If you will be 34, 37, 40, 43, 46, 49, 52, 55 or 58 on 1 January

Your OMEGS Life Assurance Benefit is expressed as a multiple of your annual pensionable earnings/TGP and it is determined by your age on 1 January each year. If you are in the Full Cover group (i.e. you have been for a voluntary medical test and satisfied medical requirements) and you are changing (or have changed) age bands on 1 January, you may experience a drop in your level of cover. However, the good news is that you can “top-up” the cover you lose by taking out voluntary top-up life assurance cover, at an extremely competitive cost, and without needing to go for any kind of medical test.
(If you are in the Core Cover group (i.e. you have not been for a voluntary medical test or you have not satisfied medical requirements), there is currently no voluntary top-up life assurance cover option. If you have not been for a voluntary medical test, we strongly encourage you to do so because you can significantly increase your level of cover!)

Voluntary Top-up Life Assurance Cover

IMPORTANT: You can only select the Voluntary Top-up Life Assurance Cover option between December and January/February each year, if you are changing age bands. 
The Voluntary Top-Up Life Cover benefit allows you to take out cover for the multiple of your annual pensionable earnings/TGP lost (if you are changing age bands), without any need for a medical test. This is a benefit offered by your Employer (not the Fund) and can only be taken up in December and January (and sometimes February) each year. Please look out for communication from the Employer in December/January each year.

Beneficiary information for your Voluntary Top-Up benefit

Please note: You must complete your beneficiary information on Workday for the allocation of the death benefit payable under the Voluntary Top-up scheme. Any cover that you apply for now will be effective from 1 January or 1 February, and the first deduction will be made from your January/February salary (depending on your application date). The cover will be noted on your future payslips.

Why do you need to capture your beneficiaries’ details on Workday?

It is important to note that the Voluntary Top-Up benefit is insurance cover that you take out in your personal capacity, which means that you are required to nominate your beneficiaries and state the share of the benefit they should receive. You are required to capture your beneficiaries’ details to ensure that our records are kept up to date. You will be able to update the details on Workday going forward, as you need to.

The beneficiary nominations for your  Group Life Cover ( Core and Full Cover) need to be made via Secure Services, because the benefit is provided via the Old Mutual Employee Group in Superfund (OMEGS), and would therefore need to be distributed in alignment with the requirements of the Pensions Fund Act.

If you have any queries, please contact the HC Service Centre Support Team: HCSCPayroll@oldmutual.com .

Please note that Voluntary Spouse’s Cover is not a Fund benefit. However, information is provided in order to assist members in understanding the benefits offered by the Employer.
The Voluntary Spouse’s Cover benefit provides the option of taking out cover on the life of your spouse/s.
The assured amount is equivalent to one times or two times the employee’s annual pensionable earnings/TGP and once you have chosen a level of cover (i.e. either once or twice your annual pensionable earnings/TGP), you may not change this level of cover. Where pensionable earnings/TGP fluctuates, the monthly premium will also fluctuate.

You can find out more by clicking here and checking out Groupnet (under “The Old Mutual Way”).

Losing a loved one is a difficult experience. To ease some of the financial burden during this time, the Family Funeral Cover benefit provides quick access to cash to help with funeral costs.

Please note that the Family Funeral Cover benefit is not an OMEGS benefit, but is offered by your Employer.

All SuperFund members, together with their immediate dependants are automatically covered for this benefit. Cover continues until you leave the Fund or reach the Normal Retirement Age of 61 years.

There is complete freedom in how this benefit is used. Therefore, your loved ones can be honoured with the flexibility of personal, religious and traditional preferences.

Note: There is no limit to the number of children covered, as long as they are the biological, step, or legally adopted child of the Employee. They must be unmarried and either:

1. Under age 21, or
2. A full-time student under the age of 25, or
3. Become wholly and continuously dependant on the employee due to mental or physical infirmity that prevents him from maintaining himself

Definition of Spouse:

• Legally married spouse (certified copy of marriage certificate required).
• Common law spouse (affidavits required).
• Sam- sex partner (affidavits required).
• Spouse as per custom or religion (signed statement before a Commissioner of Oaths).

How to Claim:

In the event of a death, please complete the Family Benefit Claim Form and submit to the Group Assurance Products via:

• • • Email: gapdeathclaims@oldmutual.com
    • Fax: 021 509 4669
    • Post: Death Claims Team, Old Mutual, PO Box 2386, Cape Town, 8000

All the necessary documents need to be submitted for a smooth and timeous claims process. Payments are typically processed within one (1) working day of receiving all the fully completed claim forms and necessary documentation.

Note: A claim form can be signed by your HR Line Manager in the absence of a Company Stamp.

It is important to make sure your family knows who to contact at Old Mutual – such as your Line Manager – in the event of your death. They will need to follow the same claims process to access the Family Cover benefit.

Should you wish to submit a claim, please use the Family Funeral Cover claim form.

All queries regarding the Family Funeral Cover benefit are to be referred to Old Mutual Group Assurance (GAP) at GAPStaffFund@oldmutual.com