Insurance policy FAQs and Answers
FRANK.NET offers a range of insurance policies designed to protect you from financial hardship should something unexpected happen that changes their circumstances. Browse through the below FAQs for answers to questions that are often asks by our customers.
Alternatively, you can get assistance from one of our experienced agents by calling 0860 722 227.
1. What insurance products does FRANK.NET offer?
FRANK.NET specialises in Life Cover, Salary Protection,Disability Cover and Serious Illness Cover. These products cover the vast majority of South Africans' long-term insurance needs.
2. How soon will I be covered after taking out a policy?
Once the agreement is formalised, you can choose to have your cover start from the 1st of the next month or even the following month.
3. How soon will a claim be considered?
Some products, such as cancer cover, include a waiting period before claims will be considered. Be sure to check with your agent whether the insurance products you have chosen include a waiting period.
4. Why do my premiums increase but not my cover?
The cost of life insurance increases with age. As a result, the premiums for equivalent cover go up each year. We do, however, have simple processes in place to make sure that you can increase your cover at any time.
5. Can I claim a percentage of my cover?
No. Once the claim is approved, we pay out the lump sum. In terms of Salary Protection, we only pay monthly what was agreed upon when the policy was bought.
6. How long should I have stopped smoking for before FRANK can adjust my underwriting as a non-smoker? Will I need to provide evidence?
No evidence is required. However, you are required to confirm in a truthful manner that you have not smoked in 12 months. Lying about this could affect any claims.
7. What if I've already had an HIV test performed and want to submit that for underwriting?
Unfortunately, this isn't possible. We require very tight control over the testing process and need to ensure the validity of the result. This is why we insist on our particular HIV-testing process being followed in order for you to enjoy the benefits of cover from FRANK. We pay for your HIV test, so you won't have to pay out of your own pocket.
8. Why are all customers required to have an HIV test?
All customers are required to undergo HIV testing in order to enjoy the full coverage that's offered with each of our products. The cost of the HIV test is completely covered by FRANK and is compulsory to become a policy holder and enjoy full cover.
9. How long do I have in order to go for my HIV test?
We need to have the results of your HIV result within 90 days of taking out your policy.
10. Are there any circumstances under which FRANK will not pay out?
In terms of Serious Illness, disability and Salary Protection (illness or accident) policies, we will not pay out if you became ill or disabled because you broke the law, drank too much alcohol, took drugs, drank poison or participated in war, riots or terrorism.
Also, if you withhold or fail to disclose any relevant information to FRANK.NET, your claims could be affected or even declined.
11. Will FRANK payout if anything changes once my agreement is in place?
Any changes to your lifestyle, but not your medical conditions, could affect your cover, premiums and payout. Let us know if youchange your job, start or stop smoking, or stop or join any new sport or hobby that may be considered risky.
FRANK also needs to know if you'll be spending more than amonth outside South Africa. After being informed about any of these changes, we may have to adjust your cover, payout and premiums. If you don't let us know, any future claim may be affected.
12. Why will I not be covered from my debit date which is before the 1st of the next month?
We need you to pay the premium prior to the start of the month. We do not work on a pro rata basis.
13. Who can own a policy with FRANK.NET?
You need to be between 18 and 65 years old and also be a South African citizen or a permanent resident with a green ID book.
Contact FRANK on 0860722 227 for more information regarding the above FAQs or to invest in one of our insurance policies.