Nedbank Insurance Greenbacks MyCover Life campaign
Terms and conditions
1. The promoter
Nedgroup Life Assurance Company Limited, Registration Number: 1993/001022/06 a licensed financial services provider (FSP40915) and designated and licensed insurer, runs this campaign. We reserve the right to make it available to a selected group of Nedbank Insurance clients only, who will be notified in the form of personalised offers that will be disseminated via email, In App and WhatsApp.
2. Campaign period
The campaign starts on 1 August 2026 and ends at midnight on 28 February 2027 (campaign period). The fulfilment end date of the campaign will be midnight on 31 July 2027 (this is the date by when all qualifying rewards will be fulfilled).
3. Who can and cannot participate in the campaign
3.1 A participant (you) must:
3.1.1 be 18 years or older;
3.1.2 have a valid South African identity document;
3.1.3 have a permanent residence and permanently reside in South Africa;
3.2 our employees (including temporary and contract employees) including their spouses and children, associated companies, agents, contractors, and sponsors may participate in the campaign;
3.3 individuals who are Greenbacks members and have achieved the Structured Saver goal at the time of receiving the campaign offer;
3.4 individuals whose account is in good standing, which means that it may not be in arrears or have been handed over for legal collection;
3.5 must not have an existing Nedbank Insurance MyCover Life policy at the time of receiving the campaign offer; and
3.6 must have consented to receiving marketing communication from Nedbank and its subsidiaries.
4. How to unlock your additional Greenbacks rewards
To qualify to unlock 2,000 Greenbacks points as part of this personalised offer, you must, during the campaign period, take up a MyCover Life policy and pay your first premium in full and on time. If you continue paying your MyCover Life premiums for at least three (3) consecutive months, you will qualify to unlock additional Greenbacks rewards which are detailed below.
5. The reward
5.1 Greenbacks points unlocked after the first premium payment:
All qualifying participants who successfully pay their first MyCover Life premium will qualify to unlock 2,000 Greenbacks (a once-off reward), irrespective of the premium amount.
5.2 Greenbacks points unlocked after three (3) consecutive premium payments:
Participants who continue paying premiums for three (3) consecutive months will qualify to unlock an additional Greenbacks reward. The reward amount will be tiered based on the monthly premium of the MyCover Life policy. This will be tiered as follows:
- Clients paying MyCover Life premiums below R499 will qualify to unlock 1,500 Greenbacks points.
- Clients paying MyCover Life premiums between R500 and R999 will qualify to unlock 2,000 Greenbacks points.
- Clients with MyCover Life premiums above R1,000 will qualify to unlock 2,500 Greenbacks points.
6. Greenbacks rewards allocation
6.1 The first premium reward will be allocated after confirmation of our receipt of your first MyCover Life premium. The three month reward will be allocated after our receipt of three (3) consecutive successful MyCover Life premium payments.
6.1.1 You will receive the Greenbacks points only once we have verified and confirmed your details, including your compliance with these terms and conditions.
6.1.2 The Greenbacks points will be available until redemption as per the Greenbacks rewards programme rules.
6.1.3 You can only qualify once per a policy taken up during the campaign period.
6.1.4 If a dispute arises, our decision will be final and binding on all aspects of the campaign, and we will not discuss the matter further.
6.1.5 All costs or expenses relating to the Greenbacks points that have not been mentioned here are excluded.
6.1.6 We will not be responsible for any additional conditions that third parties impose.
6.1.7 We will not be liable for delays or failure to deliver any part of the Greenbacks points resulting from acts beyond our reasonable control. We will let you know as soon as reasonably possible if your reward is affected in this way.
6.1.8 We reserve the right to replace the Greenbacks points at any time with another reward of similar commercial value.
7. General
7.1 All information about this campaign, including information that is published on any promotional material, is part of these terms and conditions.
7.2 By participating in the campaign, you agree to be bound by these terms and conditions.
7.3 These terms and conditions are available on the website throughout the campaign period.
7.4 We may ask you to consent in writing to endorsing, promoting, and advertising any of our services, without payment. If you decline our request, you will still receive the Greenbacks points.
7.5 By entering and participating in this campaign, you acknowledge that your personal information needed for the campaign will be shared with us and our agents, but only to the extent necessary for this campaign. Your personal information will be used in line with South African consumer and data protection laws.
7.6 We reserve the right to extend, shorten, postpone or cancel the campaign immediately and without notifying you if it is permitted by law, if we must do so by law, or for reasons beyond our control. If this happens, you will give up any rights that you may have in terms of this campaign and you will have no recourse against us or our agents, contractors, or sponsors as a result of the extension, shortening or cancellation.
7.7 We or our directors, employees, agents or suppliers will not be responsible for any direct or indirect loss or damage resulting from your participation in the campaign, or for any accident, injury, harm, costs, or death that you or any other person who participates in the offer sustains at any point during the fulfilment of the reward.
8. More information
For more information about the campaign, call us on 0800 333 111.
