The purpose of the Short Term Insurance Ombudsman is to resolve disputes between members and insured consumers in an independent, impartial, cost-effective, efficient, informal and fair way. . More Details »
Its essential feature is that the savings components of premiums paid is distinguished from the part of the premium applied to meet management expenses and the cost of providing death cover. The savings are accumulated in a separate account in the name of the policyowner and interest is periodically credited to the account.