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You can choose your death cover multiples for your UCTRF death cover and separate death cover when you join the UCTRF, without having to provide medical evidence of your good health.
You will have an option to change your death cover multiples effective 1 March each year.
You may increase your UCTRF death cover and your separate death cover at any time, but in some circumstances you will have to provide medical evidence of your good health. These conditions are set out below.
(Note: Disability claimants may not increase their death benefit multiples after they become disabled.)
UCTRF Death Cover
If your marital status changes or you have a child, you may increase your cover without needing to provide evidence of health, provided you do not increase your cover by more than the multiples set out below:
|
Event
|
Underwriting-free multiple of cover
|
|
Annual option date (1 February)
|
3
|
|
Marriage of the member
|
5
|
|
Birth or adoption of child
|
2
|
|
Divorce or death of spouse
|
1
|
If you want to increase your death cover by more than the multiples set out above, or at any other time, the Insurer will ask you to undergo a medical examination so that it can assess whether you are in good health. The cost of this will be for your own account.
If you increase your cover by more than 3 X CoE, the increased amount above 3 X CoE will not be payable on death by suicide or criminal act within 12 months of the effective date of the increase.
The cost of the premiums for the UCTRF death cover will be deducted from your UCTRF contributions. This means that the more cover you select, the less goes to your Accumulated Retirement Savings. It is important to balance the needs of your dependants in the event of your death, with your needs when you retire. We recommend that you make use of the Retirement Provision calculator and the Death Cover calculator at https://uctrf.co.za/uctrf/toolbox to help you with this decision, and/or consult your accredited financial advisor.
Separate Death Cover
You can change your cover effective 1 March each year or if your marital status changes or you have a child, without providing medical evidence of your good health.
You may increase your Separate Death Cover at any other time without needing to provide evidence of health in the following ways, provided you do not increase your cover by more than the multiples set out below or above the free cover limit.
|
Event
|
Underwriting-free multiple of cover
|
|
Annual option date (1 March)
|
1
|
|
Marriage of the member
|
4
|
|
Birth or adoption of child
|
4
|
|
Divorce or death of spouse
|
1
|
|
Purchase of a House
|
2
|
If you want to increase your death cover at any other time, the Insurer will ask you to undergo a medical examination so that it can assess whether you are in good health. The cost of this will be for your own account.
If you choose additional Separate Death cover, the premium for this additional cover will be deducted from your salary in addition to the UCTRF contribution that you are already making (in other words it will reduce your take-home pay).
