Member Booklet - UKZN Retirement Fund - University of KwaZulu ...

A person who lives with you in a relationship of mutual dependency as if married, may be
covered under the policy as your spouse, but you must submit a Funeral Nomination Form
reflecting them as your life partner, and supply a copy of their identification document.
A maximum of two spouses may be covered under the policy.
Funeral Claims
In the event of the death of your spouse or children covered under the policy, you must complete
the Funeral Claim form, and attach all the required documents specified on the form. Claims must
be sent to your Human Resources Benefits Officer, who will confirm that the documents you
have attached are in order before they forward the claim to Alexander Forbes.
Claims must be lodged within six months of the date of a death, and will be paid within 72 hours
of a valid claim form, with all the necessary supporting documents, being provided to Alexander
Forbes.
http://retirementfund.ukzn.ac.za.
Fringe Benefit Taxation
The premium for the funeral benefit will be paid by the UKZN Benefit Arrangement. As this is an
employer sponsored scheme, you are liable for fringe benefit taxation on the premium. The
amount will vary according to your income level but will be minimal. It will show on your payslip as
a deduction.
8.2 EXTENDED FAMILY COVER
You may also take out Extended Family Cover at your own cost for:
Your own parents
Your parents-in-law
Your brother or sister
A relative through blood or marriage, who is financially dependent upon you for the
payment of their funeral costs
Your dependent child who is over age 22 (or age 26, if in full time education), provided that
you add them when their cover under the main funeral policy ceases.
Please note that your family members must be under age 75 at the time that Extended Family
cover is taken out.
The premium for R20 000 funeral cover depends on the age of the family member you wish to
insure. The monthly premiums for the 2013 year are as follows:
R11.10 for family members aged 18 to 64
R33.40 for family members aged 65 to74
R78.00 for family members over age 75 years (Note: they must be under 75 when they are
added to the policy).
Premium rates will be reviewed annually from 1 January 2015. You will be advised of any changes
in the premium rate and your stop order will be automatically adjusted for the premium change.
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