Naedo and Mandate terms and conditions:

In terms of this agreement, you may arrange with my bank to debit my account with all amounts due (or any other bank to which I might transfer my account). If the bank details change, I will let the Old Mutual/ Old Mutual Investment Service know in writing. I understand that Old Mutual recommends that I choose a deduction day as close as possible to my salary pay date, to avoid bank charges for non-payment. I, therefore, confirm that the premium will be deducted on the day that I have chosen above or on my salary payment date, where Old Mutual is able to get this information from my employer.

I am aware that my premium will be deducted from my account once it is due. If there are insufficient funds in my account on the premium due date, I agree that the premium may then be collected as soon as there is enough money available in my account. Should you not be able to collect a premium on the due date and subsequently during that month, I am aware that you will deduct a double premium in the next month. I know that my bank may charge additional fees for every attempt made to collect a premium, if there is not enough money on the due date. I understand that any premiums for an Old Mutual product will show on my bank statement.

I understand that my premium will increase every year by up to 20% if applicable.

I have read and accept the terms and conditions. (Acceptance via USSD/WhatsApp)