I joined the Sanlam Umbrella Fund. I was found disabled to do my work or a job similiar to what I have been trained to do. The underwriter, Capital Alliance declined my claim due to "pre-excisting condition" although I stated to the Sanlam representative that I had an illness. I was told that it does not matter and that the Umbrella fund covers all employees. I appealed and it was declined again.
I cannot withdraw any benefits accumulated. My premuims for disability etc. is deducted seperately from my monthly contributions.
I submitted a complaint with the PFA and are awaiting acknowledgement of my complaint. Meanwhile I am suffering financially and will loose my assets soon.
I would urge employees that when they join this fund or any other Provident Fund that the "Participating Employee" as well as the Sanlam representative/agent explain the rules of the fund prior to signing any documentation.
My conclusion is that they do not give a damm about you as a member. Rules that is unknown to you may cause your downfall. It is a pity, I will not recommend any person to join such a scheme unless the rules of the Fund and those of the underwriter have been conveyed to you.
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