South African leading direct insurer Outsurance has announced a milestone in clients rewards. Outsurance has made payment of R1 billion rand in OUTbonuses to clients.
To celebrate this event Outsurance is running a competition enabling clients to share videos and photos of what they did with their OUTbonuses. Competition entrants might be on the road to fame as the best OUTbonus moments would feature in a new TV ad! There are also 25 cash prizes of R1000 each to be won!
What is an OUTbonus?
The OUTbonus is a cash bonus that rewards a client for not claiming. Should a client not claim for three consecutive years, he/ she receives a set percentage of the premiums paid in this period at the end of the third year in real South African Rands to spend at his/her heart’s content.
Should the client not claim for a further two years the client will receive a set percentage of the premiums paid within this period at the end of the fifth year. Thereafter for each successive claim-free year the client will receive a set percentage of all premiums paid within the year at the end of each year.