Q: Should I know the Terms and Conditions of a contract that has not been provided to me? Is it my duty to ensure that the insurer provides me with the contract? A: Contracts differ according to financial industry services and products. • A long-term insurance contract is for a specific term of insurance and Read more about Frequently Asked Questions[…]

WHY DOES COVER LAPSE AFTER FAILING TO PAY ONE PREMIUM? IS NAMFISA INVOLVED IN THE APPROVAL OF PRODUCTS SOLD VIA TELESALES? WHAT IS NAMFISA DOING TO PROTECT THE CONSUMERS FROM FALLING PREY TO UNSCRUPULOUS AGENTS? WHY DO YOU ACCEPT THE ASSESSORS REPORT AS FINAL WITH REGARDS TO A CLAIM? WHY CAN I NOT CHOOSE MY Read more about FREQUENTLY ASKED QUESTIONS[…]

Q: Why does my cover lapse after missing one premium payment? Q: Why can I not choose my preferred legal practitioner to be paid from my legal cover? A: A contract usually stipulates when cover will lapse if no premiums are paid. One should remember, however, that premiums are paid in advance. Consequently, should payment Read more about FREQUENTLY ASKED QUESTIONS[…]

What is a policy cession? A policy cession is the transfer of one party’s (the ‘cedent’) personal right to a claim to another (the ‘cessionary’). Any rights which the cedent had on that policy will now be transferred to the cessionary. In the case of a claim, the insurer will now pay benefits to the Read more about POLICY CESSIONS[…]