GAP COVER UNDERWRITING CONCESSIONS

Many individuals want to take up Gap Cover or change to an option that provides more comprehensive benefits but are concerned about accessing benefits due to waiting periods. 

That’s why we’re playing our part in removing some anxiety.

UPGRADE CONCESSION


  When upgrading to a Gap Cover option that provides more comprehensive benefits, our 12 Month Pre-Existing Condition Waiting Period applies to the enhanced benefits.

But… effective immediately, existing clients can make the most of our annual Option Change Window Period and change their Gap Cover option with a cover start date between 1 September 2020 and 1 March 2021.

Changing to an option that provides more comprehensive benefits results in a
12 Month Pre-Existing Condition Waiting Period applicable to enhanced benefits, however, during the window period a 6 Month Pre-Existing Condition Waiting Period will apply.
If a client upgrades their option during an existing General or Pre-Existing Condition Waiting Period, the remaining months will be carried over to the new policy.
Not all benefits are underwritten when upgrading. These are: Physical Rehabilitation Top-Up CoverCasualty CoverTrauma Counselling CoverPreventative Care CoverStratum Policy Premium WaiverMedical Aid Contribution WaiverAccidental Disability and DeathLifestyle Benefits are not subject to waiting periods and are offered at no cost to clients.
 A standard 3 Month General Waiting Period will apply to the Out-Patient Specialist Consultation Cover benefit offered on our Elite option when upgrading.
DOWNLOAD THE INDIVIDUAL GAP COVER PRODUCT RANGE OVERVIEW 

UNDERWRITING CONCESSION


  We communicated an underwriting concession in May 2020, whereby the 3 Month General Waiting Period for all new policies is waived. This concession is still in force until further notice!

The concession doesn’t apply to policyholders belonging to our Corporate Gap Cover options, when existing policies are being broker noted, or when individuals transfer cover from another provider.

Clients belonging to our Corporate Gap Cover options and individuals transferring cover have their own unique underwriting and are therefore not included in the concession.  

TAILORED UNDERWRITING CONCESSION0 Month General Waiting Period12 Month Pre-Existing Condition Waiting PeriodA standard 3 Month General Waiting Period applies to the Out-Patient Specialist Consultation Cover benefit offered on our Elite option and to the First-Time Cancer Diagnosis benefitThe 10 Month Benefit Rule will still apply
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