge a complaint with Workers Life Assurance Company Limited, Tel: 0861 540 540.

Please note that the Administrator’s Complaints Resolution Policy and Procedure can be made available upon request.

3. The Insurer (The Risk Carrier With Whom Your Policy is Placed)

Workers Life Assurance Limited
Registration Number: 1993/004296/06
FSP Number: 392
PGC House, 273 Paul Kruger Street, Pretoria, 0001
Tel: (0861) 540 540

Compliance Department:
Tel: 0861 520 520, E-mail: compliance@workerslife.co.za

Complaints Department:
Tel: 0861 520 520, Email: complaints@workerslife.co.za

Workers Life Assurance Limited is a registered Insurer and an Authorised Financial Services Provider, licensed to provide advice and render financial services in respect of Long-Term Insurance subcategory A, B1, B2 and C.

4. The Intermediary

Cubix Solutions (Pty) Ltd t/a Cubix
Financial Services Provider Licence No: 42788
Postal Address : PO Box 1498, Umhlanga Rocks, 4320
Physical Address : 62 Umhlanga Ridge Boulevard, Parkside, Umhlanga 4319
Telephone No : + 27 (0) 860 333 343
FSP Licence Category : Short-term Insurance Personal Lines A1, Long Term Insurance Subcategory 1, Long Term Insurance Subcategory B1, Long Term Insurance Subcategory B1

Compliance Officer of Cubix Compliserve Kzn (Pty) Ltd
Name: Catherine Cooper of Compli-serve KZN (Pty) Ltd,  authorised practice, no 194
Physical Address:  65 Second Avenue, Harfield Village, 7708
Postal Address:   PO Box 2358, Clareinch, 7740
Telephone No:   0860 33 33 43
Email:   catherine@compliserve.co.za

Complaints Procedures: Should you have a complaint, or if you would like a copy of the Cubix Solutions (Pty) Ltd t/a Cubix Complaints Policy, call Client Services on 0860 333 343.

5. The Administrator/Underwriting Manager

InsureAfrica Underwriting Managers (Pty) Ltd
Registration Number: 2002/003777/07
VAT Number: 4780215374
FSP Number: 15059
H Santos Building, 2nd Floor North East Wing, 30 Arena Close, Bruma, 2198
Postnet Suite 432, Private Bag X 19, Gardenview, 2047
Tel: 011 615 0171
www.InsureAfrica.co.za

Compliance Department:
Moonstone Compliance (Pty) Ltd
Tel: (021) 883 8000. E-mail: ghancke@moonstonecompliance.co.za

Complaints Department:
Tel: 011 615 0171, E-mail: complaints@InsureAfrica.co.za

InsureAfrica Underwriting Managers (Pty) Ltd acts as an underwriting manager for Workers Life Assurance Company Limited in terms of a binder agreement. In terms of this agreement, InsureAfrica Underwriting Managers (Pty) Ltd may perform the following functions on Workers Life Assurance Company Limited’s behalf:

  1. Enter into, vary and renew policies;
  2. Determine the wording of policies;
  3. Negotiate the premiums;
  4. Negotiate the value of policy benefits;
  5. Settle claims.

InsureAfrica Underwriting Managers (Pty) Ltd is paid a binder fee of 20.0% for performing the abovementioned functions as well as a share in profits of the scheme.

InsureAfrica Underwriting Managers (Pty) Ltd is an Authorised Financial Services Provider in terms of the FAIS

Act and is entitled to render intermediary services and advise relating to Long-term insurance category 1 in respect of personal and commercial lines. The Administrator, who has a contractual relationship with the Insurer, hold professional indemnity and fidelity guarantee insurance.

InsureAfrica Underwriting Managers (Pty) Ltd is an authorised financial services provider in terms of the FAIS act and is licensed to render intermediary services and advice non-automated, relating to Long term Insurance Catergory 1 in respect of sub catergory A, B1, B2,B2-A,B1,A,C and intermediary services. The Administrator, who has a contractual relationship with the insurer, holds professional indemnity and fidelity guarantee insurance relating to Long-Term Insurance Category IV Assistance Business.

6. Conflict Of Interest Requirements

  • Workers Life Assurance Company Limited and InsureAfrica Underwriting Managers (Pty) Ltd have establish a Conflict of Interest Management Policy which is available on request from its Compliance Officers.
  • The Underwriting Manager has no shareholding in Workers Life Assurance Company Limited or any of its associated companies.
  • In order to meet regulatory requirements, financial or immaterial expenditure by and to Intermediaries as well as by or to our staff of the Insurer and Underwriting Manager are monitored.
  • Where potential conflicts of interest have been identified which do not have a direct impact on the Insured or the Underwriting Manager, internal structures are in place to manage and control such circumstances. Contact Person: compliance@InsureAfrica.co.za

Conflict of Interest: Please call Client Services on 0860 333 343 for a copy of Cubix Solutions (Pty) Ltd t/a Cubix’s Conflict of Interests Policy.

FIC declaration:
As an accountable institution, Cubix is compliant with the Financial Intelligence Centre Act (FICA). Should there be changes in your status, as defined by the FIC act:

  • Changes in your Domestic prominent influential persons (DPIP) and/or
  • Foreign Prominent Public Official (FPPO) status,

Kindly contact the client services division of Cubix Trading at 0860 333 343 or email them at client.services@cubix.co.za.

7. Telemarketer

If the Policy was sold to you by a telemarketer, recordings of the telephone discussion with the telemarketer can be made available to you upon request. Please contact the Administrator directly with your request.

8. Important Matters

  • It is very important that you are quite sure that the Policy meets your needs and that you feel that you have all the information you need to make a decision. Feel free to make notes regarding verbal information and ask for written confirmation or copies of documents.
  • Disclose all material facts accurately, fully and properly as incorrect or non-disclosure by you of relevant facts may influence an insurer on any claims arising from your contract of insurance.
  • You need to be satisfied with the accuracy of any transaction submitted by anyone on your behalf. All information provided by you or on your behalf is your own responsibility as this might have an impact on any future claim.
  • Nobody may ask or require you to waive a right that you have as a Member. Nobody may ask or require you to waive a right that you have as a Member.
  • The application, certificate of insurance and the policy wording must be read as one document.
  • A polygraph or any lie detector test may be required in the event of a claim. The failure of such test may not be the sole reason for repudiating a claim.
  • InsureAfrica Underwriting Managers (Pty) Ltd certifies that the intermediary mentioned in this disclosure has the relevant mandate to act on behalf of InsureAfrica Underwriting Managers (Pty) Ltd.
  • Your insurance may only be cancelled on 30 days prior notice which may be provided either directly to you or to your broker.
  • You are entitled to a 30-day period of grace after the due date for the payment of your premium.
  • By entering into this insurance contract, you acknowledge that the sharing of credit, claims and underwriting information by Insurers is essential to enable the insurance industry to assess risk fairly and to reduce the incidence of fraudulent claims. Consent is granted for information to be verified against other legitimate sources of databases.

9. The Long-Term Insurance Ombudsman

The Ombudsman is available to make determinations and, if necessary, rule against or in favour of the Insurer, in the event of claim problems, which are not satisfactorily resolved by the Insurance Intermediary, the Administrator and/or the Insurer.

Private Bag X 45, Claremont, Cape Town, 7735
Tel: 021 657 5000 / 0860 103 236, Fax: 021 674 0951
E-mail: info@ombud.co.za

10. The Fais Ombudsman

The Ombudsman is available to advise you in the event of complaints which relate to the Financial Advisory and

Intermediary Services Act, 37 of 2002 (“FAIS Act”) and which have not been resolved to your satisfaction.

PO Box 74571, Lynnwood Ridge, 0040
Tel: (012) 470 9080, Sharecall: 0860 324 766, Fax: (012) 348 3447
E-mail: info@faisombud.co.za

11. The Registrar of Long-Term Insurance

The Financial Sector Conduct Authority
PO Box 35655, Menlo Park, 0102
Tel: (012) 428 8000, Fax: (012) 347 0221

12. Warning

  • You the client, must disclose all material facts accurately, fully, truthfully and properly.
  • Do not sign any blank or partially completed application form.
  • Complete all forms in ink.
  • Keep all documents handed to you.
  • Make note as to what is said to you.
  • Don’t be pressurised to buy the product.
  • Misrepresentation, incorrect or non-disclosure by you of relevant facts may impact on any claims arising from your contract of insurance.