In August 2008 the Road Accident Fund was amended to reduce the limits on various benefits. Our customers may therefore receive less compensation than expected in the event of an accident. With effect from 1 June 2009, Motor Personal Accident cover is being offered to alleviate this risk.
Cover will be offered under three bases (or combinations thereof). These will include:
Named person(s)
Any driver
Any passenger and driver
Cover applies while the insured person is travelling in the permanently enclosed driver/passenger compartment of a motor vehicle. The offering is a unit based insurance compensation benefit which comprises:
Death Cover – R250,000
Permanent Total Disability – R250,000
Medical Expenses – R10,000
The maximum selection allowed for this cover is eight units.
The base premium for a single unit is R27.81 per month (R303.39 per annum) per insured person but will vary according to the type of cover selected. The cover under basis 3 (any passenger and driver), has a sliding scale dependant on seating capacity.
Commission payable on this class of business is 20%. Cover will be available to brokers under their scheme mandates provided that:
The payment bordereau clearly and separately reflects the figures for this line of business
The wording and schedule used must, in all instances and aspects, follow the Zurich standard
To fully understand and appreciate the cover, or to obtain a copy of the policy wording, please consult your Broker Manager or contact your nearest Zurich office.
