Long Term Insurance Act, 1998 (Act No. 52 of 1998)Policyholder Protection Rules (Long-term Insurance), 2017Chapter 3 : ProductsRule 2A : Microinsurance and Funeral Policy Product Standards2A.10 General |
| 2A.10.1 | A microinsurance policy or a funeral policy may not prescribe that a policy benefit payable as a sum of money is payable directly to a service provider. |
| 2A.10.2 | Despite rule 2A.10.1, a claimant may at claims stage direct an insurer to pay a policy benefit payable to the claimant directly to a service provider of the claimant’s choice. |
| 2A.10.3 | When providing a service or other non-monetary benefit under a microinsurance policy or a funeral policy, an insurer or any person on behalf of an insurer may not charge the policyholder or member any administration or similar fee in respect of that service or similar benefit. |
[Rule 2A.10 inserted by rule 6(c) of Notice No. 997, GG 41928, dated 28 September 2018]