Insurance fraud occurs when someone knowingly deceives an insurance company to try to obtain an insurance benefit to which they are not entitled, and most of the time that includes taking out and paying for a benefit on your behalf. You will need to apply for a new Meerkat Funeral Plan. No material changes are permitted to your existing Freedom Life plan. Will I be able to change my cover on my existing policy? Will Meerkat have all my information and policy history?Īs part of this process Freedom Technologies (Pty)Ltd will be transferring all your information and policy transactions to MyMeerkat FSP (PTY) Ltd so that we can provide you with the best possible servicing experience. A Meerkat consultant will contact you to facilitate this process. However, should you use 1Voucher this will be discontinued and you will need to switch to debit order. If your policy payments are made via Shoprite Stores or EasyPay, this will continue with no changes. No, your debit order will run as usual, on the debit order day you chose for your Freedom Life funeral plan. Will this policy administration transfer process to Meerkat mean that I need a new debit order instruction? Email – I receive new policy documents?īecause the insurer on your policy does not change, the policy documents that you received when you took up the policy are still valid, and you will not receive any new documentation.Who do I need to contact if I need to make changes, have queries or need to claim on my policy?įrom all policy administration will be carried out by MyMeerkat FSP (Pty) Ltd. Yes, all your benefits will remain the same for as long as you have your policy. Your Freedom Life Funeral Plan is insured by Old Mutual Alternative Risk Transfer Limited (OMART), part of the Old Mutual Group which has been around for an incredible 175 years and is one of the biggest Insurance groups in South Africa. Spouse of policyholder’s biological parent/Spouse of the biological parent of the policyholder’s spouse.īiological child of the policyholder’s spouse and which do not qualify as a child dependent.īiological child of a biological sibling of the policyholderīiological parent of the policyholder or of the policyholder’s spouse. For the purpose of the policy an extended family member is defined as one of the following in relation to the policyholder:īiological sibling of the biological parents of the policyholder or spouseīrother/Sister or Brother-in-Law/Sister-in-Lawīiological sibling of the policyholder or spouseīiological child of the policyholder or spouse and which do not qualify as a child dependent because of their age.īiological parent of a biological parent of the policyholder or spouse.īiological child of a biological child of the policyholder or spouse. Please note that Extended Family members need to be your biological relation. Meerkat is administering your Freedom Life policy. MyMeerkat FSP (Pty) Ltd will take over the cell ownership and become the intermediary. OMART is a member of the Old Mutual Group. Your Freedom Life Funeral Insurance policy will still be insured by OMART. MyMeerkat FSP (PTY) Ltd (“Meerkat”) is a trusted Financial Services Provider (FSP 50979) who has a long history working with Old Mutual Alternative Risk Transfer Limited (OMART) as a policy administrator. I wish I had never taken this policy out and instead put the money in a separate bank account.I am seriously considering contacting "A Current Affair" to bring this to public attention.Freedom Life/Meerkat transition of administration: Q&A When you take out Life insurance, car insurance or pet insurance you usually get some value in return - in this case Freedom are getting the benefit, not us. What happens if we live for another 10 years? How much would we have paid by then? It makes me sick and angry when I think of it - probably by then the premiums will be taking all our pensions. Other companies offer benefit amount OR monies paid, which ever was the greatest - NOT Freedom. We can't cancel our policies - if we do we will have paid all that money for absolutely nothing, and we are too old to go elsewhere. OK, they do give us back 10% of our premiums every 2 years which they thought was doing us a favour. I have called 3 times (3rd time I was put on hold and subsequently disconnected) to discuss this but got no help or satisfaction only to be told that there wasn't really an. When the current renewal date (Feb 2020) comes around we will have paid nearly $6k for my policy and just over $8k for my husband. Both policies have a $5910 benefit amount. I have had funeral insurance with Freedom now for 8 years.currently I am paying $67/fortnight for my husband (who is 83) and $42.94 for myself (78) that is over $100/fortnight out of our pensions.
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