Terms and conditions

Please note the important disclosures listed below. Further product-specific T&C’s have been disclosed to you during the sales process and are also included in the policy documents that are sent after sign-up for the product you have selected (see examples at the bottom of this page). Your policy document should be read in full after you have taken out a Simply policy.

Simply Financial Services

Simply Financial Services (Pty) Ltd (Simply), registration number 2011/132479/07, is an authorised financial services provider (FSP), FSP Number 47146, licensed by the Financial Sector Conduct Authority (FSCA) to distribute life insurance products. 

Hollard holds a minority shareholding in Simply Financial Services.

Simply’s contact details are as follows:
– Physical Address: 3rd floor, Grove Exchange, 9 Grove Avenue, Claremont, 7708 
– Postal Address: 3rd floor, Grove Exchange, 9 Grove Avenue, Claremont, 7708 
– Website: https://www.simply.co.za/ 

The Insurer

The insurer is The Hollard Life Assurance Company Ltd (Hollard) (registration number 1993/001405/06). Hollard is a licensed life insurer and authorised Financial Services Provider. Hollard is a public unlisted company and has Professional Indemnity insurance and Fidelity Guarantee insurance in place. Hollard’s compliance officer can be contacted at compliance@hollard.co.za. 

Application process

This Hollard insurance product is distributed by Simply online and through a call centre, as well as by independent intermediaries. By signing up for a Simply policy underwritten by Hollard, you agree to be bound by Hollard and Simply’s T&C’s. Once your application has been submitted to Simply, we will evaluate your application and check the personal and banking details provided to ensure that they are correct and relevant to you as an applicant. You will be able to review the application and correct any mistakes in your application. Once Simply has received the application and accepted it on behalf of Hollard, you can cancel the policy at any time by sending an email to: cancellations@simply.co.za. If you, as policyholder, cancel the policy, we will not collect any more premiums from you. The cover will continue until the next normal debit date. 

The contract

Your contract consists of your application,  policy schedule and  policy documents. Simply’s policies are underwritten by Hollard, which means that Hollard is responsible for paying claims to beneficiaries and ensuring you are provided with everything detailed in your policy document. Simply markets, distributes and services the policies, including your own. 

However, your agreement to pay a monthly premium in return for cover is directly with Hollard. The cover you have with Hollard is explained fully in this document. Be sure to read this document carefully, double check all the details in this document and contact us if you have any questions. 

Cool-off Period

If you change your mind within 31 days of taking out your policy, you can cancel your policy with a full return of any paid premium.  

Policy Reinstatement

You are permitted to reinstate lapsed policies within 3 months of your first missed premium. However Simply and Hollard reserve the right to limit the number of allowed reinstatements to 5 over the term of the policy.

Simply as a binder holder

Hollard is the insurer of your policy and Simply is the binder holder. This means that Simply performs key functions on behalf of the insurer, such as issuing and administering the policy and managing the claims process. Simply is paid binder fees by Hollard for these functions equal to 30% of each month’s premium (excl. VAT). These fees are included in the premium you pay, there is no additional cost to you. 

Financial Advice

Simply is an authorized FSP, marketing, distributing and servicing long-term insurance products underwritten by Hollard. Simply’s representatives do not provide financial advice as defined by the Financial Advisory and Intermediary Service Act, 37 of 2002 (FAIS). Where this product has been sold by an independent intermediary mandated by Hollard, they may provide advice and may be licensed to do so. 

Remuneration

Your intermediary is Hollard’s representative authorised to market and sell this policy.  They earn commission from Hollard for rendering services as intermediary (as defined in the Regulations under the Long-term Insurance Act), up to the regulated maximum amount permitted for this type of policy. Simply receives more than 30% of its total remuneration from Hollard. 

Claims

We need to be informed within 180 days of the insured person’s death, or the event which led to the insured person’s disability claim. We will help you or your beneficiaries through the process when the time comes. You should make sure your loved ones know that you have taken out this policy. Tell them how to contact us if they ever need to claim.  

The information provided at the time of application is critical in assessing the risk associated with your policy. The insurer relies on the information provided by the policyholder and/or insured persons to determine whether the insured persons were eligible for cover, the premium that should be charged, and terms of the cover provided. 

If any of the information provided is inaccurate, this will impact the validity of the policy and future claims. 

In the event of a claim, we will review the information provided during the application process to ensure that it was accurate. If any non-disclosure or misrepresentation is found that would have impacted the initial decision to offer cover, the claim may be declined, or benefits reduced. If, after Hollard pays any claim, Hollard finds that it was based on false or incomplete information, all claim payments must be refunded to them. 

If the claim is declined by Hollard, the claimant has 90 days from when they are notified of this to make representation to Hollard so that they may review this decision. If the dispute is not resolved, then the claimant has 3 years from the original letter of rejection to institute legal action against Hollard by serving summons on it, failing which Hollard is no longer liable for the claim. 

Complaints

Should you have any complaints about the service Simply has provided, please contact us or Hollard immediately so we can attempt to resolve your problem or complaint. We are committed to helping you in every way we can.

Simply Complaints
E-mail: complaints@simply.co.za

Hollard (Insurer) Complaints
E-mail: Mycomplaint@hollard.co.za

Office of Internal Arbitration at Hollard
Postal Address: PO Box 87419, Houghton, 2041
E-mail: lifeoia@hollard.co.za

If after contacting us, you still feel your complaint is unresolved, the matter can be pursued with the National Financial Ombud Scheme (NFO).

National Financial Ombud Scheme
E-mail: info@nfosa.co.za

If you feel that Simply or the intermediary who sold you this product has contravened the provisions of FAIS, please contact the Simply Compliance Officer, or the FAIS Ombud.

Simply Compliance Officer
E-mail: compliance@simply.co.za

FAIS Ombud
E-mail: info@faisombud.co.za

Protection of Personal information

Hollard and/or Simply may use your information or obtain information about you (including criminal and/or health information) for the following purposes:
 
-Underwriting 
-Assessment and processing of claims 
-Where applicable, credit reference searches or verification, credit scoring and assessment and credit management 
-Verification of personal information (including your identity, address and banking details) 
-Updating your personal information 
-Claims checks (Industry Life & Claims Register(s)) 
-Tracing beneficiaries 
-Debt tracing or debt recovery 
-Tracing where you are uncontactable. 
-Prevention and detection of fraud, crime, money laundering (including anti-money laundering screening) or other malpractice. 
-Market or customer satisfaction research or statistical analysis 
-Audit & record keeping purposes. 
-Compliance with legal & regulatory requirements and in connection with legal proceedings. 
-Sharing information with service providers including appointed administrators (Simply Financial Services as at time of policy issue) we engage
to process such information on our behalf or who render services to us. These service providers may be abroad, but we will not share your
information with them unless we are satisfied that they have adequate security measures in place to protect your personal information. 

You agree that we may view, search and update your information. 

You may access your personal information that we hold and may also request us to correct any errors or to delete this information. In certain cases, you have the right to object to the processing of your personal information. 

You also have the right to complain to the Information Regulator, whose contact details are: 
http://www.justice.gov.za/inforeg/index.html (http://www.justice.gov.za/inforeg/index.html)  
Tel: 010 023 5200 
Fax: 086 500 3351 
Email: popiacomplaints@inforegulator.org.za 

Marketing

The Hollard Group (of which Hollard is a subsidiary) would like to offer you ongoing financial services and may use your personal information to provide you with information about products or services that may be suitable to meet your financial needs. Please email your ID number to customerservice@hollard.co.za if you would prefer not to receive such information and/or financial services. To view the Hollard Group full privacy notice and to exercise your preferences, please visit our website on https://www.hollard.co.za/our-world/company-overview/hollard-privacy. To view Simply’s full privacy notice and find out how to exercise your preferences, please visit our website on https://www.simply.co.za/

Advertising

All models depicted in our advertising have no material relationship to any brand or person mentioned in our advertising. 

Compliance

Simply’s Compliance Officer deals with issues relating to Simply’s FAIS compliance. 

Our consultants who do not meet the full Fit and Proper Requirements as defined by FAIS render services under management supervision. 

Simply has professional indemnity insurance. 

Simply has and maintains an Anti-Money Laundering Policy in accordance with FAIS.

Policy documents links

Simply Financial Services (Pty) Ltd is an authorised financial services provider (FSP 47146).

Hollard Life Assurance Company Limited (Reg No. 1993/001405/06), a Licensed Life Insurer and an authorised Financial Services Provider.