Expense protector

Expense protectorA disabling accident or illness might leave you unable to work and without an income for a few months, but it certainly won’t leave you without monthly expenses. Your 1Life Expense Protector policy will pay out a monthly income if you are ever temporarily disabled by illness or injury, funds that you can use to pay your bills and support your family. 

Why 1Life Expense Protector?

  • Pays out a monthly income, as selected by you, in the event of temporary disability
  • Replace monthly income and cover expenses until you can return to work
  • Covers you immediately for accidental disablement
  • No medical check-ups, just an HIV test
  • No premium increases for the first 24 months
  • Choose to include a 5% benefit escalation at inception or at claim stage

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1Life Expense Protector, a form of income protection, pays out a monthly income if you are ever temporarily disabled by accident or illness. These funds can be used to replace all or part of your monthly income to pay monthly living expenses, for example groceries, medical aid, your bond and school fees.

You also get to enjoy the freedom of choice. You can choose to have between 25%, 50%, 75% or 100% of your total insured amount paid over the months that you recover from your injuries or illness.

Benefit increaseWith your expense protector policy, you have the option to increase your benefit pay-out by 5% at inception of your policy or when you submit a claim.

No medicalsNo medical examinations required, just an HIV test. You can do your test at any participating Link Pharmacy with just a cheek swab or via a blood test at any Lancet Laboratory.

Fixed premiumsNo increase in your premiums for the first 24 months and thereafter they will only increase by 5% per year. (For example, if you are paying R150 per month, the increase after 24 months will only be R7.50)

Visit our FAQs page  to find out more about how you can insure your monthly income. 

Do you want financial protection against disability? Contact us for a quote today!

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Financial needs analysisBenefit from a financial needs analysis before you buy your cover. This means you buy only the cover you and your family need, based on your individual circumstances and what you can afford.

The Truth About MoneyAll 1Life policyholders qualify for money management services from The Truth About Money at no extra charge. These services include debt management and counselling, estate planning and financial literacy courses. Find out more about The Truth About Money.

Expo-SureDo you know that the risk of contracting HIV is significantly reduced if action is taken within 72 hours of being exposed to the virus? 1Life Expense Protector gives you access to Expo-Sure, a confidential HIV testing and treatment programme in the event of accidental exposure to HIV. Download brochure.

Want to find out more? Speak to one of our consultants.

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Your 1Life Expense Protector will pay out a regular amount, as chosen by you, to cover living expenses if you suffer a loss of income due to temporary disablement. You can choose to split your benefit between a monthly pay-out option or a total lump sum pay-out as follows:

  • 100% lump sum : 0% monthly
  • 75% lump sum : 25% monthly
  • 50% lump sum : 50% monthly
  • 25% lump sum : 75% monthly
  • 0% lump sum : 100% monthly

How is my premium calculated?Your 1Life Expense Protector premium is based on your specific risk profile. This means that factors like your age, gender, occupation and health will all be considered when your monthly premium is calculated.

When will a policy pay out?1Life Expense Protector pays out in the event of disability that results in a loss of income. Your payout depends on the type and amount of cover bought.

When would a claim be rejected?A claim will be rejected if the following causes the disability:

  • Participation in war, civil unrest, riots or terrorism
  • Participation in criminal activity
  • Radioactivity and nuclear explosions
  • Failure to obtain and/or follow reasonable medical advice
  • The life assured wilfully and materially breaking any law
  • Material misrepresentation or non-disclosure of information before the commencement date
  • Self-inflicted injury or illness
  • Excessive consumption of alcohol and or drugs
  • Participation in any hazardous sport or pursuit, unless the life assured informed us of this activity

Please refer to your policy book for a complete list.

Other exclusions – or conditions under which claims might be rejected – will also be listed in the policy schedule that is issued to you when you purchase your policy.

Deferment periodA deferment period, as indicated in the policy schedule, will be applied to your 1Life Expense Protector policy. This means a set number of days, as detailed in the schedule, need to pass after the occurrence of an event that leads to a claim before you are entitled to receive your benefit.

How do I submit a claim?You can find out how to submit a claim on our claims page. 1Life takes claims seriously and endeavours to attend to them timeously. Please speak to a claims advisor on 0860 10 51 96 if you need any assistance or have any queries.

Minimum age of entryYou have to be between the ages of 18 and 59 to purchase 1Life Expense Protector.

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The Truth About MoneyAt 1Life we know that your future is written in how you manage your money. But we also know that South Africans do not always have the money management skills they need to build the future of their dreams. That is why we launched The Truth About Money.

The Truth About Money makes money management services and training available to 1Life policyholders at no charge. These services include the following:

Debt counsellingIf your debt has become unmanageable and you are struggling to make ends meet, The Truth About Money can help! You can register for telephonic debt management and debt counselling services on The Truth About Money website.

Estate mediationBecause we know how important it is to have your affairs in order, we will help you draft a will for yourself and your spouse or set up a trust for minor beneficiaries. You can also apply for legal advice and mediation if you need help winding up the estate of a relative.

Financial education courseFinancial education is the key to your financial freedom. The Truth About Money offers you access to a digital Financial Education course that you can complete at your own pace at any Boston Campus nationwide. Apply today!

Online advice and informationDo you want to learn more about how you can take control of your finances? Visit our website for tools, tips, news and views!

All of these services are available to successful applicants and 1Life policyholders at no charge!

Visit The Truth About Money website to learn more and register.