Long Term Insurance Act, 1998 (Act No. 52 of 1998)RegulationsRegulations under the Long-term Insurance Act, 1998Part 7 : Contracts Identified as Health Policies under Section 72(2A)(a) of the Act7.2 Categories and types of contracts identified as health policies |
(1) | The categories and types of contracts set out in the table below are identified as health policies. A contract will only be a health policy for purposes of this Part if it meets the contract description and requirements relating to policy benefits of a specific category and type of contract set out in the table below. |
TABLE
Category |
Contract Type |
Contract description |
Requirements relating to policy benefits |
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1 |
Non-medical expense cover as a result of hospitalisation |
A contract in terms of which a person, in return for a premium, undertakes to provide policy benefits on the happening of a health event that results in hospitalisation. |
Policy benefits—
|
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2 |
Frail Care |
A contract—
|
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3 |
HlV, Aids, tuberculosis or malaria testing and treatment |
A contract—
|
Policy benefits are provided as a rider benefit. |
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4 |
Medical emergency evacuation or transport |
A contract—
|
Policy benefits are provided as a rider benefit. |
(2) | All amounts referred to in sub-regulation (1) escalate annually, from the effective date of this Part, by the Consumer Price Index (CPI) annual inflation rate published by Statistics South Africa (as defined in section 1 of the Statistics Act, 1999 (Act No. 6 of 1999)). |