Short-Term Insurance Act, 1998 (Act No. 53 of 1998)RegulationsRegulations under the Short-term Insurance Act, 1998 (Act No. 53 of 1998)Part 7 : Contracts Identified as Accident and Health Policies under Section 70(2A)(a) of the Act7.4 Requirements applicable to all contracts referred to in the Table under regulation 7.2(1) |
Contracts may not require medical scheme membership
| (1) | A contract referred to in categories 2 to 5 in the table under Regulation 7.2(1) may not provide that the policyholder or insured person must be a member of a medical scheme. |
Information to be included in contract
| (2) | A contract referred to in the table under Regulation 7.2(1) must in clear and easily understood language— |
| (a) | state the premiums payable and the policy benefits to be provided under the policy; |
| (b) | state the events in respect of which the policy benefits are to be provided and the circumstances (if any) in which those benefits are not to be provided; and |
| (c) | identify those representations made by or on behalf of the policyholder to the insurer which were regarded by that insurer— |
| (i) | in respect of a contract referred to in category 1 to 3 in the table under Regulation 7.2(1), as having any relation or bearing to exclusions that apply under a condition-specific waiting period and reasons for differentiating premiums based on age; or |
| (ii) | in respect of a contract referred to in category 4 or 5 in the table under Regulation 7.2(1), as being material to its assessment of the risks under the policy. |
[Regulation 7.4 inserted by regulation 2 of Notice No. 1582 of 2016]