Question
2.6. Every person who takes out an insurance contract is entitled to a policy summary. In the absence of any evidence to the contrary, the summary will serve as prima facie proof of the contract between the insured and the insurer. The summary will serve as proof of the material aspects and related risks of the insurance contract. Within how many days must the summary be made available to the insured in terms of Rule 11.5 .1 ? A. As soon as possible, but more than 25 days from entering into or changing the contract. B. As soon as possible, but no more than 31 days from entering into or changing the contract. C. As soon as possible, but more than 35 days from entering into or changing the contract. D. As soon as possible, but no more than 51 days from entering into or changing the contract.
Ask by Stephens Mitchell. in South Africa
Mar 14,2025
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Answer
The policy summary must be provided within 31 days from when the contract was entered into or changed.
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B. As soon as possible, but no more than 31 days from entering into or changing the contract. This rule ensures that the insured has timely access to important information about their policy, promoting transparency and understanding in insurance agreements. Remember, a well-informed policyholder is a powerful one! Understanding the terms early on can save a lot of headaches in the future.
