ILLUSTRATIVE QUOTATION
ALTRISK LIFE PORTFOLIO
Prepared for
Phone No.
: Lawrence Blake - Blake and Els Wealth and Risk Management
: (011)609-7647
Fax No.
: (086)682-6081
Insured
: Mr Fred Flintstone
: a Male Non Smoker
Date of Birth
Occupation
Income
: 25 000 p.m. +
Qualification
: 01/01/1965
: Consultant (90%
- 100% office bound)
: Matric
Commencement Date
Guarantee Period
: 01/11/2009
: Fixed
Premium Pattern
Voluntary Escalation
: Age Rated
: Nil
BENEFIT DESCRIPTION
STAND
ALONE
Life Cover
BENEFIT
AMOUNT
MONTHLY
PREMIUM
PREMIUM
TERM
GTEE
TERM
R1,000,000
R209.17
Whole life
15 yrs
R1,000,000
R225.00
Whole life
15 yrs
Bonus Benefit - Family Funeral
Comprehensive Disability (own)
Y
Flexible Cover Facility (Personal)
TOTAL PREMIUM
R434.17
Alternative premium structures
Premium pattern:
Fixed guarantee period
Experience rated
Level premium
R 752.43
R 713.72
5% Compulsory
R 538.23
R 510.62
Age Rated
R 434.17
R 412.51
Notes
1
2
3
4
5
6
This policy is underwritten by Hollard Life.
This quotation is for illustrative purposes only. A final quotation will only be produced on receipt of a
fully completed application form and the required medical evidence.
This quotation is only valid for 30 days.
This policy has no investment element.
The premium rate is guaranteed for the Guarantee Period above. It is not anticipated that an increase
in the premium rate will be required at any stage unless experience deteriorates. In this case, the
maximum increase is restricted to 25% of the premium then payable, and the new premium will be
guaranteed for a further guarantee period.
Benefits indicated as stand alone (Y) do not reduce the life cover in the event of a claim.
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ILLUSTRATIVE QUOTATION
Benefit summary
The benefit descriptions below are a brief summary. Please refer to the policy wording for a full explanation
of the benefit terms and conditions.
Life Cover
The Life Cover benefit provides a lump sum payment of the insured amount on the death of the insured life.
An advance of the death benefit may be claimed if the insured life is diagnosed with a terminal illness.
Family Funeral Benefit
This policy includes a bonus Funeral Benefit which pays out R20 000 on the death of the insured (advance of life cover) and
spouse, and R10 000 on the death of a child of the life insured.
Comprehensive Disability (own)
The Comprehensive Disability benefit covers the life insured for specific disability events of a permanent nature, including
Comprehensive Impairment and Occupational Disability.
The Occupational Disability benefit provides a lump sum payment on the total and permanent inability of the life insured, due to
sickness or injury, to perform his own occupation.
Comprehensive Impairment provides a lump sum payment on permanent medical impairment which results in a functional
restriction to the following :
respiratory system, digestive system, cancer, mental and behavioural disorders, endocrine, urological and
renal system, musculoskeletal system, nervous system, cardiovascular system, AIDS.
This benefit also includes a core impairment underpin:
loss of limb/s, loss of one foot/hand/feet/hands, loss of sight in one eye or both eyes,hearing or speech,
traumatic head injury, mental impairment, the inability to perform daily activities.
Flexible Cover Facility (Personal)
The Flexible Cover benefit amount (if any) can be utilised in the future to obtain extra cover with limited further underwriting.
Existing cover can also be parked in the facility for use at a later date.
Standard exclusions
Life Cover
: Own act with the intention of committing suicide within the first 2 years
after commencement or reinstatement of a policy.
Disability Benefits
: Self inflicted injury
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ILLUSTRATIVE QUOTATION
Illustrative values
Life Cover
Projected Benefits (R) :
Year 1
Year 2
Year 3
1,000,000
1,000,000
1,000,000
Year 4
1,000,000
Year 5
1,000,000
Year 10
1,000,000
Year 15
1,000,000
Comp. Disability
1,000,000
1,000,000
1,000,000
1,000,000
1,000,000
1,000,000
1,000,000
434.17
466.73
501.74
539.37
579.82
832.41
1,237.30
Total Premium
Any voluntary cover growth is based on the rates applicable at the time of the increase. The values above
are illustrative based on current premium rates.
Underwriting requirements
The standard requirements for this quote are:
Standard Blood Tests (ELISA HIV, Cotinine,Lipids,Liver Function Test,HBA1C)
These requirements must be confirmed with underwriting prior to the insured undergoing any medical tests.
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ILLUSTRATIVE QUOTATION
Statutory disclosures
1
This policy is administered by Altrisk (Pty) Ltd under mandate from Hollard Life. For any queries regarding
policy information, servicing or claims, please contact us at :
Tel
: 0860 00 00 11
P.O. Box 2944
7 Burnside Island
Fax
: (011) 326 0123
Pinegowrie 2123
410 Jan Smuts Avenue
E-mail
: [email protected]
Craighall, Jhb
2
Altrisk is an Authorised Financial Services Provider (FSP No. 9869) - Long Term Insurance Category A & B.
3
If you have a complaint about our service, staff or products, please contact our Complaints Officer:
Fax
: (011) 326 0123
P.O. Box 2944
E-mail
: [email protected]
Pinegowrie, 2123
4
The Altrisk compliance officer is Craig Ormrod of Pretium Services. His contact details are:
Fax
: 086 550 3035
P.O. Box 9655
E-mail
: [email protected]
Devon Valley, 1715
5
The contact details for the ombuds who oversee the long-term insurance industry are:
Ombud for Long-Term Insurance
Tel : (021) 657 5000
FAIS Ombud
Tel : 0860 324 766
E-mail : [email protected]
E-mail : [email protected]
6
This policy is underwritten by Hollard Life Assurance Company Ltd. The Hollard compliance officer can
be reached at :
22 Oxford Road, Parktown
P.O. Box 87428
Johannesburg
Houghton, 2041
7
Commission is payable to your Financial Adviser in accordance with the regulations under the Insurance
Act 1998. On the initial premium of R434.17 this is determined as follows :
First Year
: R4,427.88
Second Year
: R1,475.96
Commission on any future premium increases will be in a similar proportion to the premium increase.
8
Altrisk is paid an administration fee of R13.03 per month by Hollard Life to administer the policy. Altrisk
receives more than 30% of it's total remuneration from Hollard Life. Altrisk does not hold shares in any insurer.
9
Altrisk does have Fidelity Guarantee and Professional Indemnity Cover with Lloyds of London. Altrisk does not
handle client funds and is not required to hold an IGF Guarantee.
10 If a premium is not received when due, a grace period of 30 days will be allowed - if the premium is not paid
in this period the benefits will cease, subject to the non-forfeiture provisions (if any) as outlined in the
policy document.
11 If you are not satisfied with your policy, you have the right to cancel it within 30 days of issue and get a
refund of premiums paid.
12 If this policy is intended to replace another policy, it is important that your Financial Adviser discusses
the implications with you.
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