1. Definitions

1.1 "CSP Reward Member" refers to the individual who subscribes to the death benefit service and is bound by the terms of this agreement.
1.2 "Death Benefit" refers to the benefit paid from the Trust Fund in the event of the CSP Reward Member's death, under the terms specified in this agreement.
1.3 "Trust Fund" refers to the fund into which the CSP Rewards Lifestyle Card Administrator, at its discretion, will pay money to provide for the Death Benefit payout. The CSP Reward Member does not contribute directly to the Trust Fund. This service is a Value Added Service, meaning the CSP Reward Member does not pay directly for it but receives it as part of the benefits associated with subscribing to the CSP Rewards Lifestyle Card and maintaining an active account.
1.4 "CSP Rewards Lifestyle Card" refers to the rewards card provided to the CSP Reward Member, which must remain active for continued cover under this service.
1.5 "Annual Admin Fee" refers to the annual administrative fee of R75, which is due at the start of each service year and is subject to an 8% increase annually.
1.6 "Inactive Account" refers to a situation where the CSP Reward Member fails to use their CSP Rewards Lifestyle Card, or the account associated with the card is not active, as specified by the card’s terms.
1.7 "Covered Death" refers to a death resulting from natural causes or accidental causes, as defined in the terms of this agreement.
1.8 "Excluded Deaths" refers to deaths resulting from suicide or any criminal activity, whether directly or indirectly, which are excluded from coverage.
1.9 "CSP Rewards Lifestyle Grow Account" refers to the CSP Reward Member’s account, which provides a death benefit payout of R20,000 in the event of a covered death.
1.10 "CSP Rewards Lifestyle Pro Account" refers to the CSP Reward Member’s account, which provides a death benefit payout of R50,000 in the event of a covered death.
1.11 "Value Added Service" refers to the service provided under this agreement, which is an additional benefit to the CSP Reward Member and does not require direct payment from the CSP Reward Member.
1.12 "No Age Limits": There are no age limits for eligibility under this service. Any CSP Reward Member, regardless of age, may benefit from the Death Benefit as long as the conditions of the service are met.

2. Service Coverage

2.1 Coverage: The CSP Reward Member is entitled to a Death Benefit, subject to the conditions outlined in this agreement, in the event of the CSP Reward Member’s death due to natural causes or an accident.
2.2 Death Benefit Amounts:

· CSP Rewards Lifestyle Grow Account: The Death Benefit payout will be R20,000 in the event of a covered death.

· CSP Rewards Lifestyle Pro Account: The Death Benefit payout will be R50,000 in the event of a covered death.
2.3 Exclusions: This service does not cover deaths resulting from:

· Suicide, regardless of cause or circumstance.

· Any criminal act, directly or indirectly, whether involved as a victim or perpetrator.
2.4 Coverage Validity: The Death Benefit will only be paid if the CSP Reward Member’s account is active, the Annual Admin Fee is paid, and the death is due to a covered cause. If any of these conditions are violated, the coverage will be void, and no Death Benefit will be payable.
2.5 Membership Requirement: Members can only enjoy the benefits provided they have an active CSP Rewards Lifestyle Membership.

3. No Claim Benefits

3.1 Waiting Period: No claims for the Death Benefit can be made within the first six months of membership.
3.2 Active Membership Requirement: The CSP Reward Member must have an active CSP Rewards Lifestyle membership for six consecutive months before being eligible for the Death Benefit.
3.3 Membership Upgrades and Downgrades: Should the CSP Reward Member upgrade or downgrade their membership, the six-month no-claim policy will reset and take effect from the inception date of the upgraded membership.

4. Payment Terms

4.1 Annual Admin Fee: The CSP Reward Member is required to pay an annual administrative fee of R75. This fee is due at the start of each service year and will increase by 8% annually.
4.2 Failure to Pay Admin Fee: In the event that the CSP Reward Member fails to pay the Annual Admin Fee, the service will be deemed inactive, and no Death Benefit will be payable for the duration of the inactivity.
4.3 Not Maintaining an Active CSP Rewards Lifestyle Card: If the CSP Reward Member does not maintain an active CSP Rewards Lifestyle Card, as per the terms and conditions of the card, the Death Benefit coverage will be suspended, and no Death Benefit will be payable.
4.4 No Direct Payment for Value Added Service: The CSP Reward Member acknowledges that the Death Benefit is a Value Added Service and is not directly paid for by the CSP Reward Member. The service is included as an additional benefit associated with the CSP Rewards Lifestyle Card and the active status of the account. The service can be suspended or terminated by the CSP Rewards Lifestyle Program, and a 30-day notice will be sent to the CSP Reward Member before any action is taken.
4.5 Upgrade Timing: Should the CSP Reward Member upgrade their membership, the upgrade will take effect on the first calendar day of the following month, requiring one calendar month's notice.

5. Death Benefit Payout

5.1 Benefit Payout: In the event of the CSP Reward Member’s death, the Death Benefit will not be paid directly to any beneficiaries. Instead, the funds will be kept in a Collective Investment account managed by Sanlam and paid out to the nominated children on maturity when they turn 21 years of age.
5.2 Benefit Amount:

· CSP Rewards Lifestyle Grow Account: The Death Benefit will be R20,000.

· CSP Rewards Lifestyle Pro Account: The Death Benefit will be R50,000.

5.2.1 Claim Process: The beneficiaries must submit a valid claim within the specified time frame to confirm the death is covered. This includes providing necessary documentation such as death certificates and proof of cause of death.

5.2.2 Exclusion from Payout: If the death is excluded (due to suicide or criminal acts), no Death Benefit will be paid.

6. Service Termination

6.1 Termination by CSP Reward Member: The CSP Reward Member may terminate the service at any time by notifying the provider in writing. Termination will take effect on the date specified in the notice.
6.2 Termination Due to Inactivity or Non-payment: If the CSP Reward Member’s CSP Rewards Lifestyle Card or account is inactive, or if the Annual Admin Fee is not paid, the service will be terminated, and no Death Benefit will be paid until the issue is resolved.
6.3 Refunds: There will be no refunds of the Annual Admin Fee or any payments made if the service is terminated due to inactivity of the CSP Rewards Lifestyle Card.
6.4 Termination by CSP Rewards Lifestyle Program: The CSP Rewards Lifestyle Program reserves the right to suspend or terminate the service at its discretion. A 30-day notice will be sent to the CSP Reward Member before any action is taken.

7. General Terms

7.1 Amendments: The provider reserves the right to amend these terms and conditions, provided that the CSP Reward Member is given adequate notice of any changes.
7.2 Transfer of Rights: The CSP Reward Member may not transfer the rights under this service without prior written consent from the provider.
7.3 Legal Compliance: This service is subject to the laws and regulations governing benefits and services in South Africa.

8. Contact Information

For any inquiries, claims, or updates regarding the service, please contact Singabantu Afrika at Tel 087 822 2544 or WhatsApp 065 544 6349.

Acknowledgment and Agreement

By subscribing to this service, the CSP Reward Member acknowledges that they have read, understood, and agree to the terms and conditions outlined in this document