It’s nearly time to say goodbye to 2023. Why not use the few weeks remaining to make sure your new year is the one in which you make your dreams come true!
Get up to R10 million life insurance from South Africa’s #1 Direct Life Insurer
You know your family will be taken care of when you take out up to R10 million 1Life Pure Life Cover. Get life cover with 1 simple call, immediate underwriting and no paperwork or medical exams – just one quick HIV swab.
Get up to R10 million life cover immediately with just 1 simple call and no paperwork.
You are covered immediately for accidental and natural death and COVID-19 related complications.
With 1Life life insurance, get no increases, guaranteed, for the first 12 months.
Covered by another insurer? Upgrade with 1Life & add up to R3 million cover with no medicals.
Your policy includes a Pay now death benefit of R50 000 to cover your funeral expenses.
No medical checkups required, just a simple HIV saliva swab.
A life insurance policy is there to make sure that a family has financial protection when the breadwinner passes away. When you take out a life cover policy, you pay a premium every month and, in the event of the life assured’s death, 1Life pays your beneficiaries, for example your family or other dependants, a lump sum.
Your family can use your life insurance pay-out to survive the loss of your income and provide them with the financial protection they need to live the life you’ve always planned for them. A lump sum pay-out can be used to cover daily living expenses, medical bills and school fees, or to pay off debts, like your house or cars. Your family can also use your pay-out to start building generational wealth by saving and investing for their future and their children’s future.
Generational wealth is family assets like money or property that is passed from one generation to the next. Each generation not only benefits from generational wealth but also grows it and passes it on to the next generation. This blog explains generational wealth in more detail and discusses why it is so important, not only for you, your children and theirs, but for the whole country.
Defining generational wealth is easy, building it requires planning and dedication! You should focus on saving and investing wisely, paying off the bond on a home that you can leave to your children, starting a side hustle to generate extra income for future generations and of course ensuring that you have sufficient life cover. Follow the link for more advice on the best way to build generational wealth.
The amount of life insurance cover you need depends on your individual circumstances - your life stage, your income, the future needs of your dependants, and of course affordability. Use this life insurance calculator to work out how much cover you need or how much cover you qualify for.
Your premium is based on your specific risk profile (each client is different) and this will have an impact on how much you will pay. The factors that will affect your risk profile are:
Yes there are certain waiting periods that apply. From the start of your policy, you are covered for accidental death. The waiting period for natural death claims are covered in the policy schedule that you receive once you take out life insurance with 1Life. There is also a two-year waiting period for suicide.
Cover may be increased to the maximum amount that you qualify for at any time once the policy has been issued. Further medical underwriting and an HIV test may be required. Your premium will be adjusted according to the new sum requested and the additional cover will start on receipt of the new premium.
On pure life cover, the amount of life cover may be increased by 25% of the original insured amount, up to a maximum of 2 times (double) the amount originally insured or up to the 1Life maximum insurable amount at the time – whichever is the lower. This is without the need for any further medical underwriting, other than providing a new negative HIV test for the life assured.
This benefit option may only be exercised every 3 (three) years on the anniversary date of the policy or after a significant event has occurred as described below:
Failing to pay a premium may mean that you will not be covered for the specific month. It is important to contact your life insurer to make alternative arrangements. The policy may lapse if more than one premium is not paid.
If you need to lodge a claim with 1Life, the following procedure would need to be followed: