Personal accident benefits

All employees are covered for a personal accident benefit should they die or be disabled as a result of an accident.

Benefit payable in the event of an accident 

The benefits paid in the event of an accident are as follows: 

Reason for Claim Benefit
Death  6 x annual total guaranteed remuneration 
Permanent Total Disability  A specified percentage of the above death benefit depending on the type of disability
Temporary Total Disability 100% of average weekly earnings for a period of up to 104 weeks 

What is the definition of disability? 

There are two definitions:

Permanent total disability - You will be regarded as permanently totally disabled if, in the opinion of the Insurer, you cannot follow your usual occupation, and will remain disabled for the rest of your lifetime. 

Temporary total disability – You will be regarded as temporarily totally disabled if, in the opinion of the Insurer, you cannot follow your usual occupation for a period not exceeding 104 weeks. 

Am I only covered if the accident takes place at work? 

You are covered for death and disability benefits arising from an accident anywhere in the world and at any time of day.

What percentage of the death benefit is paid if I am permanently disabled? 

There is a comprehensive table of benefits, but some examples are: 

  • Loss of a limb – 100% of the death benefit
  • Loss of an eye – 100% of the death benefit
  • Loss of four fingers – 70% of the death benefit
  • Loss of a thumb – 25% of the death benefit

Who pays the premium for this benefit? 

PetroSA will pay the premium. The cost of this benefit is approximately 0.28% of pensionable salary. To the extent that the cost of this benefit increases or reduces this will be reflected in your package.  

Does PetroSA have discretion as to whom the death benefit is payable? 

PetroSA has the discretion to pay the death benefit to your spouse, children, other next of kin, dependants or to your Estate. 

Exclusions 

There are certain instances where the Insurer will not pay any benefits. These include death due to suicide or intentional self-injury, or where death or injury results from flying other than as a paying passenger, playing sport professionally, war and riot, nuclear weapons, misuse of alcohol, HIV/AIDS, pregnancy or childbirth.