Dread Disease Benefit

Dread Disease Benefit

If a Member suffers a Dread Disease event on or before the Normal Retirement Date that satisfies the relevant criteria and severity levels per event as defined in the Policy, a lump sum amount equal to seventy five (75%) of the Member’s annual Remuneration at the date of the event becomes payable.
Insurance cover for existing Members will start on 1 July 2013, subject to the Member before this date not having suffered from any condition and has not undergone any procedures for any condition which may be associated with the dread disease events.

Insurance cover for new Members joining the scheme on or after 1 July 2013, will start on the date of joining the Fund, subject to the Member before this date not having suffered from any condition and has not undergone any procedures for any condition which may be associated with the dread disease events.

Dread Disease Events covered:

  • Heart attack with severe permanent impairment in function
  • Coronary Artery Bypass graft (CABG). CABG is covered under this benefit if open heart surgery is undergone to correct the narrowing of, or blockage to three (3) or more coronary arteries by means of a by-pass graft.
  • Cancer, a malignant tumour positively diagnosed with histological confirmation and characterized by the uncontrolled growth of malignant cells and invasion of tissue.
  • Stroke with severe impairment
  • Total Blindness. Total Blindness means total and permanent loss of sight in both eyes, with sharpness of vision of 3/60 or worse in the better eye when measured in a test with the use of visual aids and performed and confirmed by an ophthalmologist.
  • Renal Failure. Renal failure means end stage chronic irreversible failure of both kidneys to function, as a result of which regular dialysis is necessary.

Note: A Claim will not be assessed or paid by the Insurer if the Employer and the Member does not submit the Dread Disease claim and all the supporting claim documents and medical evidence to SOMA within 6 months from the date the Member is formally diagnosed with a Dread Disease.