14 Jun

Motor Insurance is a contract by which an insurance company undertakes to either compensate the policyholder for loss suffered and/or damage to the vehicle or third party legal liabilities, caused by an accident, in exchange for a premium. Just like any other contract, all insurance policies require due…

14 Jun

Disputed insurance claims are a common feature in the insurance industry, the world over. The recent uproar over a decision to reject a R2.4 million life insurance claim due to non-disclosure by health and insurance group, Momentum, in South Africa brings the issue of non-disclosure of material facts…

14 Jun

Insurance companies have often been accused of being fraudulent and “always” trying to find excuses to avoid paying out claims. Often times, these claims are raised when an insurance company refuses to settle a claim on account of exclusions. What you should understand as a policyholder is that…

14 Jun

One of the common complaints that the Insurance and Pensions Commission has been receiving from policyholders since October 2018, is that of insurance companies applying the condition of average on loss or damage to insured assets. The most dominant complaints have been with regards motor vehicle insurance. What…

14 Jun

According to the World Health Organisation’s data published in 2018, Zimbabwe’s average life expectancy increased to 61.4 years from an average of 46 years in the year 2000. The WHO identified HIV/AIDS, influenza and pneumonia and coronary heart disease, among the leading causes of death in the country.…

14 Jun

Right to accurate information Members have the right of access to the following information: Rules of the pension fund especially at entry into the Fund; Any amendments to the Rules of the Fund; Financial statements of the fund as well as actuarial valuation reports; Own annual benefit statement…

14 Jun

Who is a trustee? A trustee is a person appointed to manage the affairs, property, assets, or business on behalf of another person(s) A trustee is a custodian Trusteeship- stewardship Pension Fund trustees are appointed or elected to manage a fund on behalf of and for the benefit…

13 Jun

People who are contributing to pension schemes are supposed to receive benefit statements annually. If they are not, they should approach their pension fund or employer; Companies deducting pension contributions from their employees must remit the money to the pension fund within 14 days; Pension Board of Trustees…