OLD MUTUAL REWARDS NAMIBIA PROGRAMME TERMS AND CONDITIONS

These terms and conditions apply to your use of Old Mutual Rewards.  Please read these terms and conditions carefully.

All the provisions in these terms and conditions for Old Mutual Rewards are important, but please pay special attention to the parts that are inside a box with bold writing. These parts highlight and clarify terms and conditions that have special consequences for you as they may (i) limit our risk or liability; (ii) create risk or liability for you; (iii) require you to indemnify us; or (iv) require you to acknowledge certain facts. These parts are only intended to bring such terms and conditions to your attention, and to explain their fact, nature and effect.  They are aids to understanding only and are not terms and conditions themselves. They do not limit the meaning or application of the terms and conditions, and do not apply only to the situations and examples described in the boxes or only to similar situations or examples.

DEFINITIONS

In these terms and conditions, the following terms have the following meanings:

1. INTRODUCTION

The rewards programme known as Old Mutual Rewards is owned and managed by Old Mutual.

Membership enables you to earn points, which can be exchanged for vouchers and/or spent at any of our reward partners in accordance with these terms and conditions.

Old Mutual Rewards is available for free to customers of all Namibian the companies in the Old Mutual Group as well as members of the public who do not have any Old Mutual products.

2. AGREEMENT TO THESE TERMS AND CONDITIONS

These terms and conditions are the rules that apply to your use of Old Mutual Rewards.  They explain, amongst other things, what you will get out of the programme, what you need to do to earn points and how you are able to spend them.  At the same time, it sets out Old Mutual's duties and responsibilities to you. Please note that Old Mutual’s Privacy Policy, accessible on the Old Mutual website, is hereby incorporated by reference into these terms and conditions and form part of these terms and conditions.

By agreeing to these terms and conditions, you also agree to be bound by the provisions of the Privacy Policy. You must agree to and accept these terms and conditions to be able to use and benefit from Old Mutual Rewards and to earn and use points. You agree to these terms by registering an account with us on the Old Mutual Rewards website in accordance with paragraph 3 below. If you do not agree to these terms and conditions, you will not be permitted to register to hold an account with us.  

These terms and conditions may be updated and amended by us at any time in our sole discretion. All changes to these terms and conditions will take effect from the time that we place them on the Old Mutual Rewards website. We will tell you about material changes by putting a notice about it on the Website, or by including a notice on your monthly account statement.

We also encourage you to review and check the terms and conditions (including any changes to the terms and conditions which we may make) whenever you wish to use Old Mutual Rewards or any related service. 

3. HOW TO BECOME A MEMBER

You have to register to become a member of Old Mutual Rewards as set out below by opening an account and agreeing to and accepting these terms and conditions by means of the Old Mutual Rewards website.  You can only earn and use your points after that.

You can register by completing an electronic registration form which is available on the Old Mutual Rewards website.

As part of the registration process, you will be required to create an account.  You will do this by completing the abovementioned electronic registration form which will include:

• creating a username and password;
• providing us with all the information we require, including but not limited to a valid email address and contact number; and
• agreeing to these terms and conditions and the Privacy Policy.

Once you have provided us with your registration details, we will confirm your registration by sending you a confirmatory email with a username.

All information you give us must be truthful, accurate and complete. This also includes the information that we request you to provide in the registration process and at any time after that. Your registration can be rejected if you fail to properly complete the electronic registration process.

Membership is free, and you don’t need to have any Old Mutual products to become a member.

You must be at least 18 years old to become a member of Old Mutual Rewards.

4. YOUR ACCOUNT

After you complete the registration process described in paragraph 3 above, we will create your account. 

As a member of Old Mutual Rewards you will have an account where your points will be collected and recorded for you.  Each member can have only one account.

You will need to use your username and password to access your account and to use Old Mutual Rewards. You will also be given a personal Old Mutual Rewards membership number which may also need to be used.   

You must keep your username and password details secret. To the maximum extent permitted by law, you will be responsible for use of your account and your password whenever a person performs any act with your password or through your account and:

• you agree that we may treat this as if it was done by you and with your approval, and
• you hereby indemnify us and the Old Mutual Group against any loss which you or any person may suffer from any such act or use.

You must take all reasonable and appropriate measures not to share, display in public, or make your password details available to any person who is not authorised to access your account.

You must notify us immediately by sending us an email at [email protected] if you suspect that another person has obtained unauthorised access to your account, or password, or if you are aware of any unauthorised use of your account or password. You will be responsible for changing your privacy settings on your account as soon as you become aware of any unauthorised access or use.

You accept that we cannot protect you if you do not keep your password secret or if someone obtains unauthorised access to your account. 

5. EARNING POINTS

5.1 GENERAL AND MANAGING DETAILS

As a member of Old Mutual Rewards, you will be able to earn points, instant rewards, and/or qualify for discount offers in accordance with and as set out in these terms and conditions.

You earn points for completing earn activities.   You can spend these points when they are reflected in your account.

You can keep track of your points balance and account activity by logging into your account and clicking on ‘Earn and Spend’.

You must notify us in writing if any information you provided to us, including personal details, has changed or is incorrect or incomplete.

You will be able to edit your own details when you log into your account on the Old Mutual Rewards website.  You can also update your details by contacting our support agents as set out in paragraph 9.  We will send you an email confirming any updates or changes that you make to your details.

 It is your responsibility to update us if the details we have for you change or if they are incorrect or incomplete.  If you do not update us, we will continue to use and rely on the most recent details that you have provided to us.

We will send you a monthly account statement showing all your transactions for the month, including your points balance, points redemption.

If you have a dispute relating to the monthly account statement, you must advise us in writing, or by contacting the Contact Centre, within thirty (30) days of the statement date. Unless you let us know in writing or via Contact Centre that there is an error on the monthly account statement, each statement we send you will be binding and final

You agree that we will be entitled to regard the monthly account statements as having been received by you when the statements have left an information system designated or used by us and sent to an email address that you provided.

You acknowledge that we have no control over the receipt of the statements and agree that we will not be liable for any loss or damage caused to you as a result of non-receipt of the statements or any access to the content of the statements sent to the email address that you provided;

It is important to note that it may take up to ninety (90) days for points earned on the earn activity date to reflect in your account, and before you can spend those points. Please take this into account when reviewing your points balance.

The amount of points allocated to any specific earn activity will be as specified in the POINTS EARNING TABLE from time to time, and may change at any time as contemplated in paragraph 5.2. This will not however affect existing points which you have already accumulated. 

Some earn activities may carry specific terms and limitations, as specified on the Old Mutual Rewards website from time to time. Please visit the Old Mutual Rewards website regularly to identify the earn activities and the points allocations. The exact number of points you may earn from each will be as specified on the Old Mutual Rewards website from time to time.

We reserve the right to adjust benefits and the points allocated to any specific earn activity if applicable legislation impacts on the benefits Old Mutual Rewards offers and requires such adjustment.

Points earned cannot be exchanged for cash.

Your earned points will remain valid for a period of three (3) years from the earn activity date on which you earned such points. This means that if you do not use your points by the third anniversary of the relevant earn activity date, they will expire and you will not be able to use them anymore.

Points are not transferable to another person for any reason, including divorce or inheritance.

We will make every reasonable effort to maintain and monitor your account, points balance, transactions and to ensure that information or content that we publish on the Old Mutual Rewards website is accurate and complete. However, to the maximum extent permitted by law and subject to the rest of these terms:

(a) you agree that we will not be liable or responsible for, and

(b) you hereby release us and each member of the Old Mutual Group and our respective agents, officers, subsidiaries, holding companies, affiliates, successors, assigns, directors, service providers, suppliers, employees or representatives from, and hereby indemnify each of us against, all claims in respect of;

any loss, liability or damage of whatsoever nature arising from or suffered in connection with the Old Mutual Rewards programme, by you or any other person, or that is caused by any failure to award you points in accordance with these terms and conditions, for whatever reason, including as a result of a mistake, error, omission, interruption, deletion of files or email, defect, viruses, delay in operation or transmission, whether resulting or not from any force majeure or from theft, destruction or unauthorised access to our records, programmes or services.

5.2 ENGAGEMENT-RELATED EARN ACTIVITIES

Below we describe the circumstances under which you are able to earn points through your engagement with the Old Mutual Group. The exact number of points you may earn from each will be as specified on the Old Mutual Rewards website from time to time. Visit the Old Mutual Rewards website regularly to identify the activities and points allocations.

POINTS EARNING TABLE FOR ENGAGEMENT EARN ACTIVITIES (see details per activity below table)

Join Old Mutual Rewards

From time to time, during special promotions, you may earn points when you register for Old Mutual Rewards, depending on the terms and conditions applicable at the time and as stated on the Old Mutual Rewards website. You can only earn points for joining once, unless stated otherwise. You can only have one account and your account has to be active and in good standing for you to be able to earn points.

Update your personal details

You will earn points for providing or confirming selected additional details on your account on the Old Mutual Rewards website. These points can only be earned once a year, unless stated otherwise. You are encouraged to keep your personal details up to date at all times in accordance with paragraph 5.1 above.

Invite your family and friends to join Old Mutual Rewards

You will earn points for inviting your friends or family members to join Old Mutual Rewards. Your friends or family members will need to register for the programme using a unique a code. It is your responsibility to ensure that your friend or family member enters your unique code correctly. If not, you will not earn any points. Points will be credited to your account once the friend or family member registers fully for the first time and only if and when the following two criteria are met:

1. The friend or family member you invite must already own any of the qualifying Old Mutual products listed in section 6. It may take up to six months for us to verify that the person you invited owns a qualifying product.
2. The friend or family member you invited must have earned at least one Old Mutual Rewards point.

There is no limit to the number of friends and family you can invite, but there may be limits on the points you earn for the invitations. You will not receive points if the person you invited is already a member of Old Mutual Rewards, or if the invitation is rejected, not confirmed or is not received for any reason.

You can only earn points once for each person you invite and you can only earn points for referring friends and family to the Old Mutual Rewards programme to which you belong to. You cannot earn points for referring friends and family to other country’s Old Mutual Rewards programmes.

Where you pass the name and contact details of your friend or family member to Old Mutual Rewards, you confirm that you have their permission to do so and they are aware that Old Mutual Rewards will be processing their personal information. You also consent to us using your name and contact details to verify you as the person who invited friend or family member and in any communications we may have with your friend or family member.

Participate in selected surveys

You will earn points for completing selected surveys run by Old Mutual. There may be a delay of up to 90 days from when you complete the survey until you receive and are able to use the points. As set out in the Privacy Policy, your responses to surveys may be used in our academic and/or market research and analytics unit to refine our propositions to customers. The data collected from the surveys will not be identifiable, thus ensuring anonymity of your responses and the responses published for academic and/or market research purposes will be aggregated and anonymised.

Promotional earn opportunities

You will earn one-time bonus points, instant rewards or discounts for certain activities that will depend on the specific promotion.

The amount, conditions and requirements for earning those points will be specified clearly on the Old Mutual Rewards website or the relevant promotional material.

You may, on certain occasions, also be issued with automatic entries to competitions, for example when you participate in online surveys as may be specified on the Old Mutual Rewards website from time to time. To read more about promotions and competitions click here.

5.3 FINANCIAL WELLNESS EARN ACTIVITIES

You will earn points for a variety of qualifying financial wellness activities as part of Old Mutual Rewards’s objective to promote good financial behaviour and education. Not all financial education or financial wellness activities offered by Old Mutual will be rewarded.

Below we describe the circumstances under which you are able to earn points. The exact number of points you may earn from each will be as specified on the Old Mutual Rewards website from time to time. Some earn activities may carry specific terms and limitations, as specified on the Old Mutual Rewards website from time to time. Please see the latest list of eligible financial wellness earn activities here or visit the Old Mutual Rewards website regularly to identify the activities and points allocations. The exact number of points you may earn from each will be as specified on the Old Mutual Rewards website and the total number of points you can earn from financial wellness activities may also be subject to an annual limit as may be specified on the Old Mutual Rewards website from time to time.

Financial advice

You may earn points for requesting financial advice from the Old Mutual Group on the Old Mutual Rewards website or engaging with your financial adviser.

Financial wellness assessments and calculators 

You may earn points when completing selected financial wellness assessments, using financial calculators and/or requesting a credit report on the Old Mutual Rewards website. 

You may earn points when completing selected financial wellness assessments and, using financial calculators on the Old Mutual Rewards website.

5.4 OLD MUTUAL GROUP PRODUCT EARN ACTIVITIES

*Only products issued by product providers in Namibia qualifies.

You may earn points if you have qualifying Old Mutual products. The exact number of points you may earn from each will be as specified on the Old Mutual Rewards website.

It is important to note that it may take up to ninety (90) days between the date on which you purchased a new Old Mutual product or made changes to an existing product and the earn activity date for the points earned to reflect in your account.

All your qualifying Old Mutual products need to be in good standing, i.e. all premiums are paid on time and in an active status (therefore not overdrawn, lapsed or have missing or missed/arrear premiums) to earn points in respect of any qualifying Old Mutual products.

You can speak to your financial adviser for any further information regarding products and investments. All insurance and investment products have their own terms and conditions.

6. OLD MUTUAL REWARDS TIERS

The Old Mutual Rewards programme has five (5) tier statuses. As a member of Old Mutual Rewards, your tier status will depend on how many product categories you have covered with selected Old Mutual products.

Regardless of the number of products that you own you will qualify for Tier 4 membership if your investments at Old Mutual are worth N$25 million or more and Tier 5 if your investments are worth N$50 million or more.

Your tier status will be re-assessed monthly.

There may be delays of up to ninety (90) days between the date a new product was taken up or an existing product amended, and the date the tier status is amended.

The product categories, as defined by the Old Mutual Rewards programme, are set out below. To have a product category covered with Old Mutual, you need to be the contracting party for a qualifying product in that product category. The product also needs to be in good standing and certain minimum qualifying requirements may apply (see table below).

In total, there are nine available product categories, namely:

1. Lending
2. Funeral
3. Life cover
4. Disability cover
5. Severe or critical illness cover
6. Savings and investments
7. Retirement savings
8. Income
9. Short-term insurance

The table below provides an overview of each of the qualifying Old Mutual product categories.

 *The table above will be updated from time to time.

POINTS EARNED AS A PERCENTAGE (%) OF PREMIUMS

These points are earned as a percentage (%) of any premiums, instalments or contributions made by the member towards qualifying Old Mutual Products. The percentage is influenced by the following factors:

• The number of product categories you have covered with Old Mutual (see the section 5 under tiers for more information).
• The type of products to which such premium, contribution or instalment were paid.
• The size of such premium and/or contribution and/or instalment that were paid.

The table below describes the POINTS EARNED AS A % OF PREMIUMS

Example 1: In a particular month, a member has the following Old Mutual Products:

• The member contributes towards a funeral plan with a monthly premium of N$100.
• The member also has life cover (not through Old Mutual Wealth or Unit Trusts) with a monthly premium of N$1 000.
• The member therefore has two product categories covered.

In this month, the member will earn:

• Plus 15% * N$100 = 15 points for the funeral plan
• Plus 10% * N$1 000 = 100 points for the life cover
• Total monthly points = 15 + 100 = 115 points.

To understand which product premiums are covered under each of these two types of qualifying products, please refer back to the Product Category Table in section 6 and note the following:

• Type 1: Premium for Savings and Investments, Retirement Savings and Income Annuities includes the premium and contributions from the products in the following categories:
  • Savings and Investments (e.g. Group Schemes savings policies or Max Investments Savings policies but excluding any Old Mutual Wealth and Unit Trust products)
  • Retirement Savings (e.g. MAX Investments Retirement Annuity but excluding Old Mutual Wealth or Unit Trust Retirement Savings products).
• Type 2: Premium for Life insurance includes the premium from the products in the following categories:
  • Life Cover (e.g. Group Schemes Life Plan, Greenlight Death Cover, or OMP Death Cover)
  • Disability Cover (e.g. Greenlight Disability Cover, or OMP Disability Cover)
  • Severe Illness or Critical Illness Cover (e.g. Greenlight Severe Illness, or OMP Severe Illness Cover)
• Type 3: Premium for Short-term insurance includes the premium on the following Old Mutual Insure products: Points on annual premium products will be awarded monthly in arrears, using the annual premium paid divided by 12 (excluding VAT).
  • allsure
• Type 4: Premium for Funeral (e.g. Group Schemes funeral plan, Greenlight Final Expenses, Old Mutual Protect Funeral Cover, etc.)
• Type 5: Premium for Lending (Old Mutual Personal Loans) includes the instalments from the products in the following categories:
  • Old Mutual Finance Personal loans
• Type 6 : Premium for Fitness Points includes the premium on the following Old Mutual Personal Cover products only:
  • Old Mutual Protect Life Cover 
  • Old Mutual Protect Life Income Cover
  • Old Mutual Protect Disability Cover
  • Old Mutual Protect Functional Impairment Cover
  • Old Mutual Protect Physical Impairment Cover
  • Old Mutual Protect Severe Illness Cover
  • Old Mutual Protect Disability Income Cover 
  • Old Mutual Protect Functional Impairment Income Cover

FITNESS BONUS POINTS

Old Mutual Rewards members with qualifying Old Mutual Personal Cover products can earn bonus points for staying physically fit.

WHAT YOU NEED TO DO

1. Be the policyholder and the life insured on a qualifying Old Mutual Personal Cover product.
2. Complete the Old Mutual Rewards health questionnaire.
3. Complete either:
   • a qualifying endurance event every 6 months and submit the Old Mutual Rewards endurance event form OR
   • an annual fitness assessment and meet the fitness criteria.

Fitness assessment qualifying criteria:

You will need to book a fitness assessment with a Biokineticist on our network, which you will need to pay for. The Biokineticist will provide you with a copy of the results and also send the results directly to Old Mutual.

The fitness assessment consists of following measures and tests:

 * the normal/average ranges depend on your age and gender

Endurance event qualifying criteria:

You must have completed (within the cut-off times) at least one of the events in the categories listed below in the last 6 months, to qualify for earning bonus points:

• Road running at least 21km
• Trail running at least 12km
• Road cycling at least 94km
• Mountain biking at least 55km
• Swimming at least 1.6km
• Duathlon or triathlon with a run of at least 10km

Events will only be recognised by Old Mutual Rewards if the results can be verified on an official race website and the event had more than 30 participants. Old Mutual Rewards may recognise virtual events at its sole discretion.

Old Mutual Rewards may:

• Ask you to submit proof of successful completion.
• Not recognise any event (virtual or otherwise) if the results are not officially recorded and accessible by Old Mutual Rewards, or if Old Mutual Rewards is not satisfied with the official nature of any specified event.

Other Important Information relating to the Fitness Bonus Points

• You must be the policyholder and the life insured on a qualifying Old Mutual Personal Cover product.
• You must also submit the Old Mutual Rewards health questionnaire once every 12 months in order to qualify for earning fitness bonus points.
• Bonus points are awarded monthly in arrears (in the subsequent month).
• The Old Mutual Rewards Endurance Event form or fitness assessment results must be submitted before the end of the month that you want to start earning points.
• Endurance Events
  • The endurance event form can be submitted once per calendar month only. You can contact the Old Mutual Rewards Contact Centre to request corrections if the form was incorrectly completed.
  • You do not need to complete the endurance event form every month, as the results remain valid for a period of 6 months after the date of the endurance event. However, the form must be completed again by the end of the month following the expiry of the 6 months with the details of any new endurance event that was subsequently completed, in order to continue receiving points.
    • Example: If you submit the endurance event form on 10 March and provide the details of an event that you completed on 5 January, you must submit the form again before the end of July to continue earning points.
  • You will qualify to receive points for 6 months after the date of your event. However, you will only receive points from the month after the date that you completed your endurance event form. It is therefore important that you complete the form in the same month that you completed the event, to maximise the points that you can earn.
    • Example: If you complete an event on 10 January, you will be eligible to receive bonus points from February to July. However, if you wait until March to complete the form, you will only receive bonus points from April to July.
  • Fitness Assessments
    • The fitness assessment results remain valid for a period of 12 months after the date of the fitness assessment. Thereafter you will need to complete another annual fitness assessment and meet the fitness criteria at that stage to continue earning fitness bonus points.

  HEALTH BONUS POINTS

  Old Mutual Rewards members with qualifying Old Mutual Personal Cover products can earn bonus points based on the results of their initial underwriting health assessment (as part of the underwriting process when applying for Old Mutual Person Cover).

  WHAT YOU NEED TO DO

  1. Be the policyholder and life insured on a qualifying Old Mutual Personal Cover product where:
     • the cover amount is greater than or equal to N$3million;
     • meet the underwriting health assessment criteria; and
     • you are not in receipt of a healthy lives premium discount on your policy.
  2. Complete an annual Old Mutual Rewards health questionnaire.
  3. Complete an annual health assessment thereafter and meet the qualifying health criteria to continue to earn health bonus points every year.

  Other Important Information relating to the Health Bonus Points

  • Your latest new business Old Mutual Protect underwriting assessment results will be used to determine whether you qualify for the health bonus points.
  • You must do an annual health assessment and meet the qualifying health criteria at that stage to continue to qualify earning health bonus points. It must be submitted before the end of the month that your underwriting assessment or annual health assessment expires to continue earning health bonus points.
  • You must also submit the Old Mutual Rewards Health Questionnaire once every 12 months to continue to qualify for earning health bonus points. It must be submitted before the end of the month that you do an annual assessment to continue earning health bonus points.
  • The current health assessment criteria to determine whether you qualify initially and annually for the health bonus points are as follows:

  Criteria	Results Required	Required for Initial Underwriting	Required for Annual Assessment
  Underwriting Health and Lifestyle Questionnaire (HLQ)	No adverse disclosure on the HLQ	Y	N/A
  Rewards Health Questionnaire	Completion	N	Y
  Smoking (Cotinine test)	Negative	Y	N/A
  Non-smoker declaration	Non-smoker	Y	Y
  Body Mass Index (BMI)	19-27	Y	Y
  Blood Pressure: Diastolic blood pressure (top reading)/Systolic blood pressure (bottom reading)	From 90/60 to 130/80 mmHg or lower (<=50 years old)  From 90/60 to 135/85 mmHg or lower (>50 years old)	Y	Y
  Cholesterol	From >=3 to <6 mmol/l (<=60 years old)  From >=3 to <6.5 mmol/l (>60 years old)	Y	Y
  Glucose (if required)	>=3.89 and <=7.80 mmol/L (random blood sugar) or less than 6% (for HbA1c test)	Y	Y
  Medical loadings or exclusions	No medical loadings or exclusions	Y	N/A

   

  POINTS EARNED AS A PERCENTAGE (%) OF INVESTMENT VALUE

  These points are earned as a percentage (%) of a members investment value of their qualifying Old Mutual Products. The percentage is influenced by the following factors:

  • The number of product categories you have covered with Old Mutual (see  section 6 under tiers for more information). and
  • The size of the monthly investment value.

  The table below describes the ANNUAL POINTS EARNED AS A % OF INVESTMENT VALUE on Old Mutual Wealth and Old Mutual Unit Trusts

  	Tier 1	Tier 2	Tier 3	Tier 4	Tier 5
  Number of product categories you have covered with Old Mutual	1	2 or 3	4	5	6 or more
  Annual Points earned as a % of market value of investments. Points are calculated and awarded monthly.
  Old Mutual funds	0.050%	0.150%	0.250%	0.350%	0.500%
  Other funds	0.025%	0.075	0.125%	0.175%	0.250%

   

  Old Mutual funds refer to funds selected within an Old Mutual solution where the Investment Management Company of the fund is Old Mutual.

  
  Other funds refer to funds selected within an Old Mutual solution where the Investment Management Company of the fund is not Old Mutual.

  
  Example 1: In a particular month, a Tier 3 member with an investment value of N$1 000 000 in an Old Mutual Wealth solution with N$750 000 invested in Old Mutual funds and N$250 000 invested in other funds will earn the following points:

  Type of Investment Portfolio	Market Vaule	Rewards Annual Earn Rate	Rewards Monthly Earn Rate (i.e Annual Rate/12)	Rewards Points Earned (i.e Monthly Earn Rate * Investment Value)
  Old Mutual Funds	750,000	0.250%	0.0208%	156
  Other Funds	250,000	0.125%	0.0104%	26
  Total	1,000,000			128

  
   

  The following Old Mutual Wealth and Unit Trust will qualify for Investment Value points:

  Product category	Qualifying Old Mutual products
  Savings & investments	1. Old Mutual Wealth Investments: 2. Old Mutual Unit Trust Standard
  Retirement savings	1.  Old Mutual Wealth Linked Retirement Income 2. Old Mutual Unit Trust Retirement Annuity
  Income	1. Old Mutual Unit Trust Living Annuities

   

  Please note that Max Investments, Old Mutual Group Schemes, Legacy, , Investment Frontiers, Future Invest and any other Old Mutual solutions not mentioned in the table above will not qualify for Investment Value points.

  LIMITS ON SIZE OF PREMIUMS AND INVESTMENTS VALUE

  Points may be earned on premiums and investments up to a certain maximum amount as follows:

  • Any single premium and/or lump sum investments on Savings, Investment and Retirement Annuity business will be capped at N$1 000 000 for points-earning purposes. In addition, the single premium on MAX Income annuities will be capped at N$5 000 000 for points-earning purposes.
  • Any Old Mutual Home Loans instalments will be capped at N$100 000 for points-earning purposes.
  • Any regular premiums will be capped at N$20 000 for points-earning purposes.
  • Any Old Mutual Wealth and Old Mutual Unit Trust investment value will be capped monthly at N$15 000 000 for earning points on Investment Value.

  SPECIAL RULES THAT APPLY TO THE NAMIBIAN REWARDS PROGRAMME

  To prevent possible confusion or misunderstanding between the Rewards Programmes of South Africa and Namibia (and other African countries), you must please consider the following special rules that apply to you as Member of the Namibian Rewards Programme:

  • Points are not transferable between the Namibian and any other programmes
  • Points earned as a Member of the Namibian programme (and/or Vouchers) can only be redeemed within the country of Namibia with Namibian Rewards Partners
  • As a Member of the Namibian Rewards Programme, you will only be able to earn points in respect of financial products issued by Namibian product providers in the Old Mutual Group.
  • Where Members are owners of financial products issued by Old Mutual product providers in South Africa (or other African countries) they will be able to become Members of the Rewards programmes within those countries, to be able to earn points with those Rewards Programmes.
     

  Amendment of your existing long-term and/or short-term insurance policies and/or incorporation of certain terms in future policies: Rewards earned through an allocation of a portion of your premiums by the relevant Old Mutual insurer towards Old Mutual Rewards. By being a member of Old Mutual Rewards and taking part in the activities of the programme, you enable Old Mutual Life Assurance Company (Namibia) Limited or Old Mutual Short-term Insurance Company (Namibia) Limited (referred to in this section as “Old Mutual”) to re-assess the costs and risks associated with any policy you have with Old Mutual. Any saving realised as a result of such re-assessment of the costs and risks associated with the policies pursuant to taking part in the activities of Old Mutual Rewards, is made available to you in the form of points as follows: Old Mutual will, on an ongoing basis, re-assess the premiums that you paid in terms of qualifying Old Mutual policies* by taking into account certain cost and risk reduction factors brought about by your participation in the programme. Old Mutual will then transfer the value of the portion of the premiums which relates to the cost saving or risk reduction, as determined in the sole discretion of Old Mutual, towards the programme which will entitle you to points that you can use as part of Old Mutual Rewards. You will at no stage be entitled to a repayment of the value of the reallocated portion of the premium and will continue paying the same premium or premiums as agreed with Old Mutual when you took out the policy/ies (with increases where applicable). In the case of savings and investment policies the reallocation will in no way affect or reduce the portion of the premium that is allocated to the investment value of your policy. The reallocation of the value of the portion of the premium towards Old Mutual Rewards will be done in the sole discretion of Old Mutual and can be stopped by Old Mutual at any stage. The value of the reallocated premiums, and thereby the amount of points that you can earn as a direct result of taking part of Old Mutual Rewards is set out in the Old Mutual Rewards points table (as updated from time to time). By agreeing to this section, you agree that this constitutes an amendment to your policy or policies and that Old Mutual may reallocate the value of a portion of your premium towards Old Mutual Rewards. Furthermore, this section will form part of the terms and conditions of policies taken out by you after joining Old Mutual Rewards, by way of incorporation (inclusion) therein. The endorsement will apply to your policy or policies regardless of whether the policy/ies prescribes any specific way in which endorsements must be made. The rest of the terms and conditions of Old Mutual Rewards will continue to apply to your membership. If you stop being a member of Old Mutual Rewards, these terms and conditions will no longer apply to your policy or policies. * Old Mutual policy or policies means any qualifying Old Mutual product, as determined by Old Mutual, that is a long-term insurance policy in terms of the Long-term Insurance Act 5 of 1998 or a short-term insurance policy in terms of the Short-term Insurance Act 4 of 1998. Note: Premium re-allocation, as explained above, does not apply to any retirement funding policies e.g. retirement annuity policies.

  A note on ownership

  Only if you are the ‘owner’, as described below, will you be eligible to benefit from the additional product category and any potential points from premium, contributions or instalments on the said policy or contract.

  • For lending (Old Mutual Finance Personal Loans), only the person responsible for making the loan instalments will be considered the owner.
  • Where an investment or risk policy is owned by more than one contracting party, only the contracting party that Old Mutual has identified (in its sole discretion) as the person to whom all correspondence are sent in respect of the policy, will become entitled to the points mentioned above.

  6.1 EARN FROM OUR REWARDS PARTNERS

  We may from time to time make arrangements with rewards partners to allow Old Mutual Rewards members to earn additional points, bonus points, instant rewards or discounts by taking part in certain activities at the partners. These will be on such terms as may be contemplated or specified on the Old Mutual Rewards website from time to time .

  Partners may also have their own terms and conditions for each offer and these will include how bonus points are earned, when they expire and where they can be spent.

  Where the benefits are provided by an external party or service provider, Old Mutual Reward has no liability for any damage or loss suffered by the member.

7. SPENDING YOUR POINTS

You will be able to spend your Old Mutual Rewards points in the following ways:

• To buy a voucher to use at a rewards partner
• To enter certain competitions

When you use any points as set out in these terms, they will be deducted from the points accumulated in your account.

7.1 BUYING VOUCHERS TO USE AT REWARDS PARTNER

You may buy vouchers with your points to spend in store with our rewards partners.

When you buy a voucher, it will be your responsibility to check for any rewards partner-specific rules on the Old Mutual Rewards website.

Depending on the rewards partner’s terms and conditions, you may in some circumstances use your voucher to make either full or part payment for items you are buying at the partner.

Spending your voucher in store:

• When you buy a voucher, you will receive the voucher with a code that can either be scanned or entered at point-of-sale, depending on the partner’s point of sale system.
• If you use your voucher to make an in-store purchase, your voucher must be displayed to the cashier/teller at point-of-sale.
• Vouchers may not be cancelled, refunded or exchanged for cash but may only be used as a means of payment at the partners.

REWARDS PARTNERS

Partners may have their own specific terms and conditions which could be different to our terms and conditions and are subject to change from time to time. 

The specific partner’s terms and conditions will apply to any related purchase, product queries or refunds.

Old Mutual Rewards will not provide you with points or cash back for any for any product returns.

If we cancel our contract with any of our rewards partners, we will give you ninety (90) days’ notice via your preferred means of communication before termination of our contract with any partner. This means that, should this happen, the voucher validity of your existing voucher may be affected. You will be required to redeem your voucher within the specified time in the notice.  

Because we have no control over a reward partner's business processes and practices, including the products or services they promote or sell, or the terms and conditions according to which they promote or sell their products or services, to the maximum extent permitted by law:

• we cannot guarantee that their products or services will suit your needs or will be satisfactory in all respects;
• neither we nor any other member of the Old Mutual Group can be held liable for any claims, loss or liability caused by any reward partner or arising from their products or services or terms and conditions; and
• you hereby indemnify all of us and our respective agents, officers, subsidiaries, holding companies, affiliates, successors, assigns, directors, service providers, suppliers, employees or representatives against all such claims, loss and liability.

We will do our best to make sure that all the information about the partner rules and regulations included in our terms and conditions are correct, however, we cannot guarantee the accuracy of the information, to the maximum extent permitted by law.

TFG: Fabiani, Jet, Markham, Sportscene, The Fix, G-Star, Sportcene, @home, Jet Home, American Swiss and Sterns TFG

7.2 BUY AIRTIME FROM NETWORK PROVIDERS

MTC

7.3 ENTER COMPETITIONS

7.4 REWARDS SIGN UP COMPETITION: TERMS AND CONDITIONS

• Eligibility
  • Participants: Open to non-Old Mutual customers aged 18 years or older.
  • Sign-Up Period: Participants must register for the Old Mutual Rewards program between 3 -31 March.
  • Confirmation: Upon registration, participants will receive a confirmation SMS. To enter the competition, they must forward this SMS to the designated number, consenting to enter the draw. Send your Rewards sign-up SMS to 081 144 7559 to enter the draw.  
• Exclusions
  • Ineligible Individuals: Employees, directors, agents, non – Namibian citizens or consultants of Old Mutual Namibia and their immediate family members (spouses, parents, children, siblings) are not eligible.
  • Proof of Eligibility: Old Mutual may request proof of eligibility, and participants providing false information will be disqualified.
     
• Winner Announcement
  • Draw Date: The winner will be drawn and announced on 4 April 2025.
  • Number of Winner(s): Up to 35 winners could win their share of 35 000 Rewards points. That’s 1000 Rewards points each.
  • Notification: A notification SMS will be sent to the winner post-draw.
     
• Prize Details
  • Each winner will win their share of 35 000 points (35 winners, 1000 points each) which will be loaded on the winner’s Rewards profile by 11 April 2025.
  • This equates to N$3500 dollars split between 35 winners (N$100.00) each.
  • There will only be a lucky draw to determine the 35 Winners.
     
• Terms & Conditions
  • Organizer: Competition organized by Old Mutual Life Assurance Company (Namibia) Limited.
  • Agreement: Participants agree to the competition terms by signing up for Old Mutual Rewards and forwarding the confirmation SMS.
  • Prize Restrictions: The prize is non-transferable and cannot be exchanged for cash.
  • Liability: Old Mutual Namibia is not liable for any loss, harm, or damages related to the competition or trip.
  • Technical Issues: Old Mutual Namibia is not responsible for any technical issues preventing competition entry.
  • Final Decisions: All decisions by Old Mutual Namibia are final.
     
• Proposed Addition to Terms & Conditions: Data Privacy
  • Participants consent to the collection, use, and processing of their personal data by Old Mutual Namibia for administering the competition and awarding the prize.
  • Personal data collected will be used solely for competition purposes, including contacting participants, verifying eligibility, and delivering the prize.
     
• Support
  • What if I encounter issues signing up for the loyalty program?
    • For issues, it's best to contact Old Mutual Reward’s customer support or visit their website for assistance for more details, visit https://secure.rewards.oldmutual.com.na/web/om-na/home

7.5 INVEST YOUR POINTS - UNIT TRUST

8. COMPETITIONS AND PROMOTIONS

These are the standard competition and promotion terms and conditions which will apply to competitions and promotions conducted by the Old Mutual Rewards programme (“us/we”), Address: Mutual Tower, 223 Independence Avenue, Windhoek, save to the extent amended for the specific competition and/or promotion.

To qualify and to participate in any of our competitions and promotions the following terms and conditions will apply:

• Competitions and promotions are only open to registered members of Old Mutual Rewards, who are at least 18 years or older (unless stated otherwise) and who remain active members during the promotional and competition period and who comply with all the Old Mutual Rewards terms and conditions.
• Employees of the Old Mutual Rewards programme, directors, partners, agents and consultants of Old Mutual, its affiliated companies and/or agencies or members of their immediate family may not enter the competitions and promotions, unless otherwise specified.
• Separate terms and conditions will apply to Old Mutual staff competitions.
• Specific competitions will have their own terms and conditions over and above these rules.
• Information on the prizes and how to enter form part of the specific rules applicable to each competition or promotion.
• We reserve the right to verify the validity of entries and to disqualify any entrant who tampers with the entry process or who submits an entry that does not comply with all the terms and conditions and any promotional guidelines.
• Entries must not contain any offensive or abusive content. Any entries deemed by us to contain offensive or abusive content will be disqualified.
• Promotional and competition periods, winner prize and methods for selecting the winner will be specified by each specific competition or promotion.
• The competition results and draws will be overseen by an independent auditor.
• Where any dates or times need to be calculated in terms of this agreement, the international standard time: GMT plus two hours will be used.
• No late entries will be accepted.
• There may be a limit on the number of entries per participant depending on the rules of each competition or promotion.
• The results of the competition and promotion are final and no correspondence will be entered into.
• The winner’s name and entry may appear on the Old Mutual Rewards website and Old Mutual’s social media channels, magazines or any other media channel. The winner will be given the opportunity to decline any opportunity to appear in any marketing activity and may refuse the use of his or her image in marketing material.
• To the maximum extent permitted by law, we are not liable for any tax implications that may arise as a result of any prize. Independent financial advice should be sought.
• We will only use the winner’s details for the purpose of the competition and will protect the winner’s personal information as required by relevant Namibian laws.
• Any data collected will be held by us in accordance with our Privacy Policy.
• To the maximum extent permitted by law, we assume no responsibility for any error, omission, interruption, deletion, defect, delay in operation or transmission, communications line failure, computer viruses, bugs, unauthorised intervention, fraud, technical failures, theft or destruction or unauthorised access to or alteration of entries.
• If the competition or promotion is interfered with in any way or is not capable of being conducted as reasonably anticipated due to any factor beyond our reasonable control, we reserve the right, in our sole discretion, to the fullest extent permitted by law (a) to disqualify any entrant, or (b) subject to any written directions from a regulatory authority, to modify, suspend, terminate or cancel the promotion, as appropriate.
• We reserve the right to terminate any competition or promotion immediately and without notice for whatever reason or if required by law. In the event of this happening, participants agree to waive any rights they may have in this competition, and acknowledge that they will have no recourse against Old Mutual or its agents.
• To the maximum extent permitted by law, we cannot guarantee the performance of any third parties and will not be liable for any default by a third party.
• If we are not able to get hold of you as set out above in the competition rules, or you do not claim your prize within a specified period, any unclaimed prize will be lost and may be awarded to other participants.
• Prizes cannot be swapped for cash or a different prize.

9. HOW TO CONTACT US IF YOU HAVE A QUESTION OR A COMPLAINT

Any complaints can be sent to us via the following channels:

• On our website: www.oldmutual.com.na/rewards by completing the Contact Us form
• Email address: [email protected]
• Contact Centre: 061 299 3470

10. PERSONAL INFORMATION THAT OLD MUTUAL WILL COLLECT AND KEEP ABOUT YOU

Entry into the Old Mutual Rewards programme is conditional on you providing certain personal information.

We may use your information or obtain information about you from third parties for the following purposes in addition to what is described in the Privacy Policy:

• communicating with you about Old Mutual Rewards, your account, earn and spend transactions, purchases and other related services
• responding to your customer service enquiries and requests for information
• sending you personalised promotions and special offers
• informing you about our brands, products, events or other promotional purposes
• maintaining and improving our sites and the products and services we offer
• detecting, preventing, or investigating security breaches
• maintaining appropriate records for internal administrative purposes
• conducting surveys for our market research and analytics to refine our propositions to customers and how to improve Old Mutual Rewards to best suit your needs
• generating financial wellness reports, scores and other related financial information when you participate in Old Mutual Rewards financial wellness assessments
• collecting information from other participating affiliates of the Old Mutual Group for allocation of points earned through product-earn activities
• credit searches and/or verification
• fraud prevention and detection
• market research and statistical analysis
• audit and record-keeping purposes
• compliance with legal and regulatory requirements
• verifying your identity
• sharing information with service providers we engage to process such information on our behalf or who render services to us. These service providers may be abroad, but we will not share your information with them unless we are satisfied that they have adequate security measures in place to protect your personal information.

The privacy policy also contains information about how members may opt out from receiving promotional or marketing communication.

You may access your personal information that we hold and may also request us to correct any errors or to delete this information. In certain cases, you have the right to object to the processing of your personal information.

We are committed to treating your personal information with great care and in terms of the laws of our country. To view our full privacy notice and to exercise your preferences, please visit our website on www.oldmutual.com.na

11. CAUTION REGARDING PHISHING AND SPOOFING

If you receive an unsolicited e-mail that appears to be from us and that requests you to provide personal information such as your bank account details, credit card number, identity number, password and any other sensitive information, or that asks you to verify or confirm your information you have registered on the Old Mutual Rewards website by clicking on a link, it is most likely that the e-mail was sent by a ‘phisher’ or ‘spoofer’.

Do not respond to these e-mails and do not click on the links. Responding to phishing places you and your personal information at risk. To the maximum extent permitted by law, we cannot be held liable for any consequences resulting from your response to any email sent by a ‘phisher’ or a ‘spoofer’.

If you are unsure or have any doubts, please contact our Contact Centre to verify.

12. TAX IMPLICATIONS

We recommend that you obtain independent professional advice regarding any tax implications arising from the receipt, accumulation, spending of any rewards, benefits, discounts, vouchers or points.

To the maximum extent permitted by law, you are fully responsible for any tax implications arising from or associated with any rewards, benefits, discounts or points received, accumulated, transferred or spent due to you being a member of, or participating in, the Old Mutual Rewards programme.

13. TERMINATION OF MEMBERSHIP

We reserve a right to suspend or terminate your account immediately, to remove or refuse to award points, or cancel rewards associated with your account at any time, and without providing reasons where we have reasonable belief that you have:

• Violated these terms and conditions.
• Attempted to violate, abuse or engage in any fraudulent transaction to earn points or to use vouchers.
• Acted in a manner inconsistent with applicable laws and regulations in relation to the Old Mutual Rewards Programme.

13.1 YOUR RIGHT TO TERMINATE MEMBERSHIP

You may cancel your membership at any time by:

• Phone: Old Mutual Rewards Contact Centre at 061 299 3470
• Email: Give a 30 calendar days’ notice in writing at: [email protected] or
• Mail: Mutual Tower, 223 Independence Avenue, Windhoek, Namibia, PO Box 25548, Windhoek, Namibia

We may continue to communicate with you until we have received and processed your cancellation of membership.

We encourage you to use any earned points before cancelling or terminating your membership. Any points that you may have earned at that point, but not spent yet, will be cancelled.

13.2 YOUR MEMBERSHIP CEASES (STOPS) ON YOUR DEATH

Your membership will stop and your account will be closed when you die.  Any points that you may have earned at that point, but not spent yet, will be cancelled.  Your deceased estate will have no claim to any points that you may have earned at that point.

13.3 OLD MUTUAL’S RIGHT TO CANCEL THE REWARDS PROGRAMME (OR PARTS THEREOF)

We reserve the right to cancel the Old Mutual Rewards programme completely, or parts (aspects) of it, if legislation (the law) requires that we must cancel it or make changes to the terms and conditions, or if the regulator under whose control Old Mutual (or any company in the Old Mutual Group) falls, instructs us to cancel the programme.

We may also cancel Old Mutual Rewards if it is no longer, in our view, financially or practically viable to keep it in operation.

We will honour all points and vouchers earned by members up to that point unless the law or the regulator instructs us otherwise.

14. OUR ADDRESS FOR PURPOSES OF LEGAL NOTICES

In case we cannot settle a dispute with you, any legal notices must be sent to: Mutual Tower, 223 Independence Avenue, Windhoek, Namibia, PO Box 25548, Windhoek, Namibia.

15. GOVERNING LAW

These terms and conditions, your membership or transactions stemming from your membership of the programme will be governed by and construed in accordance with Namibian laws and you consent to the jurisdiction of the Namibian courts in respect of any dispute which may arise in respect of these terms and conditions.