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Short-Term Insurance Act, 1998 (Act No. 53 of 1998)

Regulations

Regulations under the Short-term Insurance Act, 1998 (Act No. 53 of 1998)

Part 7 : Contracts Identified as Accident and Health Policies under Section 70(2A)(a) of the Act

7.5 Marketing and disclosures requirements

 

(1) Any marketing activity or marketing material in respect of a contract referred to in category 1, 2 and 3 in the table under regulation 7.2(1) must—
(a) not identify that contract by the term "medical", hospital" or any derivative thereof, except—
(i) where using the term "medical" to describe a contract referred to in category 1 in the table under regulation 7.2(1), in which case the term must always be succeeded by the words "expense shortfall";
(ii) where using the term "hospitalisation" to describe a contract referred to in category 2 in the table under regulation 7.2(1), in which case the term must always be preceded by the words "non-medical expense cover as a result of"; or
(iii) where such terms are used in the contract itself to describe policy benefits;
(b) not in any manner create the perception that the contract—
(i) is  substitute for medical scheme membership; and
(ii) in the case of a contract referred to in category 2 in the table under regulation 7.2(1), indemnifies a policyholder against medical expenses incurred as a result of a relevant health service; and
(c) display the following statement in clear legible print in a prominent position:

"This is not a medical scheme and the cover is not the same as that of a medical scheme. This policy is not a substitute for medical scheme membership."

 

[Regulation 7.5 inserted by regulation 2 of Notice No. 1582 of 2016]

 

 


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