What is a Life Cover?
Insurance is a means of protection from financial loss in which, in exchange for a fee, a party agrees to compensate another party in the event of a certain loss, damage, or injury.
Cheap Life Cover In South Africa
Progress Legacy Plan | Progress 4Life Plan | Progress 4Sure Plan | Progress Accident Plan | |
|---|---|---|---|---|
| Minimum premium | R150 per month | R120 per month | R90 per month | R73 per month |
| Maximum benefit (cover) | R10 million | R1,2 million | R300 000 | R1 million |
| Funeral cover for you and your spouse | included, optional for your spouse | included, optional for your spouse | included | no |
| Funeral cover for your parents and children | additional premium | additional premium | additional premium | not available |
| Yearly premium increases Increase your benefits and ensure that benefits keep up with the effects of inflation | yes | yes | yes | yes |
| Blood tests | yes – only an HIV test | no | no | no |
Which life cover is the best in South Africa?
FNB Life.
1Life Insurance.
Metropolitan Company.
Discovery life insurance.
Simply Life.
Sanlam.
ABSA life insurance.
Liberty life insurance.
How much is life covered in South Africa?
Premiums start from as low as R150 per month, depending on the level of coverage. Old Mutual Life Assurance is a trusted provider of life insurance products in South Africa.
Its Greenlight Life Cover offers flexible options, allowing policyholders to customize their coverage to meet their specific needs.
Can a foreigner get life insurance in South Africa?
The answer is “yes”, life insurance in South Africa is extremely important for foreigners.
What is the age limit for life insurance in South Africa?
In South Africa, there’s no law regarding the maximum age that someone could take out life insurance. Still, most insurance companies have their own age limit and it’s usually 65.
This is because, as people age, their risk of mortality increases.