Frequently Asked Questions
- Are Group insurance and Funeral insurance compulsory?
NO - but two units are recommended. In case of death, the proceeds are credited
to your Koopkrag account and any surplus paid to your estate.
- What is the bonus year?
September (previous year) till August (current year). Your December account
will be credited with the accumulated bonus.
- Do I earn bonus on petrol?
NO - you pay a 1.75% handling fee but it remains more convenient and cheaper
to use your KOOPKRAG card instead of cash.
- Is KOOPKRAG only in Pretoria?
KOOPKRAG's suppliers are nationwide - please refer to our suppliers guide for
a list of KOOPKRAG suppliers in your area.
- Is the Guarantee fund compulsory?
YES - it is similar to a savings account that will be credited to your KOOPKRAG
account in the event of cancellation of your KOOPKRAG account or your resignation
as a member. Interest is payable on the balance of your Guarantee fund at rates
as determined by Koopkrag Limited from time to time.
- Does the bonus percentage change?
The bonus percentage is determined annually depending on the company's financial
- How do I determine my monthly purchase limit required?
Your limit is determined by your monthly requirements subject to approval from
- Can my purchase limit be increased?
A request to have your purchase limit increased can be done telephonically.
- What happens when I exceed my monthly purchase limit?
Your transaction can be declined and a administration fee will be charged.
This can be prevented by requesting a temporary or a permanent purchase limit increase
- In the event of a claim at Santam short-term insurance who do I contact?
Santam Claim Centre (Theft or an accident) at Tel: 0860 505 911.
- Who do I contact if I want to change my policy details at Santam?
Santam Telecentre at Tel: 0860 102 722.