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7 things every policyholder should know

3 September 2014
3 minute read

At 1Life we believe that being able to take care of yourself and your family should not be complicated. That is why we make it simple - from our call centre to our easy-to-read policy documents and of course the policyholder blog, we work every day to make our policyholders’ lives just that little bit easier. This month we have pulled together a list of the top 7 things that every policyholder should know about their 1Life policy. From great benefits like The Truth About Money to important matters relating to your policy, this is what you need to know. And remember that if you have any questions on the items in this blog or on any other aspect of your policy, please contact us.

Continuity of Cover

If you have a 1Life Pure Life Cover, Disablement Cover or Dread Disease policy you need to make sure you understand the terms and conditions related to your policy and the best place to start is with your policy schedule and the 1Life policy book. It is very important to keep us informed of any changes like the below when they occur in your life, as these can have an effect on your benefit amounts and/or premiums payable. It is important that these are accurate especially when it comes to claims stage.

  • You start smoking
  • You get a new job
  • You are outside of the borders of South Africa for more than 14 consecutive days due to increased travelling for work or recreation
  • You start a hobby or sport that may put you at greater risk for example regularly engaging in skydiving, bungee jumping or high-speed motor racing/ you start a hobby or sport that may put you at risk

Great benefits: The Truth About Money

The Truth About Money provides personal finance services and advice to 1Life policyholders and their family at no charge. These services include debt counselling, estate mediation and a financial education course. Find out more at The Truth About Money.

Our USSD service

Do you know that you can use USSD to view your 1Life policies, change policy details, request a quote and even increase your life cover? To access our USSD service dial *120*101# from your phone and follow the menu prompts.
Note: That this service is only available to the mobile number registered on the policy.

The importance of maintaining your policy

From high school to your first home and marriage to your first child, your financial needs change as your life changes. For peace of mind, you should update your policy - be it a life insurance, funeral cover, dread disease or disability cover policy - whenever a life change impacts the amount of cover you need or the beneficiaries of your policies.

Your new website

Do you have any questions about your cover? Do you want to plan for your family’s financial future? 1Life recently launched a brand new website that has all the tools and content you need! It includes an online quote for life cover and funeral insurance, a financial needs analysis and a tools section with FAQs on all our products. And don’t forget our personal finance blogs – follow us on Facebook for all the latest news, advice and insights.

Read your policy schedule and book

When you bought your policy you would have been issued with a policy schedule and policy book. It is essential that you read and understand the terms and conditions of each of these documents as they work together to fully explain your individual policy. You should also ensure that all the details in your policy schedule are correct. Your policy schedule contains benefits details, information on your cover as well as underwriting declarations, or in other words the answers that you gave when you requested a quote. Your policy book has a glossary, general terms and conditions, general exclusions and product features and benefits.

Get a financial needs analysis

1Life’s call centre offers a financial needs analysis to help you work out how much you should be investing every month and how much life insurance, dread disease cover, and disability insurance you need. Buy only the cover that you and your family need based on your individual circumstances and what you can afford. Contact us today for your assessment on 0860 10 51 94 or do a basic assessment online.

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