All about Life Insurance in South Africa


Life insurance provides financial protection for your family if you die or if you are no longer able to provide for them. It provides a dependable source of financial protection for you and your family.

When searching for the right type of life insurance, an accredited financial advisor can help by conducting a detailed financial needs analysis. He/she should also be able to provide you with a comprehensive list of affordable options that can best meet your life insurance needs.

What you need to consider:

Consider how much it would cost to settle any outstanding debt. If you have a bond to pay, you need to consider how much it would cost to pay it off when you’re no longer able to do so.

You need a policy payout that’s large enough to replace your income plus extra money for inflation costs.

Consider future obligations. You may want to make sure that your children’s schooling costs are covered. Add this to your insurance needs.

The premium amount for which you qualify is based on your individual circumstances and the reason why you are applying.

What determines life insurance premiums?

  • Lifestyle factors
  • How much insurance you need
  • Personal details

Life insurance policies are typically flexible and can be changed according to your varying personal needs. It’s important to be honest when applying for life insurance. This will ensure that you are getting the cover you need.

What do you need to claim?

To claim for life insurance, you typically need to provide the following:

  • Certified copies of the beneficiaries and deceased’s identity documents
  • Certified copy of the deceased’s death certificate
  • A medical report

Types of life insurance you can get:

  • Term life insurance
  • Permanent life insurance
  • The life insurance cover you get is based on a number of factors, including:
  • Your gender, age, lifestyle habits income, education and your health status.


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