Terms and conditions 1. The insurance cover is underwritten by Structured Risk Solutions a licensed microinsurer and authorised financial services provider conducting life insurance and registered insurer (Registration number 2016/233252/07, FSP No. 50618). 2. Your spouse or your other nominated dependents can keep this cover after your death: If you were to pass away, your surviving spouse or your other nominated dependents can choose to carry on with the policy and become the policyholder. They must contact SRS, within 31 days of your passing if they want to make this change. 3. Maximum entry ages: The maximum entry age is 84 for all policies. Children, stepchildren, or legally adopted children who reside with the policyholder are covered up to 21 years of age or older if the child is at a recognised tertiary educational institution. Satisfactory documentary proof must be submitted in this regard – police affidavits are not acceptable. 4. Number of dependent children allowed on your plan: Up to six own children are allowed on the contemporary benefits included in your premium as the Policyholder. Additional children can be added to your policy for an extra premium. The number of extended dependents you can add to your policy will depend on the plan that you’ve chosen. Please contact your funeral service provider for assistance with adding extended dependents. Still born of an extended member is not covered under this policy. 5. Waiting period: Your policy must be in place for a specific waiting period before you or your beneficiary can claim. The waiting periods on this cover are 6 months for new members, dependents, and re-joiners. No waiting period applies for reinstatements unless you were still in your waiting period when your policy lapsed. You will then have to complete the duration of the waiting period still outstanding. No waiting periods will apply if the Policyholder or dependents were to pass away in an accident if the first premium has been paid. Existing members who were insured by the previous underwriter will have to complete the duration of the waiting period still outstanding. 6. Payment of premiums must be paid in full and are payable monthly in advance on the Premium Due Date for the Cover enjoyed during that month. 7. Grace premium period: YMAC – Yelani Consultants (Pty) Ltd will cancel your cover and that of all your dependents if you don’t pay your premiums for one month. No claim will be settled after the grace premium period unless premiums are up to date. If the Premium is not received on the Premium Due Date or within the Grace Period, the Policy will lapse after expiry of the Grace Period and no benefits will be paid. 8. Lapsing: Your cover will lapse one (1) month after grace premium period if no premium is received. The insurer will not accept liability for the claims submitted in respect of lapsed policies. You can reinstate the policy by resuming premium payments within two months of the last premium payment, as long as all arrear premium payments are made. No waiting periods will apply for reinstatements. 9. How you’ll pay your premium: You can pay your premiums using a debit order, stop order or cash. Payments must be made by the 7th of every month. There are other methods you can use to pay your premiums. Please contact us to find out more. 10. How to claim: You must submit your valid claims to YMAC – Yelani Consultants (Pty) Ltd on claims@ymac.co.za within six (6) months from the date of the claim event. You must give YMAC – Yelani Consultants (Pty) Ltd all the required documents before YMAC – Yelani Consultants (Pty) Ltd can process your claim. 11. You must provide us with accurate information: YMAC – Yelani Consultants (Pty) Ltd will cancel your policy immediately and will not pay any claims if they find out that you intentionally gave false or inaccurate information. It is your responsibility to update your information with us when it changes. 12. Maximum cover amounts: The amount you can be paid out under this policy is limited to a maximum rand amount; this will depend on the plan you’ve chosen. 13. Claims process: Please contact YMAC – Yelani Consultants (Pty) Ltd for assistance in the event of a claim. They’ll provide you with all the necessary forms you need to complete. You must supply YMAC – Yelani Consultants (Pty) Ltd with the following documents: a) A fully completed YMAC – Yelani Consultants (Pty) Ltd claim form. b) A certified copy of the official death certificate c) A certified copy of the deceased’s ID document d) A certified copy of the ID document of the person making the claim. e) A fully completed SAPS statement if applicable. f) A notification of death form (BI 1663) completed by the doctor who certified the death or an affidavit. g) In the case of a stillbirth, you need to give YMAC – Yelani Consultants (Pty) Ltd a notification of the stillbirth (BI 1663) or a copy of the antenatal card, or a letter from the hospital, or a letter from your traditional leader. Proof of banking details of the beneficiary 14. Cancelling or replacing your policy: You can cancel your policy. You’ll lose all your benefits if you cancel the policy. You must give YMAC – Yelani Consultants (Pty) Ltd one month’s notice before the effective date of the cancellation. 15. General exclusions: YMAC – Yelani Consultants (Pty) Ltd will not pay your claim in the following circumstances: a) Suicide or attempted suicide within the first 12 months of the beginning of the policy or cover, whether the insured life is of sound or unsound mind. b) Participation in any terrorist activity, riot, civil commotion, rebellion or war leading to injury of death. c) Wilful and deliberate breaking of any criminal law leading to injury of death. d) Death as a result of nuclear, biological and chemical terrorism and nuclear accidents. e) The death of an unborn child due to the termination of a pregnancy (abortion). 16. How to make changes to your policy: Please contact YMAC – Yelani Consultants (Pty) Ltd if you would like to make any changes to your contract or your contact information on 071 452 9999 or info@ymac.co.za 17. Premium reviews period: The insurer reserves the right to review and adjust premium and premium growth patterns as and when its necessary and a 31 days notification will be issued when effecting premium increases. 18. Complaints: Please contact YMAC – Yelani Consultants (Pty) Ltd for any complaints on 071 452 9999 or Email: info@ymac.co.za If we’re still not able to resolve the problem, you can contact the following for help: If we’re still not able to resolve the problem, you can contact the following for help: National Financial Ombud Scheme South Africa NPC (the NFO), Company Registration No.: 2023/162407/08, VAT Reference No.: 4080315593 Head Office, Postal Address and JHB Physical Address: 110 Oxford Road, Houghton Estate, Illovo, Johannesburg, 2198. CPT Physical Address: Claremont Central Building, 6th Floor, 6 Vineyard Road, Claremont, 7708. Tel: 0860-800-900 | Email: info@nfosa.co.za | Website: www.nfosa.co.za National Financial Ombud Scheme South Africa NPC (the NFO: The National Financial Ombud Scheme (NFO) is an external complaint resolution ombud scheme established to resolve Complaints by Complainants about Participants. 19. When your cover will start: Your cover will only start on the 1st day of the current month by the 7th of the current month. If we receive premiums after the 7th of that month, then the cover will start on the 7th of the following month. You won’t have cover if we don’t receive your first premium. Any waiting period that applies to your policy will start running based on when you have paid your first premium. Structured Risk Solutions reserves the right to decline your application within 31 days of you applying for cover. 20. Cooling off period: If we have accepted your application for the policy and you change your mind about this policy, you have 31 days from the start date of your policy to cancel it. If you cancel your policy within this period, YMAC – Yelani Consultants (Pty) Ltd will refund your premium. Please contact YMAC – Yelani Consultants (Pty) Ltd at info@ymac.co.zaor call 071 452 9999 for details on how you can cancel your policy. 21. Replacement of lives assured: No replacement of lives assured will be allowed unless the replaced life assured is a former spouse. In such an instance proof of the applicable court order will be required. 22. Cover for newborn: The Policyholder must apply for cover for new-born children. Failure to do so will render such children uncovered under the scheme. Application to add the new-born child onto your existing Policy must be submitted to SRS in writing within ninety (90) days from the date of birth of the new-born child. 23. Policy owner declaration Your funeral policy is underwritten by Structured Risk Solutions (Pty) Ltd. The policyholder mandate Structured Risk Solutions to find favourable insurance cover from time to time or as and when required. The policyholder further is obligated to ensure that their contact details are up to date and if not updated, previous contact details will be used for any communication. The policyholder will contact Structured Risk Solutions to update the contact details. 24. Protection of your personal information We will keep any information – including personal information relating to you, your dependents, lives insured, and beneficiaries – supplied to us when applying for your policy, reinstatement, or any amendment (“your personal information”), confidential. When providing us with your personal information, and information on your dependents, lives insured, and beneficiaries, you must make sure that they have provided you with the appropriate permission to disclose their personal information to us for the purposes set out below and any other related purposes. We may collect, collate, process, store, and disclose your personal information for the purpose of: Administering this policy and for the assessment of any claims; Providing relevant information, including your personal information, to contracted third parties who need the information to offer you a service in relation to this policy, provided that the contracted third party agrees to keep the information confidential; Please note we may change this notice from time to time. In this regard, please visit our website at www.ymac.co.za. You have the right to object to the processing of your personal information. If you believe that we have used your personal information contrary to applicable law, you must first raise any concerns with us. If you are not satisfied with our process, you have the right to lodge a complaint with the Information Regulator at inforeg@justice.gov.za