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Genlife Terms and Conditions – Waiting Periods and Exclusions

Author: alicia

Posted: 01 Jun 2020

“Waiting period” shall mean the period from the commencement of cover and refers to the months the policy has to be in force and for which premiums must have been received by the Underwriter before any valid claim will be paid by the Underwriter. No insurance cover shall be granted, or benefits paid in the event the death other than the accidental death of an assured life in terms of this Group Policy within 6 months from inception date. The waiting period on combined cover of R 5 000 or less is three (3) months. The waiting period on combined cover higher than R 5 000 is 6 months (cover for principal member plus benefits) except for the R 12 500, R15 000, R20 000 Society Plans where the waiting period is 9 months. In the event of the re-instatement of a lapsed or cancelled policy the arrear premium must be paid in full and the waiting period will start from afresh. The waiting period on unnatural death is one month on condition that the first premium has been paid and received by the underwriter. No benefit shall be paid in the event of suicide within 24 months from the inception date of the cover. No benefit shall be paid in the event of death resulting directly or indirectly from negligence, recklessness, transgression of the law, intentional exposure to danger or and wilful self-inflicted injury. If benefits in terms of the Group Scheme are increased at any stage, the waiting period shall again apply with regard to the increased benefits, from the date of the increase of the benefits or when the first premium was received by Liberty Group Limited (whichever is the latest).