Funeral Cover Terms and Conditions


1. I hereby apply for this Policy and accept the terms and conditions, exclusions and applicable waiting periods of the Policy.

2. I have not been coerced into this Policy and make application of my own volition on the basis that this Policy meets my needs, is affordable, and is necessary to enhance my current insurance portfolio.

3. I understand, consent to and accept that a full policy document will be sent to me within 31 (thirty-one) days from acceptance of this application form including a Policy Schedule which shall confirm my personal details, chosen benefits and claims procedures (as intended in section 48 of the Long-Term Insurance Act) will be e-mailed to me. In accordance with Rule 4 of the Policyholder Protection Rules,
3.1 I understand that I will have a cooling-off period of 31 (thirty-one) days from receipt of the section 48 summary to cancel this policy. If this policy is cancelled within 31 days, any payment that has been received will be refunded provided no claim has been lodged or any benefit paid.
3.2 I am aware of the waiting periods applicable to this policy and I understand that if I am replacing existing cover that has been active in the 31 (thirty-one) day period before this application, and where such waiting period on the existing policy has expired that I will have the waiting period for natural death on this policy waived. I confirm I am able to provide proof of such existing cover that has been active and is being replaced with this policy.

4. I, the undersigned, hereby declare and warrant that all information supplied herein is true and complete.

5. I am aware and understand that any non-disclosure or misrepresentation of information, which is material to the determination of the risk by Guardrisk Life Limited, may lead to the policy being declared null and void.

6. I can confirm that this Policy for which I am applying meets my needs and feel that I have all the necessary information in order to make an informed decision in respect of the purchase thereof. I understand that this Policy is underwritten by Guardrisk Life Ltd.

7. Guardrisk subscribes to the Unclaimed Benefit standard.

8. I further understand that my privacy is of utmost importance to Oyi and that Oyi and its partners will take the necessary measures to ensure that any and all information, including my Personal Information (as defined in the Protection of Personal Information Act 4 of 2013) provided by myself or which is collected by Guardrisk is processed in accordance with the provisions of the Protection of Personal Information Act 4 of 2013 and will be stored in a safe and secure manner.

9. I therefore hereby agree to give honest, accurate and up-to-date Personal Information and to maintain and update such information when necessary. I further accept that my Personal Information collected by Oyi and its partners may be used for the following reasons:
9.1. To establish and verify my identity in terms of the Applicable Laws;
9.2. To enable Oyi and its partners to fulfill its obligations in terms of this Policy;
9.3. To enable Oyi and its partners to take the necessary measures to prevent any suspicious or fraudulent activity in terms of the applicable Laws; and
9.4. To report to the relevant Regulatory Authority/Body, in terms of the Applicable Laws.

10. I acknowledge that any Personal Information supplied to Oyi and its partners in terms of this Policy is provided according to the Applicable Laws.

11. By accepting this Policy, I further acknowledge that such conduct constitutes an unconditional, specific and voluntary consent to the processing of my information by Oyi and its partners under the Applicable Laws in the manner contemplated above, which consent shall, in the absence of any written objection issued by myself, be definite and/or for the period otherwise required in terms of any Applicable Laws.

12. Unless consented to by yourself, Oyi and its partners will not sell, exchange, transfer, rent or otherwise make available your Personal Information (such as your name, address, email address, telephone, cell or other detail, including any banking details) to any other parties and I indemnify Guardrisk from any unintentional disclosures of such information to any unauthorized persons.

13. if Oyi and its partners has utilized my Personal Information contrary to the Applicable Laws, I have the right to lodge a complaint with Oyi within 10 (ten) days. Should Oyi not resolve my complaint to my satisfaction, then I have the right to escalate a complaint to the Information Regulator.

14. I have an initial 31 (thirty-one) day cooling-off period in which to cancel the Policy and be refunded any paid premium provided no Claim Event has occurred or any benefit paid.

15. Oyi and its partners may immediately cancel this Policy or place it on hold, refuse any transaction or instructions, or take any other action considered necessary in order to comply with the law and prevent or stop any undesirable or criminal activity.

16. Six (6) months waiting period for natural death is applicable on the all product options

17. Twelve (12) month waiting period for Suicide.

18. No Waiting Period for accidental death.

19. Only 1 (one) policy is allowed per main insured.

20. Only 2 (two) spouse’s per policy

21. Only 6 (Six) children per policy

22. Only 8 (eight) extended family members

23. Only 4 (four) parent members per policy

24. A maximum of 1 (one) policy per insured life can be in force at any one time.

25. A beneficiary must be nominated on this application form.