Group Insurance (METROPOLITAN LIFE LIMITED)

Only for applicants under 54 years of age

Premium :- R5.05 per month per person

I agree that a monthly premium may be added to my account and I undertake to pay the premium when due as long as I remain a member of Koopkrag or till the age of 70. For this I will receive the following benefit from Koopkrag Limited on condition that the premium is fully paid. At death Koopkrag Limited will pay the insured amount to my next of kin or to the executor of my estate at the registered offices of Koopkrag Limited, provided that if there is a balance outstanding on the Koopkrag account at the time of death, Koopkrag will be entitled to set it off against the insured amount and any surplus will be paid to the executor of the estate. The insured amount is determined with reference to the table set out below.

 

It is a condition of any payment made by me that:

  1. Any money received from me will firstly be appropriated to the purchase account and premiums will only be considered paid if the account is settled in full.
  1. If membership is terminated in any manner, I shall not be entitled to any refund of premiums paid.
  1. Metropolitan Life Limited has the right to alter the conditions and premiums of the scheme.

The life cover for a premium of R5.05 per month equals one unit and is determined as follows:

Age of member/spouse as on date of death < 30 30-39 40-49 50-59 60-69 70+
Amount in Rand per unit R12000 R10000 R7000 R4000 R2000 R1000


 

© Koopkrag ..........................................................................................Website Design by o5webdesign