iWYZE will reward you with 10% of your premiums paid*, as long as all your premiums are paid on time and you don’t make a claim during any of the no-claim reward periods illustrated below. You can decide whether to receive your reward as cash and / or as vouchers – and it’s yours to use for whatever you choose!
Here’s how it works
Reward Periods
Period 1
- Begins in the month of your first premium.
- Continues for 36 months provided that no interruptions** occur.
- Your No-Claim Reward will be paid within 60 days of the end of Period 1.
- Any interruptions would lead to the cancellation of your No-Claim Reward and Period 1 would re-start.
Period 2
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Provided that Period 1 ended without interruptions, Period 2 starts immediately after Period 1 has ended.
- Period 2 continues for 24 months provided that no interruptions occur.
- Your No-Claim Reward will paid within 60 days of the end of Period 2.
- Any interruptions would lead to the cancellation of the No-Claim Reward of Period 2 and would see you restarting with Period 1.
Period 3
-
Provided that Period 2 ended without interruptions, Period 3 starts immediately after Period 2 has ended.
- Period 3 continues for 12 months provided that no interruptions occur.
- Your No-Claim Reward will be paid within 60 days of the end of Period 3.
- Any interruptions would lead to the cancellation of the No-Claim Reward of Period 3 and would see you restarting with Period 1.
- Provided that Period 3 ended without interruptions, the 12-month cycle will repeat, with your No-Claim Rewards paid after the completion of every uninterrupted 12-month cycle.
- Any interruptions would lead to the cancellation of my No-Claim Reward and you would restart with Period 1.
Important Notes
* Your No-Claim Reward excludes that portion of your premiums collected for initiation fees, monthly policy administration fees and SASRIA.
**The following situations will be considered as interruptions during your reward period/s:
- Non-payment of premiums.
- Any claim you may register with iWYZE, except claims for:
- Repairs to your windscreen that do not require replacement of the glass.
- Benefits claimed under the Retrenchment Premium Waiver.
- Use of the iALERT emergency service, provided no associated claim for loss or damage is registered.
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iWYZE is underwritten by Mutual & Federal Insurance Company Limited, a member of the Old Mutual group. Mutual & Federal and Old Mutual are Licensed Financial Services Providers.