A list of life insurance companies in South Africa. This includes both direct life insurance companies as well as traditional life insurers using financial advisors or brokers as a distribution channels.
1Life Insurance Ltd
ABSA Life Ltd
Alexander Forbes Life Ltd
Allan Gray Life Ltd
Assupol Life
AVBOB Mutual Assurance Company Ltd
Capital Alliance Life Ltd
Channel Life Ltd
Charter Life Insurance Co Ltd
Clientele Life Assurance Co Ltd
Discovery Life Ltd
Frank Financial Services Ltd
Guardrisk Life Ltd
Hollard Life Assurance Company Ltd
HTG Life Ltd
Investec Employee Benefits Ltd
Investment Solutions Ltd
Liberty Group Ltd
McLife Assurance Co. Ltd
Medscheme Life Assurance Co. Ltd
Metropolitan Life Ltd
Momentum Group Ltd
Nedgroup Life Assurance Company Limited
New Era Life Insurance Co Ltd
Old Mutual Life Assurance Co (SA) Ltd
Pinnafrica Life Ltd
Professional Provident Society Ins. Co. Ltd. (PPS)
Prosperity Insurance Co Ltd
Regent Life Assurance Co Ltd
Rentmeester Assurance Ltd
Safrican Insurance Co Ltd
Sage Life Ltd
Sanlam Life Insurance Ltd
What is a life cover plan?
The Life Cover plan allows policyholders to look after their family, even after their death. The plan provides whole-life cover that pays out a lump sum to the beneficiaries of the policyholder. It ensures that your loved ones are secure even after you’re gone.
What age should you buy life insurance?
While the optimal age to purchase life insurance is under 35, Millennials are the least likely to purchase a policy. In 2015, individuals between 18 and 35 overestimated the cost of a policy by 213%
How much life insurance is enough?
A good rule of thumb is getting life insurance coverage that’s 10-12 times your income, but it depends on your individual financial circumstances. For many people, buying a life insurance policy is a smart move that will ensure financial coverage for family and loved ones
How does a life cover works?
Life insurance is similar to other insurances you may have – you pay a premium to the provider who provides you with an agreed level of cover then, if you die whilst the plan is in force, the provider will pay the agreed sum assured to either the named beneficiaries of the plan or your estate.
What are the benefits of life cover?
Leave your family and beneficiaries financially secure in the event of your death. Life cover pays out a lump sum when you die or are diagnosed with a terminal illness, which can be reinvested to provide your family with an income. It can also be used to settle debt, cover estate duty costs and even funeral expenses
What are the benefits of a life insurance?
Advantages of Life Insurance
- Life insurance provides an infusion of cash for dealing with the adverse financial consequences of the insured’s death.
- Life insurance enjoys favorable tax treatment unlike any other financial instrument. Death benefits are generally income-tax-free to the beneficiary.