How the law is empowering you as a group risk benefit member

How the law is empowering you as a group risk benefit member

Published on 31st May, 2021 at 10:30 am

Learn about recent changes to Policyholder Protection Rules (PPR) to empower you as a group risk benefit member.

How we’re helping you stay up to date

We tend to underestimate someone simply because we don’t really know them. This also tends to be true of ourselves in how we view things that we do not fully understand, possibly because it is not part of our reference framework, such as financial and insurance benefits.

It’s human nature to shy away from thinking about how unpredictable and uncontrollable life can be. Lacking knowledge, and poor engagement around group insurance benefits – particularly those you have access to through an employer – can mean missing out on important benefits when you and your family need them the most.

There are, of course, other reasons why our ‘relationship’ with group insurance benefits tends to be kept at an arm’s length. As an employee or member, we are sometimes far removed from the employer or fund’s decisions regarding the provision of group insurance benefits. Moreover, communication about group insurance benefits is often communicated in a confusing language that also includes industry jargon unfamiliar to the person on the street.

Fortunately, changes to the Policyholder Protection Rules (PPRs), under the Long-term Insurance Act, intend to help you get a lot closer to your group insurance benefits. One key change is that the definition of a policyholder in a group insurance scheme has been extended from just the employer or retirement fund to also include the individual member, thereby guaranteeing that members of group insurance schemes or retirement funds are top of mind.

How does legislation ensure Sanlam adheres to treating members fairly?

The law requires insurers of group policies to communicate directly with you, the member, by providing specific and appropriate information that creates awareness of your policy benefits and any value-added benefits. In addition, the communication you receive should be done
through an appropriate medium, and be easy to understand to help you make informed decisions.

This means any communication you receive from Sanlam should explain – in plain language that is not misleading – the benefits, features and conditions for payment for your group insurance benefits. By communicating directly with you, Sanlam therefore helps you to become more familiar with your group risk cover benefits and the conditions under which they are paid.

How will the requirement be monitored?

Sanlam is required to provide evidence to the regulator that all reasonable steps have been taken to communicate material insurance matters with members using their personal contact details.

How Sanlam will continue to protect your personal data

Sanlam respects clients’ constitutional rights to information privacy, and is committed to ensuring that all personal information that comes into its possession or under its control will be processed in a manner that is fair, lawful and secure, and does not unjustifiably infringe on the privacy of any member.

The personal information received by Sanlam will thus only be used, when needed, for legitimate purposes. When Sanlam engages service providers to process personal information on its behalf, it will be subject to confidentiality agreements being in place between Sanlam and such service providers.

As a Reality Access for Sanlam Group Risk member, you enjoy benefits including 24-hour expert legal help and trauma assistance on the phone, monthly Discount Coupons to make your money go further and 24/7 emergency medical support. Find out more about your benefits here.

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