Terms and Conditions

Oracle Life Eswatini

Oracle Life Eswatini Ltd (Oracle) is an authorised financial services provider (Licence Number: LT/01/2007), licensed by the FSRA (Financial  Services Regulatory Authority) to underwrite, market, distribute and service long-term insurance products.

Oracle Life will provide relevant product information so that you can make an informed decision. As you go through the process we will highlight important information so that there are no surprises when it's time to claim, we do not offer advice.

Physical Address: Oracle Office Park, Somhlolo Road, Lot 219, Mbabane Eswatini

Postal Address: Box 142, Eveni, H103

Telephone: +268 2404 1369

Email: info@oraclelife.co

Website: www.oraclelife.co

Waiting Periods 

Waiting periods are relevant on all Funeral and 250/50 products. Please view the waiting periods for each product in the relevant product brochure.

No Waiting Periods

The following no waiting periods apply:

  • In the event of an accidental death of a policy member, provided the first premium has been paid. Accidental death for purposes of all Oracle Life Funeral Policy means death caused directly or resulting from injuries sustained due to a sudden and unforeseen event (an accident) which occurs at an identifiable place and time and has a visible, violent and external cause and which results in the death of a policy member. 
  • There will also be no waiting periods on renewal.
  • If the policyholder confirms that at least 31 days before entering, had a previous policy with another insurer, the waiting period will be limited to any unexpired waiting period under the previous policy.

Exclusions / When can I not claim? 

No benefit shall be granted and Oracle Life will not recognise any claim in the event of the death of any policy member as a result of, directly or indirectly-

  • Suicide within the first  24 (twenty – four) months of the benefit start date.
  • Death in a waiting period due to any cause other than an Accident.
  • If death is due to, or hastened by, own act (unintentional or intentionally self-inflicted injury or attempted suicide) in the first twenty four (24) months after:
    • Cover Start Date
    • Voluntary Cover Increase Date, but this will only apply to the increased portion of the cover,
    • Restart Date after an earlier lapse. 
  • Permanent exclusion, unless specifically agreed in writing that the risk will be covered for;
    • Participation in any hazardous sport or pursuit, including (but without limiting the generality of the foregoing) rock climbing, scuba diving, hang-gliding and speed contests of any kind or fighting (except in bona fide self-defence);
    • Participation in any form of aviation other than as a fare-paying passenger travelling between two main route registered airfields in a commercial aircraft flown by a duly licensed pilot; 
  • Participation in war, civil commotion, insurrection, riot, usurpation of power, terrorism or acts of terrorism not relating to maintaining law and order as part of your job.
  • Death occurring as a direct result of excessive use of alcoholic beverages, narcotics, drugs, harmful substances or any medication other than prescribed by a medical practitioner.
  • Participation in criminal activities. 

Processing and collection of certain personal information 

Oracle Life may collect and process certain personal information for communication and administrative purposes. Collection and processing of this information will help us render better service to you, and secure products tailored to meet your needs. Subject to the exceptions stated below, Oracle Life will obtain your express consent before collecting, processing, maintaining or disclosing your personal information for marketing purposes. Information that we collect may be stored and processed in, and transferred to, countries outside South Africa, but such countries shall have the same level of data protection as is applicable in South Africa. In the following circumstances, Oracle Life may collect, process or deal with your personal information without your consent: 

  • If Oracle Life is specifically requested, and required by law, to deliver certain personal information 
  • If the disclosure of personal information is necessary to protect Oracle Life’s interest 
  • If the disclosure of personal information is in the public interest (e.g. for the prevention of crimes) and there are legitimate grounds for such disclosure 
  • If de-identified personal information is required for statistical purposes 

We may share your personal information with our partners, who include: 

  • our contracted service providers whose assistance we require to conduct our business operations; 
  • credit bureaux for certain specified information, as allowed in terms of the law; and 
  • banking partners. 

Policy Document 

On purchase of your Cover,  an email and an SMS with a link to your policy document will be sent to you. A sample Oracle Life policy can be viewed here

Waiver and indemnity 

In the event that you suffer loss or damage of any nature due to Oracle Life acting on your orders or communications, or orders or communications that purportedly emanate from you, you waive any right to take action against Oracle Life. Furthermore, you indemnify Oracle Life against all and any claims, liabilities, losses, costs, fines, damages and expenses arising because Oracle Life acted on your instructions or orders or instructions or orders which purportedly emanate from you.

Complaints

If you are not satisfied with any aspects of your policy or services provided by Oracle Life, please allow us the opportunity to resolve the issue as quickly as possible. For us to give your concerns the attention they deserve and ensure a quick response please contact us on: complaints@oraclelife.co

Oracle Life Compliance

The Compliance Officer: 

Address: Oracle Office Park, Somhlolo Road, Lot 219, Mbabane Eswatini 

Telephone:  +268 2404 1369

Email: lifeinfo@oraclesz.com

The Compliance Officer deals with issues relating to Oracle Life’s compliance with the  Financial Services Regulatory Authority Act, 2010

Claims

To register a claim please refer to our claims page

Ombudsman and Information Regulator Details

If still not satisfied with how your complaint has been dealt with then you can contact the Financial Services Ombud where this has to do with any of the   services and/or the actual products provided by Oracle Life, and their respective features:

The Office of the Ombudsman of Financial Services

Postal: P.O. Box 8490, Mbabane, H100 

Physical: 3rd Floor, West Wing, lngcamu (PSPF) Building, Mhlambanyatsi Road, Mbabane, Eswatini

Telephone:  2404-7653 / 2404-4464

Email: info@ombudsfs.org.sz

The Regulator (Eswatini)

Financial Services Regulatory Authority 

Postal: P. O. Box 3365, Mbabane, H100, Eswatini 

Physical: 5th Floor Ingcamu Building, Mhlambanyatsi Road, Mbabane, Eswatini

Tel: +268-2406-8000

General enquiries email: info@fsra.co.sz   

Oracle Funeral Disclosures

  1. Oracle Life is authorised to underwrite and sell long term insurance and holds Professional Indemnity Cover.
  2.  The maximum cover allowed for any policyholder or policy member is E50,000 in aggregate, across all insurance policies underwritten by Oracle Life where the policyholder or policy member participate.
  3. Your Premium and policy terms and conditions will not change for the first 12 months.
  4.  You must be a permanent resident of eSwatini in order to qualify for our funeral policies. Any person buying our funeral policies will become the policyholder and the premium payer on the policy. 
  5. Claims will be paid within 2 business days after all claim documentation has been received, assessed and determined if the claim is valid.

Oracle 250/50 Life Cover Disclosures

  1. Oracle Life is authorised to underwrite and sell long term insurance and holds Professional Indemnity Cover.
  2. Your policy will commence on the 1st of the month following the date that your first premium is collected.
  3. Your Premium and policy terms and conditions will not change for the first 12 months.
  4. There is a 6 months’ waiting for our 250/50 Life Cover, save for cases of accidental death. A policy document will have the details.
  5. You must be a permanent resident of eSwatini in order to qualify for our funeral policies. Any person buying our funeral policies must become the policyholder and the premium payer on the policy.
  6. The accelerated portion of your death benefit (if selected in the policy) will be paid within 2 business days after all claim documentation has been received and assessed to determine if the claim is valid.
  7. The maximum benefit for this policy has been capped at E300,000.