EMPLOYER INSURED BENEFITS
EMPLOYER INSURED BENEFITS: FUNERAL BENEFITS – NOMINATION OF BENEFICIARY FORM
HOW TO ENSURE THAT YOUR FUNERAL BENEFITS ARE PAID TO A PERSON NOMINATED BY YOU?
Dear Member
One of the benefits for which you qualify as a working member, is a funeral benefit that will pay out in the unfortunate event of something happening to you, your spouse or children.
This benefit is insured by the Employer and paid out by Sanlam. Sanlam attempts to always pay the benefit out as quickly as possible, to make things easier for those who need to pay for the funeral arrangements.
Recent amendments to the Insurance Act No. 18 of 2017 now requires that funeral benefits only be paid to a nominated beneficiary and, where there is no nominated beneficiary, to the estate of the deceased. This means that if you do not nominate a beneficiary to receive your funeral benefit (in the event that it is you who passes away), the funeral benefit will be paid into your estate and might not be available to help your family cover the funeral costs in good time.
To make things as easy as possible for your loved ones, we urge you to complete the Sanlam Beneficiary Nomination Form, and hand it in at your HR Department, as soon as possible. A copy of this form can be emailed to the Fund for record keeping purposes.
Yours sincerely
Stanley Mathonzi
PRINCIPAL OFFICER
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