You are covered by an insurance policy that pays a monthly income benefit if you cannot work because of illness or injury. The policy pays out if you become disabled in the opinion of the insurer before normal retirement age. It does not matter if you become disabled after hours or at work. The monthly disability income benefit is paid if you become disabled and the insurer accepts the claim.
The insurer will monitor the level of disability and determine if you remain disabled, both at the outset and later. The insurer assesses your ability to perform duties at work, not to find work.
The benefit that has been insured is 70% of your monthly Retirement Funding Income, limited to a maximum of R240,000 per month.
A member shall be regarded as disabled if, in the opinion of the insurer, injury or illness has rendered him totally incapable of engaging in his own job with his own employer at the date of disablement or any other reasonably suitable job that his employer can offer him. 24 months after the date of disablement, the insurer will assess whether or not the claimant is then capable of engaging in any job for which he is or could reasonably be expected to become qualified or suited taking into account his knowledge, training, education, ability, experience & age.
The disability benefit will not be paid out immediately. The insurer must first assess the disability. This is called the waiting period. Payment in the waiting period will depend on the employer’s policy. The insurer is only responsible for paying the monthly disability income benefit once the waiting period is over. The waiting period is 3 months and starts from the date of disability.
It is important to note that contributions to the Fund will continue to be made whilst you are on disability claim.