Stangen Salary Protection
Protect your world by protecting your income
Your income supports the lifestyle you enjoy. Where would you be without it? You could be left struggling to pay everyday expenses like your bond, rent, groceries or school fees. Stangen Salary Protection will pay you a monthly income if you are “disabled” through illness or injury and are unable to work. The payments will start after you have been off work for 3 months and will be limited to 75% of your after-tax income immediately before you became disabled. You’ll know that your family and financial commitments will be taken care of when you’re unable to work. Now that’s wise.
Up to 75% of Your Salary Paid Out
Customize your cover to suit you and the needs of your loved ones. Qualify for up to R90 000 per month of cover.
What does my Salary Protection do?
Stangen’s Salary Protection will pay you a monthly income if you are disabled through illness or injury and are unable to work. The payments will start after you have been off work for 3 months and will be limited to 75% of your after-tax income immediately before you became disabled. For the first 12 months after you go off work, we will consider your specified occupation when assessing your ability to work. Once the first 12 months have passed, we will better understand your situation, and we will also look at alternative occupation in which you could work, and to which you are suited by skill, education and training. On confirmation of a disability your monthly benefit will be payable until you recover, turn 65 or die, whichever comes first. Salary Protection claims will be evaluated by Stangen’s appointed medical team, using industry best practice to assess your disability.
What does my Salary Protection not cover?
•Active participation in war, civil commotion, insurrection, riot, usurpation of power, terrorism or acts of terrorism
Intentional or gross negligent self-inflicted injury
• Failure to provide adequate medical evidence/proof of continuing disability
• Failure to follow reasonable medical advice to prevent, minimise or repair the disability
• Excessive consumption of alcohol, intentional inhalation of fumes, intentional or negligent consumption of: poisons, drugs, narcotics or medication (unless prescribed by an independent medical practitioner and used as prescribed)
• You are not covered for claim(s) arising from cosmetic or elective surgery unless those claims arise due to complications of the surgery.
You are not covered for claim(s) arising from routine pregnancy or maternity leave or where you have
voluntarily elected to terminate pregnancy, unless those claims arise due to complications.
What can my Salary Protection be used for?
Protecting your salary so that you can continue to pay the bills even when you can’t work.
How much Salary Protection can I buy?
Depending on your income, you can qualify for Salary Protection up to 75% of your after-tax salary, from R3 750 up to R90 000.
When does my Salary Protection expire?
Salary Protection expires when you turn 65, retire or die, whichever occurs first.