Life Insurance in South Africa
Choosing the right life insurance in South Africa for your needs can be tricky, with life insurance providers all offering different products with varying features. ThinkMoney subscribers evaluated and reviewed the various options for life insurance in South africa based on their experience with the various products in terms of service, death cover, disability cover, flexibility and premiums. The results of these reviews are summarised below.
One of the best rated insurance providers was Instant Life insurance, which 4.6 stars overall. Instant Life offers up to R6 million in life cover, 20% cash back every 10 years and a convenient online application process. ThinkMoney subscriber Anthea Variend says, “The option of getting life cover via an Internet application definitely appealed to me. The process was seamless and I received regular communication via email about the progress of my application. ThinkMoney reviewer Innocentia Phiri remarked “No brokers, no paperwork and cheap and affordable premiums”.Instant Life also offers disability, funeral, critical illness and cancer insurance cover.
Another top rated option for life insurance in South Africa was AllLife insurance, which was rated 4 stars overall. It provides life cover for up to R5 million with premiums starting at R150 for life and disability cover for HIV positive and diabetic individuals. Although quite new in the life insurance market, Frank.net was another life insurance provider that received a 4 star overall rating, providing up to R10 million in life cover. It is also a flexible life insurance policy, allowing members to increase or decrease their cover as their circumstances change that can all be done telephonically.
Discovery life insurance had a 3.8 overall star rating and more than 100 reviews, proving its popularity on the market. More than 75% of reviewers said they would recommend the product to others with comments pointing to comprehensive cover, competitive rates and friendly service from consultants.
Old Mutual life insurance received a 3.8 overall rating from 174 reviews, more than 65% of which were recommendations. Dumisani Njomi commented, “This is the most affordable and top of the range product that caters for all long term insurance needs”. However, some reviewers did comment on the fact that service levels could be improved upon.
Looking for the best life insurance in South Africa for your lifestyle and financial needs? Read our life insurance reviews written by ThinkMoney subscribers, and then apply quickly and easily online. You can also compare life insurance side by side, looking at various features such as products details and premiums.
