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Summer sun and fun! Yes, it’s that time of year again. The holidays are getting closer, and we’re all looking forward to a break and time with the people we love. Before the festivities begin, take a little time to check that your 1Life policies are up to date. This checklist makes it easy to check the details that matter. And if anything needs updating, you can make changes on the policyholder portal or via the WhatsApp service centre.
Policy review checklist
1. Names and contact details
Check the names of the life assured and all policy members against their ID documents, as well as their email and contact details. Names should match what’s on their ID.
Why? So, we can pay valid claims quickly. If the name of the life assured or a member on the policy differs from what’s on their ID documents, claims might be delayed.
2. Sum assured
Check the sum assured, which is the amount a funeral or life cover policy will pay-out.
Why? So that your loved ones have the funds they need to cover funeral expenses or maintain their standard of living if the main member passes.
Top tip: Use this life insurance calculator to work out how much life cover you need or speak to a financial adviser. You can also use the funeral costs calculator to calculate the cost of a beautiful send-off.
3. Your premium
Check the premium amount, payment dates and bank details.
Why? No premium means no cover. If you miss a premium payment, you have a grace period of 31 days to make it up to ensure your cover stays in place. If premiums aren’t paid, cover will be suspended, policies may lapse, and no claims will be paid.
4. Your beneficiary or beneficiaries
Check that your beneficiary or beneficiaries are correct, that their names are the same as on their ID documents, their ID numbers are correct and contact details are up to date.
Why? So that policy pay-outs are made to the correct person, and we can contact them quickly and easily.
Need to make changes to your policy?
- Visit the online policyholder portal to update your policy. You can also send us a secure message on the portal, and we will get back to you.
- Ask your financial adviser for assistance.
- Chat to one of our skilled consultants.
Remember, if you are struggling to pay your insurance premiums, talk to us about reducing your premium rather than cancelling your cover completely. We are always here to help.
That's one less thing on your to-do list
Looking after your family starts with the small things, including keeping your policies up to date. Tick this review off your holiday to-do list and you can get back to planning your summer break. Woza Dezemba!