It’s that time of the year again and not too many days to Christmas. Some of you may be going away so we will do our usual checklist to help prevent any losses while you are away.
Santam the industry’s largest short term insurer have released the following crime statistics for the 2014/2015 year –
· A 21% increase in reported commercial vehicle hijacking claims.
· A 21% increase in reported household robbery claims (theft by use of force or violence).
· A 19% decrease in domestic house breaking claims (breaking and entering a property).
· A 13% decrease in the theft of private vehicles.
· A 13% increase in reported business robbery claims.
· A 4% decrease in reported commercial vehicle theft claims.
The above stats are a concern so we must continue to be vigilant.
Insurers are taking a stance that if there is a lack of maintenance resultant damage will not be covered. As an example, should rain cause damage to the ceiling due to the roof not being maintained, the resultant damage to the celling will not be covered. Please have your roof inspected to see that there are no cracks or cement that has perished from the elements that can cause leaks, and renew any water proofing at least once a year.
Checklist while you are away:
Switch main water supply off if your house is totally unoccupied to prevent flood damage.
Test your alarm system to see if it is in good working order.
Lock main gate if possible as thieves tend to force these open.
Get a friend or neighbour to clear the pavement of markers and newspapers from Post Boxes.
Have timers or day / night switches installed to have lights come on at night.
Switch off geysers to save electricity.
Check to see that you have the correct cover in place.
Have our number handy should an unfortunate event occur. Our office does not close over the festive season.
Once you have completed the above go and enjoy a well-deserved break.
We would like to wish you a Merry Christmas and a Blessed New Year.
Life – Buy And Sell Agreements
A business needs to prepare for the event of one or more of the partners dying or becoming disabled. Putting a buy and sell agreement in place, can ensure a smooth transfer of shareholding between partners. This guarantees continuity for the business and peace of mind for the deceased or disabled partner and their family.
Traditionally, a life insurance policy is used to fund the sale and purchase of the shares or member’s interest. It is important that the policy be structured correctly to sufficiently cover the actual market value of the shares or member’s interest being purchased.
It is most important to note that the agreement will only be valid if the registered owners of the shares / member’s interest sign the agreement in the presence of witnesses. Be careful of in-community-of-property marriages, as the spouse will also have to sign the agreement. Many agreements fail because not all the parties have signed the agreement or have signed it incorrectly. Contact our office should you require assistance in concluding these agreements.
Employee Benefits – Estelle Susanna
This year has definitely been a less tempestuous year for the Employee Benefits Industry to say the least. We haven’t had tax reforms or pension fund reforms that were on again off again, the whole industry has taken on a wait and see attitude. If Cosatu allow the previous reforms effective 1 March 2015 to go ahead, they will be effective 1 March 2016.
A reminder – Provident funds to be replaced by Pension funds for member’s under 55, member’s will withdraw one third cash at retirement and purchase an annuity with the two thirds. Contribution levels to increase to a maximum of 27.5%, capped at R350,000.
Wishing you a Blessed Festive Season and looking forward to being of service to you in the New Year.
Discovery Health – Introducing the Smart Plan
The latest in digital technology meets the best in healthcare as Discovery Health Medical scheme provides members with new access points into the health care system. The Smart Plan will be a fully digital experience, where members will be guided intuitively to the most appropriate healthcare providers, ensuring better health care journeys at the lowest possible cost. The Smart plan is the ultimate manifestation of a more effective Discovery Health system.
The most important aspect of this Smart Plan is that it provides members with unlimited GP consultations in the Smart Plan Network, with a R50 co-payment that applies for each visit. The balance of the consultation fee will be covered up to the Discovery Health Rate.
Members enjoy full cover for a defined list of acute medicine prescribed by a Smart Plan network GP, subject to a co-payment of R10 per item on the prescription. Prescription medicine must be dispensed at Clicks or Dis-Chem.
The Smart Plan provides full cover for all Chronic Disease List conditions as per the prescribed formulary list when using MedXpress, Clicks or Dis-Chem.
For more information please contact Simone Heyman by email to firstname.lastname@example.org or call Discovery on 0860 99 88 77.