University Life Insurance Scheme

Terms and Conditions of Membership

Important Note: Data Protection Act

Any information you provide to SFS Group Ltd will only be used for the operation of your membership as it relates to you, your child or your child's school or university and for internal SFS Group Ltd marketing purposes. It will not be released to any third parties.

SFS Group Ltd follows a confidentiality policy, which means that your personal data will be processed fairly and securely in accordance with the Data Protection Act 1998.

Your personal data will be available only to those who need to see it for the purposes stated above. This may include our Insurers.

1. Definitions

   Admitted Parent means the natural father or mother or such other person regarded by the Trustee as a parent provided that:

   1. he/she is aged 60 or under when membership commences;
   2. he/she is a citizen of one of the member states of the European Union or a foreign national Ordinarily Resident within the European Union; and
   3. he/she has completed an Agreement and a direct debit mandate in respect of the payment of contributions and both have been received by SFTS Trustees Limited.

   Agreement means a membership application for membership of the University Life Insurance Scheme, duly signed by both the Trustee and the Admitted Parent.

   Beneficiary means, in relation to Benefits payable under the University Life Insurance Scheme, the named child in the Agreement.

   Benefit(s) means the amounts payable by the Insurer under the group policy issued to the Trustee (as described in the current University Life Insurance Scheme brochure at the date of the claim for benefit) as a result of the death, or diagnosis of a Terminal Illness, of an Admitted Parent.

   Due Date means in relation to the contribution for any month the first day of that month until the April of the academic year in which the child becomes twenty-three or completes his or her undergraduate studies.

   Gap Year means the twelve month period after the end of secondary school and prior to a child starting at university.

   Insurer means Unum Limited (trading as Unum) or any other insurer for the time being underwriting the Policy.

   Joint Membership means that both Admitted Parents have elected to join the scheme and have paid the appropriate contribution as stipulated in the current brochure.

   Member means an Admitted Parent who has completed an Agreement; who meets the requirements for joining the Scheme; and who has remitted the appropriate contribution to SFTS Trustees Ltd.

   Policy means the policy issued by the Insurer in the name of the Trustee providing for the tertiary education cover of a named child or any policy substituted therefor by agreement between the Insurer and the Trustee.

   Trust means the trust established by trust deed of which SFTS Trustees Ltd is the present Trustee.

   Trustee means SFTS Trustees Ltd and any other trustee or trustees of the Trust from time to time.

   Ordinarily Resident means a person who resides in, spends or intends to spend at least 183 days in the European Union during any continuous period of 365 days.

   Pre-existing conditions means:

   • that the Trustee will not pay any Benefit for death or Terminal Illness arising directly or indirectly from disease or disorder of the heart; a stroke; disease or disorder of the kidneys; if, during the sixty months before joining the University Life Insurance Scheme, the Member consulted a healthcare practitioner, underwent diagnostic investigations or received treatment for any disease or disorder of the heart or kidneys, stroke, diabetes mellitus, persistently raised blood pressure, persistently raised cholesterol, transient ischaemic attack, intracranial aneurysm or occlusive arterial disease; or
   • that the Trustee will not pay any Benefit for death or Terminal Illness arising directly or indirectly from disease or disorder of the liver, pancreas or lungs; cancer, growth or tumour; organic brain disease; neurological disease; if during the sixty months immediately before joining the University Life Insurance Scheme the Member consulted a healthcare practitioner, underwent diagnostic investigations or received treatment for that condition.

   Terminal Illness means a medical condition due to which, in the opinion of the medical specialist involved, but subject to the agreement of the Insurer's Chief Medical Officer, the advent of death is highly probable within 12 months.

2. Payment of Membership Contributions

   The Admitted Parent agrees to pay to the Trustee on or before the Due Date all membership contributions as shall from time to time be notified to the Admitted Parent by the Trustee.

   Membership contributions are reviewed, although not necessarily changed, annually.

3. Application of Benefits

   Following the death, or diagnosis of a Terminal Illness, of the Member, Benefits will paid to the Beneficiary at the rate prevailing in the current schedule of Benefits until the end of the academic year in which the child completes their undergraduate studies or reaches twenty-three years, whichever comes first.

   Benefits are reviewed, although not necessarily changed, annually.

   1. In any case of Joint Membership where both Members have died in circumstances rendering it uncertain which of them survived the other, the elder shall be deemed to have died first and Benefits will be paid only in respect of that Member who is deemed to have died first.
   2. The Member expressly agrees that the Trustee will hold the Benefits on trust and will apply them as specified under the terms of the Trust.
   3. All Benefits, of which more than one term has been paid, will be increased annually from 1 September by the amount of the jncrease in the Retail Price Index (or any equivalent index if the Retail Price Index is abolished) in May of the same calendar year, plus 2%.

4. Period of Membership

   The Admitted Parent shall be a Member from the start of the month after their first contribution and a completed Agreement have been received by SFTS Trustees Limited, until the first to happen of:

   1. the Member's death or the payment of any Benefit in respect of a Member where there are Joint Members
   2. b) any contribution due not having been received in full by SFTS Trustees Limited within four weeks of the Due Date.
   3. c) the Member, being a foreign national, ceasing to be Ordinarily Resident in the European Union. (The Member is required to notify SFTS Trustees Limited if, being a foreign national, he/she ceases to be Ordinarily Resident in the European Union).
   4. d) the end of the academic year in which a child reaches twenty-three.

5. Termination of Agreement

   SFTS Trustees Limited reserves the right to terminate this Agreement at any time on not less than three months' notice, if Clause 4b, 4c or 4d above occur.

   The Agreement can also be cancelled by the Admitted Parent at not less than one months' notice.

6. Notice

   Notice shall be deemed to be received if sent by recorded delivery post and properly addressed, or if confirmed by SFS Group Ltd in writing after a telephone call.

7. Child Transferring University

   It is possible to your Membership after the Child moves to another university but SFS Group Ltd should be notified of any such change.

8. Mis-statement

   Any material mis-statement by the Member on the face of this Agreement shall entitle the Trustee to repudiate any liability under this Agreement.

9. Cooling Off Period

   After SFTS Trustees accept your application and issue your membership documentation, we will send you a Cancellation Notice. If you wish to cancel your membership, you have 30 days to send this notice back and get a refund of any contributions you have paid.

10. Complaints

    Complaints in connection with the University Life Insurance Scheme should be referred initially to:

    SFS Group Ltd
    Crossways House
    54-60 South Street
    Dorking
    Surrey
    RH4 2HQ
    Telephone: 01306 746300

    If the matter is not resolved satisfactorily, the complaint should be referred to:

    Customer Relations Manager
    Unum
    Milton Court
    Dorking
    Surrey
    RH4 3LZ
    Telephone: 01306 887766

    If the Customer Relations Manager is unable to resolve the problem, the case can be referred to:

    Financial Ombudsman Service
    South Quay Plaza
    183 Marsh Wall
    London
    E14 9SR
    Telephone: 0845 600 6666

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