Common Contracts
1 similar Endowment Policy Terms and Conditions contracts
Endowment Policy Terms and ConditionsEndowment Policy Terms and Conditions • April 30th, 2021
Administrator: means Prescient Fund Services (Pty) Ltd, an authorised FSP responsible for administration of the Policy, including receipt of Contributions, investment and other instructions, calculation of the Policy Benefit, and settlement of claims.The Insurer has outsourced the administration to Prescient Fund Services (Pty) Ltd. Beneficiary for Ownership: A beneficiary for ownership is the person who will become the owner of the policy on the death of the Policyholder. This is only applicable where the Policyholder is a natural person and is a different person to the Life Assured. Only one Beneficiary for Ownership may be nominated. Beneficiary for Proceeds: A beneficiary for proceeds is a person(s) nominated to receive all or part of the Policy Benefit on the death of the last Life Assured, provided that the Policyholder is also deceased. This is only applicable where the Policyholder is a natural person. Cession: means a Security Cession – an agreement where value available under
