Product Basics
What is the main purpose of the Complete Income Protector?
It provides a monthly income during a period of disability
What is the minimum entry age listed for the product?
15 years next birthday.
What is the shortest selectable waiting period?
Seven days.
What happens to the premium for this benefit while a claim is being paid?
The premium is automatically waived
At what age does the Complete Income Protector Whole Life option's automatic cover change take place?
Age 70
Is the core benefit a once-off lump sum or a monthly income?
A monthly income. (Some lump-sum conversion options are available subject to conditions.)
What is the minimum monthly benefit amount listed?
R2,000
Name any three of the selectable waiting periods.
Any three of seven days, 14 days, one month, three months, six months, 12 months, or 24 months.
Does this benefit qualify for LifeReturns?
Yes
At age 70, what type of cover does the Whole Life option become?
Functional impairment cover.
Name the three claim assessment criteria described for determining a monthly claim amount.
Loss of income; severity of disability; severity of impairment or illness. The applicable calculation is subject to limitations.
What is the listed maximum monthly benefit amount for non-professionals?
R150,000, subject to certain limitations
Does the 14-day waiting period qualify for retrospective payments?
No. The fact sheet specifically excludes the 14-day waiting period from retrospective payments
For a benefit owned by a natural person, are the premiums tax-deductible and are the claim payments taxable?
Premiums are not tax-deductible; claim payments under this benefit are tax-free.
At age 70, what percentage of the previous benefit amount applies after the automatic cover change?
50%.
Under the severity-of-disability assessment, what percentage of the benefit amount may be payable?
Between 25% and 100%, based on inability to perform the main duties of the insured life own occupation. This assessment applies for the first year after the claim event (two years for professional occupations).
What is the listed maximum monthly benefit amount for professionals?
R200,000, subject to certain limitations.
Following rehabilitation, an insured life claims again for the same cause within three months. What happens to the waiting period?
The waiting period is waived.
After how many continuous months of payment of the full benefit amount does the policyholder qualify for a Partial Claim Upgrade?
Three continuous months.
Does the Whole Life option guarantee insurability at the age-70 cover change even if the client claimed previously or their health deteriorated?
Yes.
If an insured life is also receiving disability income from another insurance policy, what can happen to the Complete Income Protector claim payment?
The claim amount will be reduced in the circumstances described by the policy; disability income received from another insurance contract is a stated reduction factor
For a policy owned by an individual, must the policyholder and insured life be the same person, and how many Complete Income Protector benefits are permitted on a policy?
Yes, they must be the same person; only one Complete Income Protector per policy.
For critical-illness, is a payment provided for a six-month waiting period?
That specific table shows no defined critical-illness payment for waiting periods beyond three months. This does NOT mean all other disability claims are excluded.
Can a policyholder immediately convert up to one year's monthly claim payments into a lump sum as soon as total and permanent disability begins?
No. Permanency must be established, and the option is not available before the second claim anniversary.
If a client is receiving a claim payment when Whole Life cover changes at age 70, do payments continue without reassessment?
No. The claim is reassessed against functional impairment conditions; payments automatically continue only if the client still qualifies