If part of a medical scheme or you are joining medical scheme and you’re trying to understand the terminology, you will be forgiven for thinking that you’ve landed on another planet.
Some of the terms below are relatively self-explanatory, but others are not. Here’s a quick definition of each of them. 1. Principal member This is the main member on the fund. It can be a single person, or someone who has registered one or more dependants on the scheme. The principal member often pays a larger contribution than the dependants do. If the main member dies, the dependants can usually stay on the fund, but one of them will have to become the new principal member. 2. Open and closed funds An open fund is open to everyone who wants to join. A closed fund is usually just for certain groups of people, such as the employees of a specific company, for whom membership of the fund is often a condition of employment. Members of the public cannot join these medical schemes. 3. Medical scheme tariff This is the specified tariff in rand that the medical scheme will pay for certain procedures or consultations. Your specialist may charge R750, but if the medical fund tariff on your option is only R500 for that particular type of consultation, you will have to pay the difference. This is called a co-payment. 4. Waiting period When you join a medical scheme you cannot claim for day-to-day expenses during the first three months, unless you have come straight from another medical scheme. But you are covered for medical emergencies from the day you join. You can be excluded for no more than 12 months for the treatment of a pre-existing condition. 5. Prescribed minimum benefit (PMB) There are 270 conditions for which all members have to be treated, according to the Medical Schemes Act. All medical schemes and hospital plans are bound by this law. But hospital cash-back plans and health insurance products are not, as they are not governed by the act. 6. Day-to-day benefits These are out-of-hospital benefits, which differ greatly from scheme to scheme and from option to option. The bigger your contribution, generally the bigger your cover. These benefits can cover things such as GP visits, prescription medication, dental treatment and visits to the optician. Check your benefit schedule for your particular option.Click here to read more Click here to read more Please contact Namhla or Judy in our Health Department, email health@daberistic.com , if you have any queries Medical Aid. Source: Fin24
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The South African Revenue Service (Sars) has warned small businesses to be on the lookout for a new scam. Sars said on Monday that it has noted incidents of "scam artists" pretending to be Sars representatives who have approached unsuspecting small business enterprises to demand so-called outstanding payments on undeclared taxes.
In addition, a few incidents of scammers demanding money to wipe off debts have also been reported to Sars. Taxpayers and traders with outstanding accounts must resolve the matter directly with Sars, the tax agency said. People with queries are encouraged to contact the Sars Contact Centre at 0800 00 7277 (0800 00 Sars) to validate their status. Taxpayers should also report any suspicious activity at the Sars Anti-Corruption and Fraud Hotline at 0800 00 2870, toll free. "All outstanding tax, VAT or duties must only be deposited directly into Sars bank accounts," warned Sars. "No money should be paid over to debt collectors or self-proclaimed Sars officials. In fact, collectors who want money to be handed over to them must be immediately reported. "Sars invites all taxpayers and small business enterprises to contact the Sars offices to settle their dues and submit their returns from July 1 2016. This will avoid prosecution," said the tax agency. Please contact Su-Chin or Su-Lan, Tel 011 658 1333, email finance@daberistic.com for queries on Tax or Vat queries. Source: News24 Like personal car insurance, commercial vehicle insurance covers you in the event of theft or damage to your car or truck after an accident. It also can include personal injury cover, medical cover, and third party cover for other vehicles that may be involved.
Despite these similarities, there are several key ways that commercial vehicle insurance is different to personal insurance. These include:
Please contact Thomas or Innocentia; email shortterm@daberistic.com , to get your customised personal or commercial insurance quotes. Source: Brolink Discovery Life recognises the importance of regular health checks and screenings for a client’s ongoing health, which is why we have included the Vitality Health Check as part of our new business underwriting process. This provides clients with the opportunity to kick-start their engagement in health and wellness and to earn thousands of Vitality points in the process.
Discovery Health clients’ Screening Benefit will cover the cost of the Vitality Health Check. The Vitality Health Check comes at no cost to the clients themselves. Discovery Health members’ Screening Benefit will cover the cost of an annual Vitality Health Check. Clients will see a claimed amount on their Discovery Health claims statement, but this will not affect their day-to-day benefits. Please contact Namhla or Judy in our Health Department, email health@daberistic.com , if you have any queries about Vitality. Source: Discovery It is trite law that a person can nominate a minor as a beneficiary on a life insurance policy. Remember, the minor will not be regarded as a party to the contract (i.e. the policy) between the policyholder and the insurer.
The issue of contractual capacity, which is required for a contract to be considered valid and binding in South Africa, thus doesn’t come into play. Contractual capacity refers to the legal capacity of an individual to enter into valid agreements. The true nature of a beneficiary nomination on a life insurance policy is that of a stipulatio alteri. The common law principle of stipulatio alteri refers to a contract between two persons, but for the benefit of another. The policyholder contracts with an insurer for the policy proceeds to be paid by the insurer to a third party, i.e. the nominated beneficiary. When you take out a life policy, you will be asked to nominate a beneficiary. The policyholder is of course not compelled to nominate a beneficiary – he/she has the right to nominate a beneficiary. If no beneficiaries have been nominated, the proceeds of the policy will be paid to the deceased estate upon the death of the policyholder. The obvious benefit to nominating a beneficiary is to thereby exclude the proceeds of the policy from the deceased estate (which means no executor’s fee will be payable on the benefit). The problems with nominating a minor It is common for parents to nominate their children as beneficiaries on policies – which children are often minors at the time of death. In the above instance the proceeds of the policy will (usually) be paid to the minor’s guardian. The problem with this is that the proceeds might never reach the minor for whom it was intended. Consider the situation where the parents are divorced. The proceeds will be paid to the ex-spouse (assuming he/she is the minor’s guardian) and could end up being utilised for other things – which is exactly what the policyholder wanted to avoid by nominating the minor child as the beneficiary and not his/her ex-spouse.Another problem would be where there is more than one guardian. The Children’s Act No 38 of 2005 defines a “guardian” as “a parent or other person who has guardianship of a child”. In a culture as diverse as ours it is thus possible for a minor to have more than one guardian at the time of death of the policyholder. In terms of section 18(4) of the Children’s Act each of the persons qualifying as the minor’s “guardian” would be competent to act independently and without the consent of the other. Another problem is where the minor doesn’t have a legal guardian (or no legal guardian has been appointed yet). In such an instance the proceeds will have to be paid to the Guardian’s Fund until the minor reaches the age of majority. In terms of the Children’s Act 38 of 2005 the age of majority is 18 years.Click to read more Please contact Kevin and Thato in our Life Department; email life@daberistic.com , to get your personalised quote for your Life policy. Source: Glacier Dear Client/Business Associate
This is just a friendly reminder that Daberistic will hosting, a one stop Vitality assessment day which can earn you over 30 000 points in less than two hours. Details are below Date : 23 June 2016 Place : Daberistic Office (4 Basalt Place, Jukskei Park) Duration: Approximately 1hr30min Time slots available : 8:00am, 8:30am, 9:00am, 9:30am, 11:00am, 11:30am, 12:30pm Please take note the cost for the assessment is R700 payable prior to the assessment which you can claim back from Discovery. The assessment includes: · Vitality Fitness assessment-Claimable from Medical Savings if on Discovery Medical Aid · Vitality Nutrition assessment - Claimable from Medical Savings if on Discovery Medical Aid · Health check assessment - Claimable if you on any Discovery Medical Aid option For more information please contact health@daberistic.com or call us on 011 658 1333 They say ‘you get what you pay for’ which is why when it comes to car and home insurance cheaper is not always better. There are quite a few factors to consider when deciding on your short-term insurance provider and if you’re making this decision based solely on price, it could end up costing you more than you bargained for.
Ask yourself the following before making a decision:
Insurance to suit your pocket and needs Your insurer should be able to structure and adjust your policy according to you needs. This means that you must be able to actively manage your cover and have the flexibility to change it whenever the need arises. If you for instance decide to remove additional cover from your policy so that it better suits your circumstances or decide to increase your excess to see how much it could lower your monthly premium, you should be able to do so. There is a reason why claims are often called the moment of truth You should be able to rely on your short-term insurer for a positive claims experience. Santam has paid 99% of claims made in the past year. We do this by looking for reasons to pay, rather than reasons not to.In fact, we are South Africa’s largest short-term insurer, covering over R4 trillion worth of risks. This means we are capable and have experience to deal with your claim. Click here to read more Please contact Thomas or Innocentia in our Short Term Department; email shortterm@daberistic.com , to get your personalised Santam quotes Source: Santam |
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