Not all life insurance policies are the same and to demonstrate this point, we will compare the products of three different companies.
1Life Elevated
- Pays out from R200 000 to R6 million life insurance cover to a beneficiaries of your choice in the event of your death
- R25 000 funeral benefit to be paid out to your beneficiaries within 48 hours
- If you are diagnosed with a terminal illness and your life expectancy is less than 12 months, your cover amount will be paid out
- Includes a Guaranteed Assurability option, which means that you can increase your cover amount if your lifestyle changes
- Your cover amount will not decrease while your policy is active
- Covers you for the whole of your life
- Covers you immediately for accidental and natural death
- Suicide is covered after the first two years
- Provides access to Expo-Sure, a confidential HIV testing and treatment programme for accidental exposure.
Liberty Life – Universal Lifestyle
- This life insurance plan provides you with both risk cover and an investment in one policy. It is up to you to choose the mix of insurance and investment elements and tailor the plan to your needs.
- You can also change this mix throughout your life without having to cancel policy and take out a new one.
- A portion of your monthly premium will go to your life cover and the remainder into an investment account. The growing value of your investment account will gradually offset your risk protection benefits.
Hollard Insurance
- Life Cover of R50 000 to R200 000 from which you will receive 20% of your premiums paid back every five years, whether you claim or not. You also have the option of adding your partner onto your policy
- Life Cover of R200 000 to R2 million – Additional cover including occupational disability, functional impairment and female trauma protection; Savings on premiums; death, terminal illness and funeral benefits as part of the life cover.
- Value added benefits at no additional premium including funeral support and repatriation, trauma, assault and HIV protection treatment, emergency medical services, legal and health support benefits
With all these and many more options available to you why have you still not got life insurance?
