FMI Individual - with Event Based cover

What is Disability cover?

Cover against any injury, illness or disability (both temporary and long-term) that may prevent you from being able to do your job. This could be anything from a broken ankle to a hysterectomy to permanent paralysis. We offer a flexible suite of both Income and Lump Sum benefits for Disability cover.

A bespoke income protection solution for more than 250 occupations

FMI's unique Event Based cover means income protection is now available to more people than ever
before. Because, whether you are an actress or an accountant, your income is still your greatest asset.

Au pairs & homemakers

Heavy duty electricians

Sports coaches & referees

Sports people

Students

Pilots (aircrafts & ships)

Artists, musicians & entertainers

Oil rig workers & commercial divers

Animal trainers & breeders

Health & fitness instructors

Income

Defined Event Income (DEI)

• How much cover can I get?
You can cover 100% of your after-tax monthly income up to R100 000*. Students are covered up to R12 000 and homemakers can select cover up to R50 000.

• What benefit terms are available?
24 months.

• What is the maximum entry age?
You can take out cover up to age 65.

• How long will I be covered for?
You can choose for your cover to end at age 55, 60, 65, or 70.

• How will my claim be assessed?
Defined Events - There are up to 200 defined events that qualify for a guaranteed claim. Each event will pay an income for a guaranteed payment period even if you continue to work.

Functional Impairment - Temporary or permanent Functional Impairments. Payments will continue for as long as you are functionally impaired but not for longer than 24 months.

Optional add-ons to DEI

Spouse Protector

Defined Event Business Overheads (DEBO)

• How can I structure my cover?
You can cover up to 100% of your monthly overhead expenses to a maximum of R100 000*.

• How long will I be covered for?
You can choose for your cover to end at age 55, 60, 65, or 70.

• How will my claim be assessed?
Your claim will be assessed by using the same claim criteria that we offer on DEI.

* An overall maximum of R100 000 can be covered across DEI and DEBO if both benefits are selected.

Functional Impairment Income (FII)

• How much cover can I get?
You can cover 100% of your after-tax monthly income up to R100 000. Students are covered up to R12 000, while homemakers can select cover up to R50 000.

• When will my payments start?
Your payments will start at the end of your DEI benefit term of 24 months.

• How long will I be covered for?
You can choose for your cover to end at age 55, 60, 65, or 70.

• How will my claim be assessed?
Temporary or permanent Functional Impairments. Payments will continue for as long as you are functionally impaired and begin after 24 months

Lump Sum

Functional Impairment Lump Sum (FILS)

• How can I structure my cover?
Your cover can be standalone or accelerated, or a combination of both.

• What is the maximum cover available?
R7 500 000.

• How long will I be covered for?
You can choose for your cover to end at age 55, 60, 65, or 70.

• What is the maximum entry age?
You can take out cover up to age 65.

• How will my claim be assessed?
Permanent Functional Impairment.

We do things differently at FMI...

Event Based cover

Unlike cover that's broadly defined and could exclude all sorts of circumstances, we set out to specify exactly what's INCLUDED - we call this Event Based cover.

By analysing every income protection claim we have paid over the past 21 years, we discovered that 200 specific events accounted for more than 80% of all claims. We also identified how long each event typically lasted - allowing us to set an appropriate payment period for each Defined Event.

To catch claims not on the list of 200 events, and for those that may continue beyond the guaranteed payment period, we developed unique Functional Impairment criteria. There is no requirement for the condition to be permanent or to have reached "maximum medical recovery".

As a real safety net, this new Functional Impairment solution pays for as long the condition exists, whether it's temporary or permanent.

Did you know?

We offer cover to homemakers!
Consider the impact on the income-earning ability of the breadwinner who now has to take on additional responsibilities around the house, as well as transporting and being on hand for children. A recent article in Fin24 calculated the cost to replace the duties of a homemaker to be as much as R50 000 per month!

Did you know?

We offer cover to students!
The ability to earn a future income is a student's greatest asset. With the soaring costs of education, parents are well aware of just how much is invested in each child's education, and any injury or illness could have serious financial consequences!

What is Critical Illness cover?

Cover against all serious illnesses or conditions, such as heart attack, cancer, and stroke. Our Critical Illness cover complements our Disability cover by giving you all the financial, practical and emotional support you need. Our goal is to make sure that you only have to worry about getting better - and we’ll cover the rest!

Income

Critical Illness Income (CII)

• What does this benefit do?
If you add CII to your DEI benefit, you will receive a claim pay-out of 130% of your TIP cover amount for 12 months (excluding your waiting period) if you claim for any SCIDEP event or any other event where we would pay 100% on the Critical Illness Lump Sum benefit.

• Why do I need this benefit?
With our CII benefit, you’ll receive a monthly income for 12 months for all Critical Illness events. This is usually longer than the applicable guaranteed payment period on your DEI benefit, which allows you the extra time you need to focus on your recovery while receiving treatment, and fully recuperate before returning to work.

The extra payment of 30% during the first year will help contribute towards the increased costs associated with a critical illness.

The additional 30% income will help contribute towards the increased monthly costs associated with a critical illness

• Will my pay-out be reduced if I am receiving any other income?
You will receive a guaranteed payment, even if you’re still working. We will not reduce the payment as a result of you receiving any other money during this period.

• Will my payments stop if I die before the end of the 12-month payment period?
The first 60 days of your claim payment is guaranteed. Your pay-out will stop after your death.

Child Protector

• What does this benefit do?
It pays a monthly benefit if your child is diagnosed with a condition defined in our Juvenile Critical Illness table or if they’re diagnosed with an illness that has a 100% pay-out in our Critical Illness table for the CI Lump Sum benefit.

• How much cover can I get?
Each child can be covered for 50% of your after-tax income, up to R15 000 per month.

• How long does this benefit pay for?
The payments are made for 24 months* following diagnosis and will continue until your child's 18th birthday, if they meet the Childhood Disability Definition.

* Payments would stop if the child passes away before their 18th birthday.

Worth up to R50 000 per claim

FREE - CI Assist

A suite of benefits included on both CII & CILS, designed to give you and your family the support you'll need through the recovery process

• Counselling - individual and family sessions
• Child care - au-pair services to help with the kids
• Travel services to and from treatment
• Emergency travel services to hospital
• Temporary home and work conversion

Lump Sum

Critical Illness Lump Sum (CILS)

• What is the maximum cover available?
R5 000 000.

• How long will I be covered for?
You can choose for your cover to end at age 65, 70, or Whole of Life.

• What is the maximum entry age?
You can take out cover up to age 70.

• How can I structure my cover?
Your cover can be standalone or accelerated, or a combination of both.

• What is the Extender Option
If selected, the Extender Option covers 107 additional critical illnesses that pay from 5% to 15% of the benefit.

• What is the Top-Up Option?
If you select the Top-Up Option, the amount you are paid for certain critical illnesses will be increased. All SCIDEP critical illnesses will pay 100% of the benefit, instead of according to the severity. All other events that usually pay 50% or 75% will now pay 100% of the benefit.

• What is the survival period?
If you have a standalone benefit and you die within 14 days of meeting the definition of a critical illness, no benefit will be paid.

• How comprehensive is the Critical Illness cover?
Our CILS benefit is as comprehensive as the best in the market, with a list of up to 274 critical illness events. Plus, it has been future-proofed with the introduction of our unique Hospital expense benefit.

• FREE cover for your children!
All your biological or legally-adopted children are automatically covered for 10% of your benefit to a maximum of R250 000. In addition to your list of critical illnesses, they will also be covered for a number of child specific conditions.

We do things differently at FMI...

• Breast Reconstruction* - we will pay out an additional 15% of your sum insured (up to R100 000 if you undergo breast reconstruction surgery after a mastectomy.
• Early cancer* - where the rest of the market specifies a list of events, we cover ALL early cancers - with the only exceptions being prostate and skin cancers. Plus, we don't require you to be receiving treatment to qualify for a claim.
• Hospitalisation expense benefit* - this event will pay 15% of your sum insured if your hospital account exceeds R250 000 in a 12-month period, even if the reason for your hospital bills wasn't classified as a critical illness.
Hospitalisation Death benefit - if you're hospitalised for at least 24 hours as a result of a listed critical illness and you die within 14 days of admission, we will pay out up to 25% of your benefit, up to R250 000.
*Available on Extender Op on only

Life cover with FMI

A combination of income and lump sum benefits allows you to provide for any once-off costs (for example estate duty), and leave your family with the income they need to afford the life you had always planned.

Income

Life Income (LI)

• How much cover can I get?
You can cover up to R150 000 per month across all your selected beneficiaries.

• What is the maximum entry age?
You can take out cover up to age 75 on both fixed term and Whole of Life.

•For how long will my beneficiaries receive an income?

PAYMENT TERMS ADULT
Anyone aged 18 or older
CHILD
Anyone aged 23 or younger
BUSINESS
Any business with an insurable interest in your life
Fixed term: 6 or 12 months
Fixed term: 2 or 5 years
*Child's birthday:
18, 21 or 24
*Life insured's retirement age: 55, 60, 65 or 70
Whole of Life - beneficiary

Did you know?

*For these Life Income benefits, you can select a decreasing premium pattern!

Lump Sum

Life Lump Sum (LLS)

• What is the maximum cover available?
R20 000 000.

• What is the maximum entry age?
You can take out cover up to age 75 if you select the Whole of Life option.

• How long will I be covered for?
You can choose term cover, Whole of Life cover, or a combination of the two. The term options are to age 55, 60, 65, or 70.

• Benefits included for FREE

Your cover can be standalone or accelerated, or a combination of both.

Terminal illness benefit - pays your full cover amount on diagnosis of a terminal illness with 12 months' or less life expectancy.

Immediate expenses benefit - pays up to R50 000 within 48 hours of receiving confirmation of your death.

Did you know?

We offer a unique suite of flexible Life Income benefits that allows you to choose how much income you would like to leave each of your dependents, and for how long!

No-underwriting conversion options - built in for FREE!

If you choose a Life Income benefit that would pay until your retirement age or to your child - your cover doesn't fall away.

On these benefits, if you are still alive when your Life Income benefit ceases, your cover will convert to Whole of Life Lump Sum automatically, and without underwriting.

The following conversion rules will apply:

• For Life Income benefits that pay to your child's specified birthday or to your retirement age, your income benefit is multiplied by 60.

• For Life Income benefits that pay for a fixed term, your income benefit is multiplied by the number of months in your fixed term. This conversion happens when your child reaches age 24.

FREE Medical Second Opinion

Don't forget! ALL our policyholders get access to Medical Second Opinion
We're the first life insurer in South Africa to partner with Mediguide to bring you the expert Medical Second Opinion service. This fantastic free benefit gives you access to world-class specialists to ensure peace of mind that you've received the right diagnosis and the best possible treatment plan. This is just one way we try to make things easier for you, so that you have all the information you need to make critical decisions about your health. Plus, you don't need to be in claim to take advantage of this great service! It's available to all our Disability, Critical Illness and Life cover policyholders, at any time.

For an extra R10 pm you can also give your whole family access to the benefit
Wanting more info? You'll find it on our website! www.fmi.co.za