Frequently Asked Questions
Who can apply?
ACS members under the age of 70 are eligible to apply.
Coverage is not available to those who live in the United States, Canada and Puerto Rico.
We cannot accept applications from anyone who is a national or currently resident in certain countries.
What does Term mean?
Term Assurance is life insurance which provides coverage at a fixed rate of payments for a limited period, known as 'the relevant term'.
After the relevant term expires, please note that coverage at the previous rate of premiums is no longer guaranteed.
The client must either forgo coverage or potentially obtain further coverage with different payment terms and/or conditions.
How long can the relevant term be on the Unilife Term policy?
The Unilife Term policy allows one to take a relevant term for: 1 to 30 years.
In some cases, the relevant term can only be a minimum of five years, depending on the information provided in the application process.
What currency can I pay my cover in?
Cover is available in US Dollars, Great British Pounds or Euros. The premiums must be paid in the same currency as the cover.
How can premiums be paid?
- Premiums can be paid monthly, quarterly, semi-annually or annually.
- Premiums can be paid by credit/debit card online.
What do guaranteed cover and guaranteed premium mean?
If premium payments are maintained throughout the policy period, the level of cover and premium are guaranteed for the relevant term.
What is underwriting?
The term ‘underwrite’ generically means to sign and accept liability under an insurance policy, thus guaranteeing payment in case loss or damage occurs. To enable Unilife to decide to underwrite a life assurance policy, we require a certain amount of underwriting information. As part of your application, you will be required to answer questions about your health and lifestyle and may also be required to undergo a medical assessment.
What happens if I am required to be fully underwritten?
In the unlikely event that your application on the Term application requires additional information, one is forwarded to a fully underwritten application form. Once the underwriting team has considered the application, medicals will be required, or the application will be denied upon submission of the application. In some cases, Unilife may contact your General Practitioner directly for additional medical information.
If I am fully underwritten, do I have to pay for my medicals?
If one’s application is accepted after the medical tests and premium payments have been made by the insured, the cost of the medical tests will be covered by Unilife. This will be either by way of reimbursement directly to the insured, or an amount, to the value of your medical costs, will be discounted off your premium.
How do we handle claims?
We understand that the loss of a loved one is a truly devastating time, and we appreciate that dealing with administration and paperwork may seem to add to your difficulties. We want to help reduce the burden at this period. Therefore, Unilife commits to processing all admitted claims as speedily and sympathetically as we can. You can rely on our friendly and helpful service to ensure that all benefits may be paid promptly to avoid any distress to your nominated beneficiaries.
Who is the insurer?
The insurer is Guardrisk, please follow the link to find out more. https://guardrisk.co.za/international
Who is the reinsurer?
The reinsurer is SCOR, please follow the link to find out more. https://www.scor.com