DEFINITIONS

In this Policy, where the context so permits, the masculine gender includes the feminine gender, and the singular number shall include the plural and vice versa. Words and expressions have been defined and shall have the meanings assigned to them in the Definitions:

Administrator means Atlas Finance (Pty) Ltd an authorized FSP 46412.

Applicable Laws means the Insurance Act 18 of 2017 and/or the Long‐term Insurance Act 52 of 1998, the Policyholder Protection Rules (Long‐term Insurance), 2017 and the Protection of Personal Information Act 4 of 2013, and any other legislation dealing with data management and similar processes.

Benefit the amount payable to the Credit Provider on the Death, or Temporary Disability, or Permanent Disability or Retrenchment/Loss of Income of the Insured.

Beneficiary means Atlas Finance (Pty) Ltd, the Credit Provider to whom all the Policy Benefits are payable.

Claim means, unless the context indicates otherwise, a demand for Policy Benefits by a Claimant, irrespective of whether or not the Claimants demand is valid, made by submitting a completed Claim form and supporting documentation to the Administrator.

Claimant means the person who makes a Claim against this Policy.

Claim Event means the risk insured under this Policy, being the Death, Temporary Disability, Permanent Disability and Retrenchment/Loss
of Income of the Insured.

Claim Event Date means the date on which the Claim Event occurs, giving rise to a Claim.

Cooling off Period means the period of thirty‐one (31) Days from the date the Insured receives this Policy document, or from a
reasonable date on which it can be deemed that the Insured received this Policy document or from the Entry Date of the Policy in which the Insured can cancel this Policy, provided that no Benefit has yet been paid or claimed or the Claim Event insured against has not yet occurred, by giving notice to the Administrator and any premium paid will be refunded in full.

Credit Agreement means the agreement in terms of which You are indebted to Atlas Finance and which meets the criteria for credit agreements as defined in section 8 of the National Credit Act, No 34 of 2005 (or as amended).

Credit Provider means the institution that granted You the loan as per the Credit Agreement, namely Atlas Finance (Pty) Ltd.

Commencement Date means the date on which your Policy commences, which is the date the Credit Agreement is entered into and/or the
date on which the first premium is paid, whichever is the earlier.

Day shall mean a 24 (twenty‐four) hour period, including weekends and public holidays. Days shall have a corresponding meaning.

Death means the natural or unnatural death of an Insured.

Disability shall mean your Temporary Disability or Permanent Disability confirmed by a registered Medical Practitioner. Disabled
shall have a corresponding meaning.

Exclusion means the losses or risk events not covered under this Policy. Should a Claim Event arise from such Exclusion(s), no Benefit
will be payable.

Insured/You means a natural person who has entered into a Credit Agreement with the Credit Provider. For the purposes of this Policy, Insured shall also mean a person covered under this Policy.

Insurer means a licensed life insurer, namely Guardrisk Life Limited, with registration number 1999/013922/06 and FSP number 76.

Medical Practitioner means a legally and duly qualified medical practitioner registered with the Health Professions Council of
South Africa with a valid practice number.

Monthly Credit Instalment means the monthly loan instalment due in terms of the Credit Agreement. In case of Temporary Disability or Retrenchment/Loss of Income Benefit Claims, this amount will be payable by the Insurer to the Credit Provider for a period stipulated in the Policy.

Atlas Finance shall mean Atlas Finance (Pty) Ltd the Credit Provider who offered You a Credit Agreement.

Outstanding Loan Amount refers to the amount owed by the Insured in terms of the Credit Agreement including capital, interest, and fees provided for in the National Credit Act 34 of 2005, as at the Claim Event Date for Death or Permanent Disability Benefits.

Period of Grace means the period of 31 (thirty‐one) Days after the premium payment due date where cover and Benefits are still in force, but the Policy is in arrears, and failing a premium to be paid at the end of such period, would result in the Policy lapsing. The Period of Grace does not apply to the payment of the first premium in terms of this Policy.

Permanent Disability means your medically certified total and permanent disability as a result of sickness, injury or accident, which cannot be remedied or cured by any procedure or treatment, and this disability renders You permanently unable to pursue your own occupation or similar occupation for which You may be suited through experience, training, education, age or ability which is confirmed by a registered Medical Practitioner. Permanent Disability shall include where the Insured has suffered the loss of both hands and both feet or the sight of both eyes.

Personal Information means the personal information as defined in the Protection of Personal Information Act 4 of 2013.

Policy means this legal document that has terms and conditions which includes the declarations made at application stage and any
other supporting information/endorsements issued in terms of this Policy.

Policy Schedule the Schedule stating the Benefit details and respective premium rate as attached to this Policy.

Pre‐existing Medical Condition means an Illness or bodily injury sustained or contracted by an Insured Person which he or she has been aware of or received medical treatment or advice by a Medical Practitioner in the 12 (twelve) months prior to such Insured persons Commencement Date under this Policy.
This includes, but is not limited to, any physical or mental defect, symptoms, disease, infirmity or condition which existed in the 12 (twelve) months prior to the Commencement Date of this Policy.

Repudiate means, in relation to a Claim, any action by which the Insurer rejects or refuses to pay a Claim, for any reason, and includes instances where a Claimant lodges a Claim in respect of a Claim Event not covered by this Policy or a Claim Event covered by this Policy, but the premium or premiums payable in respect of this Policy are not paid; and in respect of Policy terms and conditions not being met. Repudiation shall have a corresponding meaning.

Retrenchment/Loss of Income shall mean becoming unemployed or the total inability to earn Your full income as a result of any action that is beyond Your control, and receiving no remuneration from any occupation. Loss of income shall also mean being Retrenched as a result of the implementation of a staff reduction program, adverse business conditions, the introduction of new technology or the reorganization of the business by Your employer in accordance with the Labour Relations Act of 1955. The Loss of Income shall not include Your voluntary termination of a contract, or any willful steps, actions or decisions that lead to You not earning an income. Loss of Income will also not relate to the loss of any supplementary income whilst the main income remains in full force nor a temporary loss of the main income while employment remains in force.

Temporary Disability means having suffered a loss of normal income from your own normal occupation for a period in excess of 30 (thirty) consecutive Days (except in a case where the loan period is not greater than one month) as a result of illness or bodily injury which has been verified by a duly qualified Medical Practitioner but which is not expected to last. The occupational category for which Benefits will be paid shall be defined as Temporary Disability when your impaired ability to earn an income or meet the obligations under a Credit Agreement arise as a result of illness, injury or disease which renders you unable to continue your employment, occupation, profession or trade.

Variation means any act that results in a change to:
the Premium; any term; any condition; any Policy Benefit; any Exclusion; or the duration of the Policy. Vary or Variations shall have
a corresponding meaning.

Waiting Period means the period of time from the Entry Date in which the Insured will not be covered for any Policy Benefit and will remain uncovered even after the expiry of the Waiting Period in instances where a Claim Event arises during such Waiting Period.

You means the Insured who has entered into a Credit Agreement with Atlas Finance .

We/Us means the Insurer, Guardrisk Life Limited.

COOLING‐OFF PERIOD

You have the right to cancel this Policy within 31 (thirty‐one) Days from receipt of the Policy documentation or within 31 (thirty‐one) Days from the date on which it is deemed that You received the Policy documentation or within 31 (thirty‐one) Days of the Commencement Date, provided that no Benefit has been Claimed or paid or a Claim Event giving rise to a Claim has not yet occurred, in which instance any premium paid will be refunded less the cost of any risk cover enjoyed by You by making a written request for cancellation. Such cancellation will be dependent on the Insured ceding an alternate policy that meets the minimum benefits of this policy that is acceptable to the Insurer.

PREMIUMS

All premiums are payable monthly by the Insured. Premium rates are guaranteed for the first 12 (twelve) months from the Commencement Date and will be reviewed annually. Any changes to the premium rate will be notified to You 31 (thirty‐one) Days prior to the change taking effect. The Period of Grace allowed for payment of the premiums is 31 (thirty‐one) Days commencing on the first Day of the month in which the premium is due. If the premiums are not paid by the expiry of the Period of Grace, the Policy will lapse. Failure to pay the premium/s will result in Your Policy being cancelled and cover ceasing. Upon cancellation all Benefits will cease, and no cover will remain in force. If a Claim Event arises during the Period of Grace, the claim will still be considered and if valid, will be paid less the outstanding premium/s. No Claim will be considered should a Claim Event occur after the Policy has been cancelled.

IF YOU PAY THE PREMIUM SHOWN ON YOUR POLICY SCHEDULE, YOU ARE COVERED DURING
THE PERIOD OF YOUR CREDIT AGREEMENT FOR THE FOLLOWING:

DEATH AND PERMANENT DISABILITY
In the event of Your Death or You becoming Permanently Disabled from sickness or an accident during the period of your loan and your Permanent Disability results in You being unable to work, we will settle your Outstanding Loan Amount with Atlas Finance as at the Claim Event Date.

TEMPORARY DISABILITY
In the event that You become Temporarily Disabled during the period of your loan agreement with Atlas Finance, we will pay your Monthly Credit Instalments:
1. for a maximum period of 12 (twelve) months; or
2. for the remaining period of your Credit Agreement; or
3. until You are no longer Temporarily Disabled.
The Benefit will be payable for whichever is the shorter period.
A Waiting Period of 3 (three) months from the Commencement Date will be applicable on policies where the loan term is greater than 6 (six) months.

Exclusions ‐ YOU ARE NOT COVERED if you pass away or become Disabled due to:
1. the use of nuclear, biological or chemical weapons, or any radioactive contaminants;
2 participation in any hazardous activities, such as mountain climbing, skydiving, or speed racing;
3. the abuse of alcohol, drugs or narcotics;
4. whilst you are under the age of 18 or over 65;
5. active participation in war, invasion, acts of foreign enemies, hostilities, warlike operations (whether war declared or not), civil war,
insurrection, rebellion, revolution, civil commotion or uprisings, military power.
6 participating in any criminal activity;
7. suicide or willful self‐inflicted injury;
8. any Pre‐existing Medical Condition that You were aware of within the 12 (twelve) months before the inception of this Policy.

RETRENCHMENT/LOSS OF INCOME BENEFIT (OTHER THAN DUE TO DISABILITY)
In the event that You experience a total Loss of Income/become unemployed/Retrenched during the period of your Credit Agreement with Atlas Finance, and You did not receive a Retrenchment notification letter before taking out the loan, we will pay your Monthly Credit Instalments: 1. for a maximum period of 12 (twelve) months; or
2. for the remaining period of your Credit Agreement; or.
3. until You find employment or are able to earn an income.
The Benefit will be payable for whichever is the shorter period. A Waiting Period of 3 (three) months from the Commencement Date will be applicable on policies where the loan term is greater than 6 (six) months.

Exclusions: YOU ARE NOT COVERED if you experience Loss of income
or become unemployed due to:
1. lawful dismissal due misconduct, forbidden act or willful dereliction of duty; 2. voluntary Retrenchment or termination of employment;
3. voluntary forfeiture of salary, wages or other employment income;
4. resignation;
5. retirement;
6. participation in an unprotected strike;
7. Retrenchment of which You were aware or received notice of during the 3 (three) months preceding the Commencement Date.

IN THE EVENT OF A CLAIM DURING THE LOAN PERIOD:
Your or Your family member need to contact either your Atlas Finance branch or 087 701 8665 or info@atcorp.co.za to notify them of a
Claim within 3 (three) months of the Claim Event Date and provide the required documentation within 6 (six) months of the Claim
Event Date. Failure to do so could result in the Benefit being forfeited, unless there are extenuating circumstances for late notification or submission thereof.
The following documents will be required to process the Claims:
In case of a Death Claim:
* A fully completed Claim form.
* Certified copy of the death certificate of the Insured.
* Certified copy of the DHA 1663 form.
* Police Accident Report (in case of unnatural death).
* Certified copy of the ID document of the Insured.
In case of a Disability Claim:
* A fully completed Claim form
* A fully completed Medical Report on Disability by a Medical practitioner.
* Any additional requirement that we may reasonably require.
In case of a Retrenchment/ Loss of Income Claim:
* A fully completed Claim form.
* A Retrenchment letter from the employer confirming the date and reasons for Retrenchment.
* Proof of actual loss of income (other than as a result of Retrenchment).
* A copy of the UI‐19 form.
* Any additional requirement that we may reasonably require.

Your policy will be CANCELLED and you will have NO COVER if:
1. Our second attempt to collect the premium is rejected after the Period of Grace;
2. You give 31 (thirty one) Days‐notice to the Administrator to cancel, subject to providing adequate alternative proof of cover; 3. We give You 31 (thirty one) Days‐notice that we intend to cancel the Policy for whatsoever reason;
4. A death or Permanent Disability Claim has been paid;
5. Your Credit Agreement with Atlas Finance has been settled, or your Credit Agreement has expired, whichever is the earliest.

PLEASE NOTE:
1. This Policy follows the laws of the Republic of South Africa.
2. You cannot cede the rights to this Policy to anyone else.
3. We are not obliged to accept late premiums and this will be accepted at our sole discretion.
4. If we decide not to pay your Claim You have 90 (ninety) Days from that date to query this decision. If we have not changed our
decision you have 180 (one hundred and eighty) Days to issue summons, otherwise you forfeit this Claim and we shall have no further
liability in terms of this Claim.
5. In the event of a complaint or a Claim to the Insurer or intermediary not being resolved to your satisfaction, You may submit a
complaint to the Long‐term Ombudsman as per the details below.
6. As this credit protection Policy is mandatory in terms of the Credit Agreement, if you elect to not choose our Policy, you must
provide a substitute Policy (must have at least the same Benefits), written proof of Atlas Finances interest must be noted and You
must provide this to us within 5 business Days otherwise we can insist on Our Policy being issued.
7. The Insurer may immediately cancel this Policy or place it on hold, refuse any transaction or instructions, or take any other action
considered necessary in order to comply with the law and prevent or stop any undesirable or criminal activity.
8. This Policy acquires no surrender, paid‐up or loan values. There is no cumulative effect of premiums paid and each monthly Premium
is used to cover the risk for that specific month. Each month a Premium is to be paid to renew the cover.

MISREPRESENTATION
If any Claim under this Policy is in any way misrepresented or if any fraudulent means are used by You or anyone acting on your behalf to obtain any Benefit under this Policy or if any of the events Insured against are occasioned by your intentional act, or with your connivance, all Benefits under and the premiums paid in terms of this Policy shall be forfeited, and the Policy will be voidable at Our option.

VARIATIONS OF THE POLICY
The Insurer reserves the right to amend, add or Vary the terms and conditions of this Policy by giving You a 31 (thirty‐one) Days written notice of its intention to do so. Any Variations and or changes will be binding and can be applied at any time to the existing terms and conditions after written communication of these changes has been sent to Your last known address as it appears in the Insurers records at that time.

ERRORS AND OMISSIONS
It is expressly understood and agreed that if failure to comply with any terms of this Policy is shown to be unintentional or as a result of administrative errors or omissions on the part of either the Insurer or Yourself, both the Insurer or You shall be restored to the position You or the Insurer would have occupied had no such error or omission occurred.
The above provision shall apply only to oversights, misunderstandings or clerical errors relating to the administration of this Policy. Any negligent or deliberate acts or omissions by You or the Insurer regarding the cover provided will be resolved by applying the best practice and the Treating Customers Fairly principles as outlined below, together with the Policyholder Protection Rules.

TREATING CUSTOMERS FAIRLY
This product has been created to meet your requirements. We will at all times deliver on customer service and customer expectations by enforcing the principles of Treating Customers Fairly (TCF). The TCF principles ensure we apply fairness to all client experiences relating to new business, Policy terms, service, complaints and claims processes.
The TCF framework has 6 (six) outcomes which are:
1. You are confident that your fair treatment is key to our culture;
2. Products and services are designed to meet your needs;
3. We will communicate clearly, appropriately and on time during the lifespan of your Policy;
4. We provide advice which is suitable to your needs and circumstances;
5. Our products and services meet your standards and deliver what you expect;
6. There are no unreasonable barriers to access our services, or to lodge a Claim or to lodge a complaint.

PROTECTION AND PROCESSING OF PERSONAL INFORMATION
Your privacy is of utmost importance to Us. We will take the necessary measures to ensure that any and all information, including Personal Information (as defined in the Protection of Personal Information Act 4 of 2013) provided by you or which is collected from you is processed in accordance with the provisions of the Protection of Personal Information Act 4 of 2013 and further, is stored in a safe and secure manner. You hereby agree to give honest, accurate and up‐to‐date Personal Information and to maintain and update such information when necessary.
You accept that your Personal Information collected by Administrator/Insurer may be used for the following reasons:
1. to establish and verify your identity in terms of the Applicable Laws;
2. to enable Administrator/Insurer to fulfil our obligations in terms of this Policy;
3. to enable Administrator/Insurer to take the necessary measures to prevent any suspicious or fraudulent activity in terms of
the Applicable Laws; and
4. reporting to the relevant Regulatory Authority/Body, in terms of the Applicable Laws.
We may share your information for further processing with the following third parties, which third parties have an obligation to keep your Personal Information secure and confidential:
1. Payment processing service providers, merchants, banks and other persons that assist with the processing of our payment
instructions;
2. Law enforcement and fraud prevention agencies and other persons tasked with the prevention and prosecution of crime;
3. Regulatory authorities, industry ombudsman, governmental departments, local and international tax authorities, and other
persons that we, in accordance with the Applicable Laws, are required to share your Personal Information with;
4. Credit Bureaus;
5. Our service providers, agents and sub‐contractors that we have contracted with to offer and provide products and services to any
Insured in respect of this Policy; and
6. Persons to whom we cede our rights or delegate our authority to in terms of this Policy.
You acknowledge that any Personal Information supplied to the Administrator/Insurer in terms of this Policy is provided according to the Applicable Laws.
Unless consented to by yourself, We will not sell, exchange, transfer, rent or otherwise make available your Personal Information (such as your name, address, email address, telephone or fax number) to any other parties and you indemnify the Administrator/Insurer
from any claims resulting from disclosures made with your consent.
You understand that if Atlas Finance or the Administrator/Insurer has utilised your Personal Information contrary to the Applicable Laws, You have the right to lodge a complaint with Guardrisk within 10 (ten) days. Should the Insurer not resolve the complaint to Your satisfaction, you have the right to escalate the complaint to the Information Regulator.

CONTACT US AT OUR BRANCHES OR ON OUR WEBSITE www.atlasfinance.co.za
FOR ANY LOAN QUERIES.
FOR INSURANCE QUERIES PLEASE CONTACT ATLAS FINANCE ON 087 701 8665.

IMPORTANT INFORMATION
* You need to contact us should your circumstances change, so that we can update your Policy details, as we do not review your Policy details every year.
* If we fail to resolve your complaint satisfactorily, You may submit your complaint to the Ombudsman for Long ‐Term Insurance. * You will always be given a reason for the Repudiation of your Claim.
* The maximum commission earned is 3.25% on this Policy.

OTHER MATTERS OF IMPORTANCE
You will be informed of any material changes to the information about the intermediary, Insurer and/or underwriter provided above. If any of the information reflected above was given to You orally, this disclosure notice serves to provide You with the information in writing. Should You not be satisfied with the Policy, You are entitled to a period up to 31(thirty one) Days within which You may cancel your Policy in writing at no cost. Cover will cease upon cancellation of the Policy.
If We fail to resolve Your complaint satisfactorily, you may submit your complaint to the Ombudsman of Long‐Term Insurance.
You will always be given a reason for the repudiation of your Claim.
If the Insurer wishes to cancel your Policy, this will be done in writing to your last known address.
You will always be entitled to a copy of your Policy at no extra charge.

Disclosure Notice
Financial Advisory and Intermediary Services (FAIS) General Code of Conduct 2003

Your Intermediary
Business Name : Atlas Finance (Pty) Ltd
Registration number : 2007/028142/07
Physical address : 123 Oxford Rd, cnr Cotswold Dr, Saxonwold
Postal address : PO Box 980, Parklands, 2121
Telephone : 087 701 3351
Website : www.atlasfinance.co.za
FAIS registration (FSP No) : 46412
In terms of the FSP license, Atlas Finance is authorised to give intermediary services and advice for products under: CATEGORY I ‐ Long‐term Insurance: Category A‐1 and B1

Without in any way limiting and subject to the other provisions of the Services Agreement/Mandate, Atlas Finance accepts responsibility for the lawful actions of their representatives (as defined in the Financial Advisory and Intermediary Service Act) in rendering financial services within the course and scope of their employment. Some representatives may be rendering services under supervision and will inform you accordingly.

Atlas has been appointed as a Binder holder and Intermediary, through agreements with the Insurer. Atlas has the necessary Professional Indemnity and Conflict of interest policy in place.

Complaints contact details : 011 782 0105 or admin@siloum.co.za
Compliance Officer : JD Wessels, PO Box 731327, Fairland, 2036

Your Underwriting Manager
Name : Silo Underwriting Managers (Pty) Ltd
Physical address : 11 Crescent Drive, Melrose Arch
Postal address : P O Box 3448, Cresta, 2118
Telephone : 011 782 0105
Email : admin@siloum.co.za
Fax Number : 086 710 8875
Website : www.siloum.co.za
FAIS registration (FSP No) : 46471
FAIS Categories : Category I‐ Long Term insurance subcategory A, B1, B1‐A, Short term Personal lines A1 and Commercial lines, Category IV, Assistance Business.
Silo has Professional Indemnity Cover and Fidelity Guarantee Cover in place.
Silo has a Binder agreement and contractual relationship through a shareholders agreement with Guardrisk Life.
Compliance Officer : JD Wessels
Complaints Contact details : 011 782 0105
Silo has the necessary conflict of interest management policy in place which is available to view on www.siloum.co.za.

Your Insurer
Business Name : Guardrisk Life Limited
Registration number : 1999/013922/06
Physical address : The MARC, Tower 2, 129 Rivonia Road, Sandown, Sandton 2196
Postal address : PO Box 786015, Sandton, 2146
Switchboard telephone : +27‐11‐669‐1000
General email enquiries : info@guardrisk.co.za
Website : www.guardrisk.co.za
FAIS registration (FSP No) : FSP 76
In terms of the FSP license, Guardrisk Life Limited is authorised to give advice and render financial services for products under: CATEGORY I: Long‐term Insurance : Category A, B1, B1‐A, B2, B2‐A and Category C
Guardrisk has Professional Indemnity Cover and Fidelity Guarantee Cover in place.

Your Intermediary noted above should always be your first point of contact in the event that you have a query or complaint. Guardrisk is a cell captive insurance company, we partner with other financial service providers to provide our customers with different insurance and risk solutions to suit their specific needs.

If you are dissatisfied with the feedback received from your Intermediary/administrator, or your complaint remains unresolved, feel free to contact the Guardrisk Complaints Department:
Telephone: 0860 333 361
Email: complaints@guardrisk.co.za
Guardrisk Compliance Details:
Telephone: +27‐11‐669‐1104
Fax Number: +27‐11‐675‐3826
Email: compliance@guardrisk.co.za

Guardrisk Life Limited has a conflict of interest management policy in place. Which is available to view on the website: www.guardrisk.co.za

Particulars of the Long Term Ombudsman (For claims/service related matters)
Postal address: Private Bag X45, Claremont, Cape Town, 7700
Telephone: +27‐21‐ 657‐5000
Fax number: +27‐21‐ 674 0951
Sharecall: +27‐860 103 236
Email: info@ombud.co.za

Particulars of the Registrar of Long Term Insurance (For market conduct matters)
Postal address: PO Box 35655, Menlo Park, 0102
Telephone: +27‐12‐ 428‐8000
Fax number: +27‐ 12‐ 347‐ 0221
Email: info@fsca.co.za

Particulars of FAIS Ombudsman (For advice/policy related matters)
Postal address: PO Box 74571, Lynnwood Ridge, 0040
Telephone: +27‐ 12‐ 470‐ 9080
Fax number: +27‐ 12‐ 348‐ 3447
Email: info@faisombud.co.za

Particulars of Information Regulator (For data breaches or related matters)
Postal address: PO Box 31533, Braamfontein, Johannesburg, 2017
Telephone: +27‐ 010‐ 023‐ 5200
Fax number: +27‐ 082‐ 746‐ 4173
Email: complaints.IR@justice.gov.za