AVBOB MUTUAL ASSURANCE SOCIETY

ONDERLINGE VERSEKERINGSGENOOTSKAP AVBOB

INCORPORATED UNDER PRIVATE ACT NO 7 OF 1951 / INGESTEL INGEVOLGE PRIVATE WET NR 7 VAN 1951

368 MADIBA STREET / MADIBASTRAAT 368 PRETORIA 0002

PO BOX / POSBUS 1661 PRETORIA 0001
TEL (012) 303-1000 FAX / FAKS (012) 323-4461

Ref : 0 / 26 / NB
Enquiries Tel No : 0861 28262 1
MISS TG MKHIZE Fax No : (012) 303 1383
67 RAKFERN GARDENES
RAKFORD 02 January 2019
PHOENIX
4068

Dear MISS MKHIZE

POLICY NUMBER : AL5258182X6

Thank you for placing your policy with AVBOB Mutual Assurance Society. Your application for insurance has been
accepted and the policy contract is enclosed. The start date of the policy is 01 March 2019.

The risk on this policy starts on the start date i.e. 01 March 2019, or on the first day of the month in which the initial
(first) premium is received, whichever is the later. Therefore, if the first premium is received (not deducted from
your salary or bank account) before the start date, the risk will start on 01 March 2019, but if the first premium is
received after 01 March 2019, the start date may be adjusted according to Avbob's exclusive discretion. You can
contact our Call Centre should you require an earlier commencement date as mentioned above. Please note that
the commencement date cannot be earlier than the date on which you have signed this application form.

The acceptance of the risk is also subject thereto that if there is any change between the date on which you signed
the application form and the date on which the risk starts, that may affect the risk and you do not notify AVBOB
Mutual Assurance Society thereof, this acceptance will be null and void. The Society may re-assess the risk after
you have notified it of any such change.

AVBOB offers a 30 day review period during which you have the right to amend or cancel this insurance at no cost
to yourself. The cancellation of this insurance can, however, only be done if no benefit has yet been paid or
claimed or an event insured against has not yet occured. Should you decide to amend or cancel your policy,
please communicate your decision to us in writing within 30 days after the date of this letter.

You may also phone our Call Centre on 0861 28 26 21 (0861 AVBOB 1) for any enquiries. Please always have
your policy number at hand if you do so. Alternatively you can write to:

The Manager: Policy Services

AVBOB Mutual Assurance Society
P O Box 1661
PRETORIA
0001

If any of your queries relating to the policy you have purchased have not been dealt with to your satisfaction after
you have contacted the Manager: Policy Services, you have the right to approach the office of the Ombudsman for
Long-term Insurance within six months thereafter, at telephone number (021) 657 5000, or fax number (021) 674
0951. Alternatively you can write to: The Ombudsman for Long-term Insurance, Private Bag X45, Claremont, 7735.

Should you however, have any queries about the suitability or quality of the financial advice you have received,
please do not hesitate to contact our Complaints Department, at tel: 0861 28 26 21, fax nr: 0867 546 876 or email:
complaints@avbob.co.za, or our Compliance officer at tel : (012) 303 1034 or fax nr: 0866 834 025 or email:
compliance@avbob.co.za. If you then still feel that you have suffered or are likely to suffer financial harm, or have
been treated unfairly by AVBOB or a representative, you have the right to approach the Ombudsman for Financial
Services Providers at telephone number 0860 324 766, or fax number (012) 348 3447. Alternatively you can write
to: The Ombudsman for Financial Services Providers, PO Box 74571, Lynnwood Ridge, 0040.

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DIRECTORS: PA DELPORT (CHAIRMAN) JF RADEMAN (MANAGING) CR VAN DER RIET (DEPUTY MANAGING) LC CELE NA COWIE
HA LAMBRECHTS JJ VENTER MPP NYAMA TA COOPER (FINANCIAL) D PILLAY (MARKETING) LB DLAMINI
GROUP SECRETARY: K GOUNDEN
AVBOB is an authorised Financial Services Provider / AVBOB is 'n Gemagtigde Finansiële Diensteverskaffer
AVBOB is a level 2 B-BBEE contributor / AVBOB is 'n vlak 2 SEB bydraer
For your information we supply the under mentioned particulars with regard to the policy:

Policy number : AL5258182X6

Table : J18

Type of Insurance : Cash Back Funeral Cover

Start date : 01 March 2019

Remuneration payable : 1st year : R 801.60

............................................2nd year : R 266.93

Total Premium : R 104.00 Monthly

Policy Fee : R 10.00

Guaranteed minimum insured amount in

respect of the basic policy (any debt : R 10,000.00
against the policy will still be deducted)

AVBOB's unique free funeral benefits* for policyholders who appoint AVBOB Funeral Service to conduct the funeral and
provided that the deceased was covered for at least 24 months under an AVBOB policy, include a free basic funeral*, free
transport of the deceased within the borders of South Africa* and a free upfront cash payment of R2,500.00 to the person
arranging the funeral of the deceased. With these costs taken care of, the beneficiary of the policy will get to keep the
money, the entire policy value to spend on important extras such as grave costs, upgrading the coffin, cremation fees,
family cars, catering, airtime and chairs.

* Terms and conditions apply and are explained in the member benefits section of your policy contract.

Thank you for your support.

Yours faithfully

CHIEF EXECUTIVE OFFICER

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AVBOB MUTUAL ASSURANCE SOCIETY
ONDERLINGE VERSEKERINGSGENOOTSKAP AVBOB
INCORPORATED UNDER PRIVATE ACT NO 7 OF 1951 / INGESTEL INGEVOLGE PRIVATE WET NR 7 VAN 1951

368 MADIBA STREET / MADIBASTRAAT 368 PRETORIA 0002

PO BOX / POSBUS 1661 PRETORIA 0001
TEL (012) 303-1000 FAX / FAKS (012) 323-4461

POLICY NUMBER : AL5258182X6

MAIN INSURED PERSON: THABISILE G MKHIZE

AVBOB Mutual Assurance Society (hereinafter referred to as AVBOB) hereby undertakes to pay or otherwise grant to
the person(s) entitled thereto the benefits as set out in this policy, after receipt of this policy, together with a duly
completed discharge form and proof to the satisfaction of AVBOB, of the right or title of the claimant and the
happening of the event as set out herein, subject thereto that:

1. The premiums as set out in this policy are received by AVBOB;

2. Should any rights in terms hereof be disposed of, written notice thereof be given to AVBOB at its Head Office;

3. All payments to be made in terms of this policy shall be made in the currency of the Republic of South Africa at
the Head Office of AVBOB.

This policy is subject to the express provisions that:

1. The proposal for and declaration made in respect of the policy and any other documents in connection
therewith shall form the basis of this contract of insurance;

2. The further privileges, conditions and provisions hereinafter set out together with any annexure(s) and/or
endorsement(s) that may be made, shall form part of this policy.

In proof whereof this policy is issued at PRETORIA on the 02 nd day of January 2019

Yours faithfully

CHIEF EXECUTIVE OFFICER

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DIRECTORS: PA DELPORT (CHAIRMAN) JF RADEMAN (MANAGING) CR VAN DER RIET (DEPUTY MANAGING) LC CELE NA COWIE
HA LAMBRECHTS JJ VENTER MPP NYAMA TA COOPER (FINANCIAL) D PILLAY (MARKETING) LB DLAMINI
GROUP SECRETARY: K GOUNDEN
AVBOB is an authorised Financial Services Provider / AVBOB is 'n Gemagtigde Finansiële Diensteverskaffer
AVBOB is a level 2 B-BBEE contributor / AVBOB is 'n vlak 2 SEB bydraer
 Schedule

Cashback Funeral Cover

Table : J18
Policy Number : AL5258182X6
Policyholder : MISS TG MKHIZE
Main Insured Person : MISS TG MKHIZE
Date Of Birth : 21 December 1981
Start Date : 01 March 2019
Policy Anniversary : 01 March
Policy Year : A period of twelve months beginning on the policy anniversary
Annual Increase : Yes

BENEFICIARY(IES) (Refer to the Privileges, Conditions and Provisions)

NOMFUNDO P MBAMBO - 19980220

BENEFITS NOT GRANTED

Notwithstanding anything to the contrary contained in this policy, the following benefits will not be applicable :

Waiver of premium benefit

PREMIUMS (Refer to the Privileges, Conditions and Provisions)

The premium is payable on the start date and every month thereafter during the lifetime of the main insured person. During the
first policy year the monthly premium amounts to R 104.00 and can increase yearly thereafter on the policy anniversary.

WAITING PERIOD (Refer to the Privileges, Conditions and Provisions)

On all insured persons under this policy, a waiting period of six (6) months will be applicable in respect of death as a result of
natural causes (e.g. heart attack, high blood pressure, etc.) and suicide. The waiting period starts on the start date (20190301).
The waiting period will end on 20190901 and if the policy should lapse and be reinstated, no new waiting period will apply, except
the remainder of the original waiting period, if any. (Refer to LAPSE and REINSTATEMENT under the Privileges, Conditions and
Provisions).

No waiting period will be applicable if the death occurred as a result of any bodily injury caused by accidental, violent, external
and visible means (excluding suicide) provided that the policy has started.

In the event where Children's Option has been exercised, no waiting period will apply.

BENEFIT(S)

Insured Amount (Refer to the Privileges, Conditions and Provisions)

The insured amount is payable on the death of :
The Main Insured Person : THABISILE G MKHIZE
During the first policy year the insured amount is R 10,000.00 and can increase yearly thereafter on the policy anniversary.

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ACCIDENT BENEFIT (Refer to the Privileges, Conditions and Provisions)

This benefit is only applicable on the life of the main insured person.

The insured amount for purposes of this benefit is equal to the insured amount as stated above.

FUNERAL BENEFIT (Refer to the Privileges, Conditions and Provisions)

BREADWINNER BENEFIT (Refer to the Privileges, Conditions and Provisions)

Should the main insured person die during the first 10 years of the policy while premiums are still payable and a claim in
respect of his/her life has been admitted, the policy, where applicable, will remain in force without further premium payment
until the last insured person (i. e. spouse, children, parents and parents-in-law but not any persons covered under the
extended family benefit) ceases to enjoy cover under the policy. The insured amount will be determined from time to time by
the Actuary of AVBOB, but will not be less than 50% of the insured amount as at the time of death of the main insured
person.

Should the main insured person die after the policy has been in force for more than 10 years, and at least 120 premiums
have been received, the policy (where applicable) will remain in force without further premium payment until the last insured
person (including extended family) ceases to enjoy cover under the policy.

EXTENDED FAMILY BENEFIT - EX6 (Refer to the Privileges, Conditions and Provisions)

Insured Amount : R 10000.00

Extended family insured under this benefit :

SB MBAMBO - 19710501
.

CASHBACK BENEFIT (Refer to the Privileges, Conditions and Provisions)

.
Illustrative Premium Increases :
After : 1 year 2 years 3 years 4 years 5 years
R 110.24 R 116.85 R 123.86 R 131.29 R 139.16

10 years 15 years 20 years

R 186.21 R 249.17 R 333.42

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 PRIVILEGES, CONDITIONS AND PROVISIONS
AL5258182X6
WORD DESCRIPTION

1. POLICYHOLDER
The person who entered into this contract with AVBOB.
2. MAIN INSURED PERSON
The person nominated by the policyholder as the primary insured person under this policy. It can be the policyholder or
someone else. If it is someone else, there must be insurable interest.
3. INSURED PERSON
Any person who is covered by this policy and whose names appear in the policy schedule.
4. INSURED AMOUNT
The amount payable by AVBOB when death occurs.
5. PREMIUM
The amount payable by the policyholder to procure the payment of the insured amount when the happening against which
is insured, occurs. This amount is monthly payable in advance.
6. INSURER
The party (in this case AVBOB) who bears the risk for payment of the benefit to another party when the named happening
occurs.
7. PREMIUM PAYER
The person who undertakes to pay the premiums per debit order/stop order/cash.

SECTION A : PRIVILEGES, CONDITIONS AND PROVISIONS

1. PAYMENT OF BENEFITS

i. If, on the death of any of the insured persons, the relevant funeral/cremation and/or setting up of a tombstone is done by
AVBOB (Funeral Service) Limited, the proceeds of the policy shall in the first instance be applied towards the discharge of
the costs of such funeral/cremation and/or setting up of a tombstone and the balance, if any, will be paid in accordance with
the provisions of paragraph ii. or paragraph iii. hereunder.
ii. Should the policy not be ceded and subject to the provisions of paragraph i. above, all benefits in terms of this policy will be
payable to the policyholder or in the case of the death of the main insured person who is also the policyholder, to:
a. the person/persons who is/are stated as beneficiary(ies) in the Schedule OR
b. if the beneficiary(ies) is/are not nominated or the nominated person/persons is/are no longer alive, to the person whom,
for this purpose, will be designated by AVBOB.
iii. Should the policy be ceded, and subject to the provisions of paragraph i. above, all benefits in terms of this policy will be
payable to the cessionary.

2. DEMISE OF THE MAIN INSURED PERSON

2.1 Breadwinner Benefit

Should the main insured person die during the first 10 years of the premium paying term and a claim in respect of his/her
life has been admitted, the policy, where applicable, will remain in force without further premium payment until the last
insured person (including spouse, children, parents and parents-in-law, but excluding all members of the extended family)
ceases to enjoy cover under the policy. The insured amount will be determined from time to time by the Actuary of AVBOB,
but will not be less than 50% of the insured amount as at the time of death of the main insured person. If the main insured
person dies after the policy is 120 months old and 120 premiums have been received, the policy will become paid-up for all
remaining insured persons still covered, including the extended family members.

2.2 Policy Ownership

The policy ownership will in the above-mentioned cases pass to one of the surviving insured persons in the following order:
Spouse of the main insured person; father of the main insured person; mother of the main insured person; oldest child of
the main insured person over the age of 18 years; father-in-law of the main insured person; mother-in-law of the main
insured person; oldest child of the main insured person under the age of 18 years. The new policyholder will not have the
capacity to any negotiations with the policy. In the event that the main insured person passes away during the premium
payment term and a claim in respect of their death is declined, the policy will be declared null and void and all premiums
received forfeited to AVBOB.

2.3 Continuation Option (Only applicable if Breadwinner Benefit was not granted)
The remaining spouse has the option to apply for his/her own policy within three months after death of the main insured
person and provided that he/she has not yet reached the age of 65. The policy will be issued without a waiting period (only
if the original 6 month waiting period has lapsed). The spouse has the option to remove some of the insured persons but
not to make additions. He/she also has a choice of reducing the insured amount but not to increase it.
NB: The remaining insured persons do not enjoy cover from the date of acknowledgement of the claim until the start date
of the continuation policy.

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3. INCREASE IN INSURED AMOUNT AND PREMIUMS (if chosen)

If so opted by the policyholder AVBOB shall, at its exclusive discretion and subject to risk factors, annually increase the
premium and benefits respectively under the policy subject thereto that the increase will not exceed a rate of 10% and will
be applicable for a period of twelve (12) months starting on 1 July of each year. The insured amount will increase with an
amount equal to two thirds of the percentage rate that the premiums increase with. The annual increase of the insured
amount and premiums will apply as long as the policy is in full force and while premiums are actually payable thereon.

The yearly increase will cease on the earlier death of the main insured person (in instances where surviving family
members enjoy continued cover). The policyholder will yearly be notified in writing of such increase. The policyholder has
the right to cancel the increase of the insured amount and premiums for any year by written notice, which shall reach
AVBOB not later than 30 days prior to the relevant policy anniversary. If the increase of the insured amount and the
premiums have been cancelled in this way for two consecutive years any further annual increases will cease. If, for any
reason, AVBOB does not receive the increased premium for three (3) consecutive months, the increase in the premium
and insured amount will be reversed. The annual increase of the insured amount and premiums may, however, thereafter,
at the discretion of AVBOB and subject to any requirements laid down by AVBOB including proof of insurability of the
main insured person, be continued at the request of the policyholder.

4. CHILDREN'S OPTION (only applicable if Children Benefit was chosen)

Each child that was previously covered under this policy has the right to apply, within three (3) months after his/her cover
has expired, without evidence of insurability, to AVBOB for funeral insurance not exceeding R15000-00. No waiting period
will apply.

5. OCCUPATION, RESIDENCE AND TRAVEL

This policy is free from all restrictions as to future occupation, residence or travel of the main insured person.

6. EXCLUSION

Suicide and breach of law

Should any of the insured persons commit suicide or die due to breach of law (whether while sane or insane) within six (6)
months of the start date of this policy, no benefits will be payable in terms of this policy and all premiums paid hereunder
shall be forfeited to AVBOB.

7. AGE

Proof of the age of the insured persons under the policy must be provided to the satisfaction of AVBOB before any benefit
under this policy will be paid and/or granted. No death claim will be considered without proper identification by means of a
certified copy of the identity document of the policyholder and deceased.

Should it at any stage during the lifetime of the policy be found that the age of any of the insured persons under the policy
is not correct, premiums will be recalculated according to the correct age and a premium debt (if applicable) in terms of
the difference will be applied against the policy. This premium debt will not bear any interest and will be deducted from the
first claim against the policy.

8. PAYMENT OF PREMIUMS

Premiums are payable monthly in advance and are due on the first day of each month. The premium payer cannot change
during the life of the policy.

9. DAYS OF GRACE

One calender month grace is allowed for the payment of all premiums except the initial premium. The initial premium must
be received by AVBOB on or before the start date.

10. LAPSE/CANCELLATION

This policy shall lapse and become null and void if any premium, or part thereof, is not paid within the days of grace. All
premiums paid shall then be forfeited to AVBOB. (Refer to REINSTATEMENT).

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 AL5258182X6

11. REINSTATEMENT

Should this policy lapse, it may within three (3) months of the date of lapse be reinstated at the request of the
policyholder, at the reasonable discretion of AVBOB and subject to any requirements laid down by AVBOB including
proof of insurability of the main insured person. No waiting period will be applicable except for the remainder of the
original waiting period, if any. Arrear premiums may be placed as premium debt against the policy but may not exceed
the maximum of six (6) premiums.

Any arrear premiums in excess of six (6) premiums should be paid before the policy may be reinstated.

Premium debt is interest free and may be repaid at any time or will be recovered from the proceeds of the claim against
the policy or cash back benefit, as applicable.

12. PROVISIONS APPLICABLE TO CHILDREN

Notwithstanding the aforegoing the total insured amount under this policy and any other policies in respect of any child
under the age of 14 years shall not exceed the amount provided in Section 55 of the Long-Term Insurance Act 1998, or
as amended from time to time.

13. REVISION
Premiums and benefits can be increased or decreased from time to time to ensure that premiums are always adequate
to pay the benefits.

14. WAITING PERIOD

On all insured persons under this policy, a waiting period of six (6) months will be applicable in respect of death as a
result of natural causes (e.g. heart attack, high blood pressure, etc.) and suicide. The waiting period starts on the start
date (20190301). The waiting period will end on 20190901 and if the policy should lapse and be reinstated, no new
waiting period will apply, except the remainder of the original waiting period, if any. (Refer to LAPSE and
REINSTATEMENT.)

No waiting period will be applicable if the death occurred as a result of any bodily injury caused by accidental, violent,
external and visible means (excluding suicide), provided that the policy/benefit has started.

15. RECOVERY OF DEBT

The benefits in terms of the policy shall at all times be reduced by the debt (e.g. premium debt) against the policy.

16. SUNDRY PROVISIONS

This policy is subject to any further provisions (if any) as stated hereunder. If a dispute arises in terms of any of the
conditions of the policy, the original contract will be used as final ruling.

17. COMMISSION
The premium of the basic policy for the main insured person and children will be added together to calculate the
commission on the policy. All other benefits, i.e. CO1 (spouse benefit), OV6 (parent benefit), EX6 (extended family
benefit) and SP (savings plan) will be calculated separately.

18. FUNERAL BENEFIT

Should the relevant funeral/cremation be done by AVBOB (Funeral Service) Limited on the death of any of the insured
persons the proceeds of the policy must, in the first instance, be applied towards the discharge of the costs of such
funeral/cremation and/or the setting up of a tombstone and the balance, if any, paid in accordance with the provisions of
the policy to the successor(s) in title as defined in the policy.

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 AL5258182X6

19. UNCLAIMED BENEFITS

A policyholder has the right to unclaimed benefits regardless of the time frame. AVBOB will, where no claim has
been submitted, attempt to trace the policyholder within a period of 6 (six) months of the benefits becoming payable,
either as a benefit or a maturity payment, if applicable. Should AVBOB be unsuccessful in tracing the policyholder, it
will repeat the tracing process within a period of 3 (three) years and again within a period of 10 (ten) years if the
benefits remain unclaimed. If, after 10 years, AVBOB is still unable to trace the policyholder, Avbob will engage the
services of an external tracing company to attempt to trace the policyholder.

The tracing requirement will only be waived if the value of the benefits is worth less than R1000 and the costs of the
tracing exceed this amount. Any reasonable administrative and tracing costs incurred after the first attempt to trace
the policyholder may be recovered from the unclaimed benefits. Any direct administrative, tracing and administration
fees levied on unclaimed benefits may change over time and will be communicated to the policyholder over the life
of the contract.

It remains the responsibility of the policyholder to inform AVBOB of any changes in respect of his or her contact
information and any changes in respect of the contact information of the beneficiary. AVBOB will rely on the
policyholder’s consent which was given on the application form to share any personal information with a tracing
company to facilitate tracing of the policyholder in the event that tracing becomes necessary in future.

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 AL5258182X6

SECTION B : ADDITIONAL BENEFITS

CASHBACK BENEFIT

The product offers a cashback benefit payment after every 5 years when 100% of the premiums paid during the fifth
(tenth/fifteenth/twentieth/etc) year will be paid back. This cashback payment will only be paid to the policyholder on the policy.
However:
- The policy must be 60 months old and 60 premiums must be paid.

- After an acknowledged claim within any cashback period the cashback period will start again from the first day of the
month in which the death occurred.

- If a claim was declined, the cashback will not be affected.

- If a death occurred before the cashback benefit payment, but is only submitted after the cashback has been paid, the
cashback amount will be deducted from the proceeds of the claim. If the proceeds of the claim are less than the amount of
cashback owed, then the balance will be deducted from the next claim against the policy or the next cashback payment,
as applicable.

- The cashback will only be applicable on the premiums in terms of the insured persons for the whole term of 5 years. E.g. If
an insured person was added during year 3 of the policy, this person will only be considered for a cashback in year 10 and
thereafter.

- If the policy lapsed within a 5-year cashback period and is reinstated (refer to REINSTATEMENT under the Privileges,
Conditions and Provisions), the cashback period will continue as from the original start date or the cashback date,
whichever is the later. Any debt on the policy will be deducted from the proceeds of the cashback benefit.

- There will be no option to apply the cashback amount as premiums to the policy.

NB: If there is a savings plan benefit on the policy, the premium of the SP benefit will NOT be included in the premium for
the calculation of the cashback. However, premium debt will be deducted from the cashback amount.

REVOCABLE BENEFICIARY

Notwithstanding anything to the contrary contained in this policy, it is hereby declared that the person(s) whose particulars are
stated in the Schedule is/are nominated as beneficiary(ies) under this policy. In the event of the death of the main insured
person while this nomination(s) is/are in full force, the benefits shall be payable to the beneficiary(ies); provided, however, that
if the funeral/cremation of the deceased is conducted by AVBOB (Funeral Service) Limited, the benefits be applied in the first
instance towards the discharge of the cost of the funeral/cremation of the deceased and/or the setting up of a tombstone. The
beneficiary(ies) will then only be entitled to the balance of the proceeds of this policy, if any, after discharge of the cost of the
said funeral/cremation and/or setting up of a tombstone.

This nomination(s) lapse(s) and is/are no further in force and effect:

i. If this policy is discontinued for any cause other than by the death of the main insured person.
ii. If this policy is ceded, encumbered or pledged in any way.
iii. On receipt of the written request thereto of the policyholder given to AVBOB at its head office.

The policyholder may at any time while this policy is in force and has not been ceded, encumbered or pledged in any way,
change the beneficiary(ies) nominated herein by the submission of written notice to AVBOB at its head office together with a
certified copy of the Identity documents of the policyholder and the nominated beneficiary(ies). AVBOB remains entitled to
deduct any amount owing by the policyholder to AVBOB in terms of this policy from any amount payable to the
beneficiary(ies).

NB. If no beneficiary is nominated all benefits will be payable to the estate of the policyholder.
ACCIDENT BENEFIT

Should the main insured person die before his/her sixtieth (60th) birthday and while the policy is still in force for its full insured
amount, sustain any bodily injuries caused by accidental, violent, external and visible means which solely and independently of
any other cause within ninety (90) days from the date of the occurrence which caused the injury resulting in his/her death,
AVBOB will pay the insured amount under this benefit, subject to the conditions set out herein. The insured amount for the
purpose of this benefit shall be the same as stated in the Schedule.

AVBOB will not be liable for any claims under this benefit if the death of the main insured person results directly or indirectly
from suicide, or attempted suicide or self-inflicted injury, irrespective of whether the main insured person be sane or insane at
the time of such occurrence, the abuse of alcoholic liquor by the main insured person or while the alcohol content of the blood
of the relevant main insured person exceeds 0.05 gram per 100 ml; consumption of narcotics or other drugs and/or stimulants;
hunting, mountaineering, racing, boxing, wrestling, war, riot, civil commotion; terrorism, military activities, the violation of any
law by the main insured person, or participation, or attempted participation in aviation except as a bona fide fare-paying XN051007
passenger on a regular flight by a registered airline.
 AL5258182X6
EXTENDED FAMILY BENEFIT (EX6)

.
1. INSURED PERSONS

The brothers, sisters, foster-children, grandparents, second spouse of the main insured person
and their parents as stated in the schedule.

2. BENEFITS

The insured amount as stated in the Schedule payable on the death of each insured person.

3. WAITING PERIOD

A waiting period of six (6) months is applicable from the start date of the benefit or the start date of
the insured person, if added later, in respect of death due to natural causes and suicide. There will
be no waiting period in respect of death due to unnatural causes (excluding suicide), provided that
the policy/benefit has started.

4. LIMITATIONS

4.1 The maximum age on the start of the policy is 75 (next birthday).

4.2 The maximum insured amount per insured person granted on the start date of the policy
is R30 000.00 total. Should a claim be lodged on the life of any of the insured persons
under this benefit and it is found that the total initial insured amount of all policies
exceeds the amount of R30 000 the oldest policy will be assessed and all premiums
paid on the younger one(s) exceeding R30 000 will be refunded.

4.3 Should it be found that the insured person was too old to be covered under the policy
when the policy was applied for, the insured person will be deleted from the policy and
all premiums paid in respect of that insured person be refunded.

4.4 Limitations on children covered under this benefit a) The maximum insured amount per
child under the age of 6 years is R20 000.00 b) The maximum insured amount per child
from 6 years to 13 years is R50 000.00

NB The insured amount in respect of the benefit will increase yearly on the policy
anniversary at the same rate applicable to the basic policy. In the case of the death of
the policyholder, cover on the persons still insured under this benefit, will cease if 120
premiums were not received and the policy is not yet 120 months old. Refer to
Privileges, Conditions and Provisions section 2.1.

5. ADDITIONS

Extended family members can be added to the benefit after the start date to a maximum of six (6).
A deceased extended family member under this benefit may not be substituted by another one. If
an extended family member is deleted from the policy while still alive they cannot be added again
later and all premiums will be forfeited to AVBOB.

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 AL5258182X6

SECTION C: MEMBER BENEFITS

FREE FUNERAL BENEFITS AND TRANSPORTATION

In accordance with AVBOB’s mutual status, the Society may from time to time (at its sole discretion) make ad hoc special
additions and changes to the benefits available to policyholders by virtue of their membership (i.e. as member benefits).

The Society has introduced free funeral benefits, which are available to members whose policies are in force and where a
comprehensive funeral is conducted by AVBOB Funeral Service Limited.

In terms of the free funeral benefits, a member and all persons covered under the policy will be entitled to the following,
(subject to the stated amounts and conditions which may change from time to time):

- A 15% discount (maximum of R4,000.00) on specified funeral services where the policy is in force and the life insured
was covered for less than 6 months and the death of the life insured occurred as a result of natural causes.

- A R4,000.00 discount on a funeral and free transportation of the deceased within the borders of South Africa where
the policy is in force and the life insured was covered for less than 6 months and the death of the life insured occurred
as a result of unnatural causes.

- A R4,000.00 discount on a funeral and free transportation of the deceased within the borders of South Africa where
the policy is in force and the life insured was covered for 6 months or more but less than 24 months.

- A free basic funeral to the value of R11,390.00 consisting of funeral services, a coffin and a hearse plus free
transportation of the deceased within the borders of South Africa where the policy is in force and the life insured was
covered for 24 months or longer. In addition, a cash benefit of R2,500.00 is provided to cover incidental funeral
expenses.

The free basic funeral excludes any external costs such as cremation and grave costs.

These discretionary benefits remain a privilege of the policy and the value of these member benefits will be adjusted from time
to time as they are renegotiated with service providers in order to ensure members continue to receive benefits that are
relevant. Any changes to the benefits will be communicated annually to policyholders and the latest benefits will be available
on the Society’s website.

Values of free funeral benefits for children under the age of 14 years are available on the Society’s website.

For funerals/cremations in Namibia, please contact your nearest AVBOB office in Namibia for more information.

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PRINCIPLES AND PRACTICES OF FINANCIAL MANAGEMENT (PPFM)

1. GENERAL

AVBOB is a mutual society and issue policies that provide death benefits and savings policies. Some policies entitle the
policyholder to participate in bonus declarations and these policies are referred to as products with Discretionary Participation
Features (DPF).

2. OVERRIDING PRINCIPLES

The following overriding principles take precedence over other principles:

- All contractual obligations will be followed.

- Declarations of bonus are determined at the sole discretion of the Board.
- Bonuses can be allocated if there is a distributable surplus in the fund.
- We aim to manage the business in line with the reasonable expectations of all policyholders and take into account our
past practice, industry practice and representations made to policyholders.

3. DECLARATION OF BONUSES ON POLICIES WITH DISCRETIONARY PARTICIPATION FEATURES

3.1 Principles

Common bonus rates will be determined for appropriate groups of policies reflecting an element of cross-subsidy and
pooling of risks for policies with similar characteristics. To retain flexibility in our investment policy and to protect the
solvency of the business a portion of the payout value may be retained in a non-guaranteed form.
3.2 Practices
Bonus rates are determined annually in respect of the following categories of policy:
- Savings Policies
Table codes: S01, S02, S03, S04, S05 and S06
- Compound Reversionary Policies
Table codes: 102, 103, 133, 203, 233, 302, 303, 333, 502, 612, 622, 712, 722, WD1, WD2, WD3, WD6, WD7 and
WD8
- Simple Reversionary Bonus Assistance Policies
Table codes: 023, 024, 025, 027, 029, 032, 033, 034, 035, 036, 037, 099, 800, 801, 803, 808, 809, 810, 811, 813,
820, 821, 823, 828, 829, 900, 901, 910, 911, 920, 921, W47, W48, W49, W50, W51, W52, W53, W54, W55, W56,
WB1, WB2, WB3, WB6, WB7, WB8, WG1, WG2, WG6, and WG7
- Policies with compound non-vesting Claim Bonuses
Table codes: 714, 724, 804, 805, 806, 807, 814, 815, 824, 825, 904, 905, 924, 925, T04, T05, T14, T15, T24 and T25

4. GENERAL CONDITIONS IN DETERMINING BONUS RATES

4.1 Savings Policies
The general intention is that, subject to affordability, the aggregate bonus rate will reflect at least the gross return on
money market instruments and at most 15% per annum. The Board will determine the proportion of total bonus to be
declared as vesting and non-vesting each year. Throughout the year an interim bonus rate will be allocated to each
policy and for policies remaining at the end of the year, a final bonus rate will be determined.
4.2 Other DPF policies
Bonus rates will be determined annually by the board subject to affordability and will under normal circumstances be
stable from year to year and will not vary according to specific experience of the business. Throughout the year an
interim bonus rate, based on the last declared final rate, will be allocated to each policy.
5. DECLARATION OF SPECIAL BONUSES ON ALL POLICIES
5.1 Principles
From time to time the Board may, at its own discretion, declare an ad hoc or special bonus increase in the benefit of
some or all policyholders. The declaration of such bonuses will be subject to the strategic and financial position of the
Society and will be at the sole discretion of the Board. The bonuses will be determined separately for different groups of
policies with similar characteristics in a manner that is broadly equitable to all policyholders and may be vesting or
non-vesting bonuses.
5.2 Practices
The Board will only consider the declaration of special bonuses if the financial position of the business shows that the
excess of assets over liabilities (as reported to the Registrar) exceeds the long-term minimum target set by the Society
and may be declared less frequently than annually. Should the long-term solvency target set for the business not be
achieved, the Board may revoke or remove any past-declared non-vesting special bonus.
 GENERAL INFORMATION

1. WHEN A DEATH OCCURS

1.1 What must you do?

You must, irrespective of the time of day or night, contact your local AVBOB representative as soon as possible so that
arrangements can be made for the removal of the deceased from the place of death. Our representatives, countrywide, are
on duty 24 hours per day.

Normally funeral arrangements are made at our local agency, but should circumstances otherwise dictate, or should you so
wish, our representative can visit you at home in order for the necessary arrangements to be made. Should the funeral or
cremation be at a place other than where death occured, you should nevertheless contact your nearest AVBOB agency.

The date or time of a funeral cannot be determined before the funeral or cremation arrangements have been made as there
are many people and authorities involved with such arrangements and the date or time you may have in mind may clash
with existing arrangements.

1.2 What documentation is required?

It is required by law that all deaths must be registered. To put us in a position to do so, the following is required :
i. The identity document of the deceased. Should the deceased not be a South African citizen, his/her passport is required.
ii. A medical certificate completed and signed by the deceased's doctor. If necessary, we will help in obtaining this.
iii. Where applicable, the name of the pension fund and the pension fund number of the deceased.

From our side we require all funeral policies under which the deceased was covered or proof of membership of any funeral
scheme.

1.3 Who should make what decisions?

When arranging for the carrying out of the funeral or cremation it will be required of you to make certain decisions. It will be
advisable to deliberate beforehand with the next-of-kin, friends, clergyman, etc. of the deceased so that all persons involved
may be satisfied. You may also be lead by the wishes of the deceased before death, e.g. by the contents of the will.

The more elementary decisions involve the following :

i. Must the deceased be buried or cremated?

ii. Where must the funeral or cremation service be held? Not only in what town or city but also the venue e.g. in the
church, chapel or at the graveside.
iii. Should a memorial service be required, which clergyman should carry out the memorial service?
iv. What type of flowers, which is traditionally part of a funeral or cremation, is required? What must be done with them at
the end of the service?
v. Do you require notices of the funeral or cremation in the press?
vi. Who will act as pall-bearers?
vii. How many pamphlets are required as well as the contents and layout thereof?
viii. What type of coffin is preferred?

Dependent on circumstances, it might be required of you to make further decisions other than the above-mentioned. By the
nature of AVBOB's experience we will at all times be prepared to supply you with advice and assistance before you make
any definite decisions.

After all decisions have been made, we undertake, as a normal part of our service, to make arrangements with all persons
and authorities, on your behalf, to ensure that hitches or problems are not encountered during the funeral or cremation
service.

2. PRESENTING A CLAIM
The success for the prompt finalisation of claims rests on handing the correct and complete documents at the earliest possible
opportunity to your nearest AVBOB agency. Some of the following documents are required in most eventualities :
- Death certificate, as well as a copy of the first page of the BI1663 (previous) or pages 1 of 3, 2 of 3 and 3 of 3 of the BI1663
(latest) form
- Policy document or schedule/certificate
- Claimant's Declaration (to be obtained from the Agency)
- Medical certificate (to be obtained from the Agency for completion by the deceased's family doctor)
- SAPS Declaration when the death is caused by unnatural causes (to be obtained from the Agency)