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Applying for the Education Plan is a simple process and will only require a few minutes of your time.

Remember that you need to be a permanent South African resident, and at least 18 years of age.

The minimum investment amount is R150, and the maximum R600 / child. The term must be at least 10 years.

Have the following ready before you begin:

  • Banking details (of the person who will be paying the premiums): account number (not ATM number), branch name and code.
  • Contact details: phone numbers and postal address (yours and the premium payer's).
  • Your South African ID number.

This form should only take about 10 minutes to complete. If you need help at any point along the way, please call 0860 60 60 61.

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Personal Details: 
Title:*
First Name/s:*
Surname:*
Marital Status:*
Maiden Name:
Identity Number:*
Home Phone:
Work Phone:
Cell Phone:
Email:*
Postal Address:*
 *
 
Postal Code:*
Employment Details: 
Self-employed:
Employer's Name:*
Employer Code:*
Your Department:*
Salary Reference No:*
Salary Frequency:
Salary Payment Day:*
Occupation:*
Appointment Date:*  
Worksite Name:
Worksite Code:
Work Address:
 
 
 

Child / Children's Details, Premium & Term

The minimum term is 10 years. You need to be at least 18 years old.

  
First Name/s:*
Surname:*
Date of Birth:*
Your Relationship:*
Monthly Premium:*
Input Amount
Terms (years): *
Input Term
Bonus cover :*
Remove

Child 2

  
First Name/s:*
Surname:*
Date of Birth:*
Your Relationship:*
Monthly Premium:*
Terms (years): *
Bonus cover :*YesNo
Remove

Child 3

  
First Name/s:*
Surname:*
Date of Birth:*
Your Relationship:*
Monthly Premium:*
Terms (years): *
Bonus cover :*YesNo
Remove

Child 4

  
First Name/s:*
Surname:*
Date of Birth:*
Your Relationship:*
Monthly Premium:*
Terms (years): *
Bonus cover :*YesNo
*Bonus cover option
For an increased premium, if you die in the first 10 years as the result of an accident, your monthly premiums will be paid for the rest of the 10-year period; the same applies if you die from causes other that an accident after the first 6 months.
Payment Details:
Bank Account Owner: SelfLife PartnerOther
Partner's/Other's number:
Source of income:
Source of premiums:
My / our current financial position will allow us to meet the monthly premiums on this policy:
Name of bank:
Branch:
Branch code:
Account Number:
Type of account:
Please debit the premiums to this account each month on the day selected, or as soon as possible thereafter:

General mandate:

I hereby grant permission for Old Mutual to arrange for payment of my premiums, including increases that may be made during the life of the policy and to gather information from the bank to facilitate the payment process. If additional medical information is required, the acceptance may be delayed, in which case premium deductions will start at the earliest reasonable opportunity.

Types of Debit Orders:

Old Mutual currently offers you two types of Debit Orders - Fixed and Flexible Debit Orders. The fixed and flexible refers to the deduction days.

What is a Fixed Debit Order?

It is a Debit Order where your premium is deducted on the same day every month. You choose this date based on your preference, e.g. on the 1st or 25th of each month. It is recommended that you make the Debit Order payment date on the same day that your salary is paid into your bank account. This will help avoid “R/D” or “Dishonour fees”. It will also help you to plan your monthly budget.

What is a Flexible Debit Order?

This payment method is meant for policyholders who don’t necessarily receive their salary on the same day every month. In this case, Old Mutual, with your permission, and if we can get access to the information from your employer, establishes on which day your salary is paid into your bank account and uses this information to call for the premium at your bank on the appropriate day. If Old Mutual is unable to establish your salary payment date, the deduction will take place on the preferred day as chosen by you.

Fixed debit order: Flexible debit order:

Debit order:

I hereby grant permission for Old Mutual to arrange with the bank above, or any other bank to which I might transfer my account, for payment of the premiums (current and/or up to two arrear premiums in terms of the policy, including increases that may be made during the life of the policy), due from my account above. The frequency of the deduction is monthly and the date of deduction is the date indicated by me as my preference or (in respect of the flexible debit order mandate only) a day that Old Mutual ascertains to be more appropriate.

Policy Questions:
1.
Have you applied for life insurance in the past 5 years and not been given cover - i.e not accepted, or been given cover at an increased premium?		 YesNo
2.
Have you, your husband/wife or any sexual partner ever tested positive for the HI virus or received treatment or medical advice for AIDS or conditions related to AIDS or the HI virus?		 YesNo
3.
Are you suffering from, or have you during the past year suffered from unintentional weight loss, persistent night sweats, persistent fever, persistent swollen glands, persistent skin rashes, persistent diarrhea, persistent coughing or persistent digestive disorders?		 YesNo
4.
Are you aware of any medical condition that could materially affect your health or ability to work over the next 1 to 10 years?		 YesNo
5.
Have you cancelled an existing policy within 4 months to replace with this policy or do you intend to do so within the next 4 months?		 YesNo
6.
This product is offered to you without taking your existing policies, assets and liabillities into consideration. Are you comfortable that this policy satisfies your financial needs?		 YesNo

Terms and Conditions

The terms and conditions of the policy will be supplied to the policyholder in the event of a successful application.

The following information is made available to you by Old Mutual in terms of the Electronic Communications and Transactions Act.

Membership, accreditation and codes of conduct

Old Mutual Life Assurance Company (South Africa) Limited is a member of the Association of Savings and Investment South Africa (ASISA). ASISA’s contact details and the Code of Conduct can be accessed at www.asisa.co.za. Old Mutual Life Assurance Company (South Africa) Limited is regulated by the Financial Services Board (FSB), whose contact details can be obtained on www.fsb.co.za.

Service of legal documents

Legal documents may be served at our Registered Office (Mutualpark) in Jan Smuts Drive, Pinelands.

Summary of product
Education Plan

The Old Mutual Group Schemes Education Plan is a life policy that provides an opportunity to save monthly in order to help pay for the Nominated Child’s (the child named on the application form) education. Investments are made for a chosen term (at least 10 years). Premiums after expenses are invested in the Old Mutual Smoothed Bonus Portfolio and share in profits from investments. Old Mutual pays a value (which depends on the reason for the withdrawal) at the earliest of the end of the term, death of the Nominated Child or surrender (if the requirements are met, the policy is made paid-up on the death or disability of the policyholder). Premiums increase every year (currently at 6%) on 1 July, with the first increase taking place after the policy has been in force for at least 6 months. One part Cash withdrawal is available within the first 5 years and thereafter at 5-year intervals. The policy may not be ceded (e.g. offered to a bank as security for a loan).

For full policy terms and conditions, please refer to the policy contract pack.

Price and manner of payment

The price of the policy is the monthly premium. There are no costs in addition to this and all expenses (including any provision made for commission) are deducted from the premium amount.

Premiums are payable by debit order from the account provided in the payment details section on the application form.

When the policy will be sent

In the event of a successful application, Old Mutual will send the policyholder a policy contract mail pack in a few weeks. This pack includes the policy document (detailing the terms and conditions of the policy) and information that will enable the policyholder to make an informed decision about the policy.

Copy of application

Please print or store a copy of the application form for your records.

Right to review

The policyholder has the right to review the policy and to withdraw from it within 30 days after receipt of the summary of the policy (provided with the policy contract pack). If any premiums were paid before the withdrawal, they will be refunded to the policyholder in full.

This right to review will be exercised by writing to the Client Services Manager at PO Box 66, Cape Town, 8000.

Complaints and dispute resolution procedures

The insurance industry is governed by legislation that aims to protect the policyholder. Below is the process to follow if the policyholder has any concerns about the financial service rendered to them.

  1. For queries or concerns about the documents included in your policy contract pack, please get in touch with OMSTA Complaints Management, PO Box 201, Pinelands, 7405, call us on 021 509 0506, fax us on 021 509 0830 or email us
  2. For compliance issues, please contact the Group Schemes Compliance Officer, PO Box 73, Cape Town, 8000, call us on 021 509 1193 or email us
  3. If you are still not satisfied, please contact the Old Mutual's Office of Internal Arbitration, PO Box 80, Mutualpark, 7405, call us on 021 509 1770 or email us
  4. As a last resort, if you are still not satisfied, you have the right to contact the Ombudsman for Long-term Insurance on Private X45, Claremont, 7735, or call on 021 674 0951.
  5. Should your query be about advice, please contact: Ombudsman for Financial Service Providers, PO Box 74571, Lynwood Ridge, 0040; call 012 470 9080/99 or 0860 3247 66 (sharecall); fax 012 348 3447.

Protection of your personal information and privacy policy

Please refer to Old Mutual’s privacy policy.

Thank You

Your application was submitted successfully. One of our consultants will call you to confirm your details.

You may also call us at: 0860 60 7000.

If your application is accepted, you should receive your Policy Contract within 60 days from the date of this application. Should you not have received it by then, please call our Communication Centre on 0860 60 7000 and we can arrange to send you a copy. Failure to notify us within 90 days from the date of this application of your intention to exercise this right to cancel, will mean that you will be deemed to have received the Policy Contract(s) within 60 days of this application. You will then have a further 30 days to withdraw from the contract subject to the same provision as below. Any cancellation thereafter, namely after the 90 days from the date of application, will then be treated as a normal cancellation.

When you receive your Policy Contracts and you are not satisfied with the Plan(s) you have chosen, you may withdraw from the contracts by returning your Policy Contracts to us within 30 days from the date you received your Policy Contract. Once we have received the returned Policy Contract, we will refund any premiums paid, provided that you haven’t claimed yet or an event insured against has not yet occurred. Please note that we may deduct the cost of benefits provided and any investment losses (where applicable) we may have incurred.

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