Recommendations for life insurance

IanM

IanM

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Cape Town, ZA
I'm currently looking for new life insurance, income protector, dread disease cover.

Any recommendations from personal experience? T.I.A

EDIT: Currently on employer's group life with Momentum, but leaving for an international company at the end of May. Need to sort out my own insurance now.
 
Always used Discovery *spits* and some group life policies have a continuation clause where you can just keep on paying for the benefits.

Check your bank (FNB, Investec...maybe the others). In fact when I leave Discovery *spits* I'll probably give my bank a call first.
 
Hamster said:
Always used Discovery *spits* and some group life policies have a continuation clause where you can just keep on paying for the benefits.

Check your bank (FNB, Investec...maybe the others). In fact when I leave Discovery *spits* I'll probably give my bank a call first.
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Capitec doesn't have life insurance as far as I know.. So that's not an option.

I found this article from 2018, where FNB Life was rated top. Found that quite interesting...
https://businesstech.co.za/news/bus...e-south-africas-best-and-worst-life-insurers/
 
IanM said:
What would qualification entail?
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Degree that kind of thing cant remember what the exact requirements are but I can tell you I shopped around and they were the best in price and after being with them 5 years their service is tops
 
Hamster said:
Move bank if you still can? I say that because you'll probably find a lot of stuff easier with FNB whilst overseas albeit maybe a bit more expensive.

But that's for a different thread.
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Agreed... I'll look into it thanks!
 
Snyper564 said:
Degree that kind of thing cant remember what the exact requirements are but I can tell you I shopped around and they were the best in price and after being with them 5 years their service is tops
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Good to hear... I'm professionally qualified so I'll probably be able to get cover with them. Just submitted a call-me-back on their site. Thanks for the suggestion!
 
PPS is definitely the way to go. Just wondering if it makes sense to get life insurance if you do not have dependents. Does getting it when you’re younger and healthier actually decrease your premium?
 
I wonder if there is any cartel like practises when it comes to life insurance industry. Very little variance in pricing between the firms. Currently with momentum and got quotes from Discovery, Old Mutual and Sanlam and they were all within R50 of each other.
 
IanM said:
For now until lockdown lifts, SA. Afterwards I'm relocating to Netherlands.
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FYI: The insurance products in The Netherlands are lightyears ahead - there is a reason that they are in the Top 3 Richest nations in the EU despite being a tiny country, and it's not only due to the historic VOC advantages. The Netherlands is known for their (erfenis) verzekeringen.
 
IanM said:
Capitec doesn't have life insurance as far as I know.. So that's not an option.
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Capitec charges only (approx) R3 per card swipe overseas. Who can beat that? (So perhaps you should keep your account active when moving overseas?)
 
IanM said:
For now until lockdown lifts, SA. Afterwards I'm relocating to Netherlands.
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Does it make any sense at all to get insurance coverage here when you will anyway be getting superior insurance overseas, while living there for YEARS and not months. That is the real question, isn't it?
 
CagedNick said:
PPS is definitely the way to go. Just wondering if it makes sense to get life insurance if you do not have dependents. Does getting it when you’re younger and healthier actually decrease your premium?
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It make sense , when you need to buy a property. Life cover can be used as surety to settle the outstanding amount when bond payer passes away. Relatives can be beneficiaries, if one does not have a family of his own.

The earlier the better.
 
Anyone have any experience with pre-loading on life insurance premiums ? Esp with chronic diseases like diabetes 2 and hypercholesterolemia?
 
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