Yalu / Meerkat transition of administration: Q&A         

1. Who are Meerkat?
   MyMeerkat FSP (Pty) Ltd (“Meerkat”) is a trusted Financial Services Provider (FSP50979) who has a long history working with Old Mutual Alternative Risk Transfer Limited (OMART) as a policy administrator and adviser. Your Credit Life Insurance policy will still be insured by OMART. OMART is a member of the Old Mutual Group, and will remain the insurer of your policy.
   
   
2. Who insures my Credit Life Insurance Plan?
   Your Yalu Credit Life Insurance Plan is insured by Old Mutual Alternative Risk Transfer Limited (OMART), part of the Old Mutual Group which has been around for an incredible 175 years and is one of the biggest Insurance groups in South Africa.
   
   
3. Will I keep all my benefits?
   Yes, all your benefits will remain the same for as long as you have your policy. The benefits to the Yalu Credit Life Insurance Plan, underwritten by Old Mutual Alternative Risk Transfer Limited, include but are not limited to:
   - premiums that reduce as your outstanding loan balance reduces
   - 10% premium back at the end of your loan if you do not claim.
    
4. Who do I need to contact if I need to make changes, have queries or need to claim on my policy?
   From 1^st March 2021 all policy administration will be carried out by MyMeerkat FSP (Pty) Ltd. Their contact details are as follows:
   Contact number: (021) 003 4534
   Email – insurance@meerkat.co.za
    
5. Will I receive new policy documents?
   Because the insurer on your policy does not change, the policy documents that you received when you took up the policy are still valid, and you will not receive any new documentation.
    
6. Will this policy administration transfer process to Meerkat mean that I need a new debit order instruction?
   No, your debit order will run as usual, on the debit order day you chose for your Yalu Credit Life Insurance Plan.
    
7. Will Meerkat have all my information and policy history?
   As part of this process Yalu Financial Services (Pty)Ltd will be transferring all your information and policy transactions to MyMeerkat FSP (Pty) Ltd so that they can provide you with the best possible servicing experience.
    
8. Will I still be able to add more loans onto my existing policy?
   Meerkat service agents will assist you with adding additional loans onto your policy to enjoy the benefits of a single Credit Life Insurance Policy. Just send an email to insurance@meerkat.co.za.
   
   
9. What happens to my 10% premiums back once I have paid off my debt?
   You will still receive your 10% premiums back once you have settled your debt on condition you never claimed on the policy.
   
   
10. Will Meerkat help me with getting my current provider(s) to cancel existing credit life insurance policy(ies)?
    The Meerkat servicing team will still actively follow up with your current providers to get them to cancel your existing policies so you can enjoy the benefits of this Credit Life Insurance Plan.
    
    
    

    MyMeerkat FSP (Pty) Ltd is an authorised Financial Services Provider, FSP 50979. Underwritten by Old Mutual Alternative Risk Transfer Limited (OMART),  a licensed life insurer as per the Insurance Act .