Objectives

The primary objective of this tender is to procure a comprehensive Group Life Insurance Scheme for the period from 01 July 2026 to 31 August 2026. The scheme aims to provide life and disability cover for municipal employees, including voluntary spouse cover, with options for conversion and retirement benefits, ensuring adequate protection and benefits for staff members.

Scope

The scope of the tender includes:

• Provision of group life insurance coverage for employees of Theewaterskloof Municipality for the specified period.
• Administration of the insurance scheme, including underwriting, claims processing, and related services.
• Pricing based on fixed unit rates per R1000 cover, with specific cover levels for death, disability, and voluntary spouse cover.
• Optional conversion and retirement benefit options to be quoted separately.
• Adherence to specified technical and contractual requirements as detailed in the tender documentation.

Technical Requirements

The technical specifications for the insurance scheme include:

• Experience in administering group life schemes, with relevant qualifications of key staff.
• Pricing at a fixed unit rate per R1000 cover, considering 2x or 2.5x annual salary for death and disability benefits.
• Voluntary spouse’s cover (death only) at 1x or 2x annual salary, as elected by members.
• Normal retirement age set at 65 years for all members.
• Disability benefits payable in 60 monthly installments, with no waiting periods.
• Pricing schedules with estimated total cover value of approximately R26.5 million.
• Compliance with all specified service and administrative standards, including claims handling and scheme management.

Skills Requirements

The bidder must demonstrate:

• Proven experience in administering group life insurance schemes.
• Qualified key personnel, particularly a team leader with relevant expertise.
• Ability to provide competitive fixed unit rates per R1000 cover.
• Capability to manage voluntary cover options and conversion benefits effectively.
• Understanding of the technical and legal aspects of group insurance schemes.
• Capacity to meet administrative, claims processing, and customer service standards as specified in the tender.