LIFE COVER
Provide And Protect
A legacy is not a collection of memories at the end of a life – it is consistent everyday acts; a lived experience. Live the legacy.
Taking our Provide and Protect Life Cover ensures you continue to Live your Legacy in the unfortunately event of being left permanently disabled or with a dread disease.
Life cover provides so that your family is able to pay off all outstanding debts and day to day living continues easily.
You have the option to choose any combination of the
following benefits or all of them together:
| Benefit | Death Cover | Physical Impairment Cover | Dread Disease Cover |
|---|---|---|---|
| Entry Age | 18 to 64 | 18 to 59 | 18 to 59 |
| Minimum Cover | R150 000 | R50 000 | R50 000 |
| Maximum Cover | R1 000 000 | R1 000 000 | R1 000 000 |
| Provide Bonus | 20% of premiums back every 5 years | – | – |
| Accidental Death Cover | Immediate Accidental Death Cover | – | – |
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Frequently Asked Questions about Life Cover
What benefits does the product offer?
- Death Benefit
- Physical Impairment
- Core Dread Disease
- Cashback 20% of premiums due in each 5-year period, including the policy fee, in each 5-year period
What is the minimum and maximum cover amount I can get?
- Death Benefit: R150 000 – R1 000 000
- Physical Impairment: R50 000 – R1 000 000
- Core Dread Disease: R50 000 – R1 000 000
When do the benefits cease as per the policyholder's age?
- Death Benefit– Cover is provided for whole of life
- Physical Impairment– Cover is provided up to age 64, or earlier death
- Core Dread Disease– Cover is provided for whole of life
- Cashback– Will continue to be paid if the policy is in force
What are the entry ages?
- Death Benefit– 18 to 65
- Physical Impairment– 18 to 59
- Core Dread Disease– 18 to 65
What are the fees charged on a monthly premium?
Administration fee– R20 per month
How much premium can I pay?
The minimum premium is R80 (excluding policy fee of R20)
What questions are asked for underwriting purposes?
- Only 7 health questions
- No medical tests
What happens when principal life assured dies?
The beneficiaries of the PLA will be eligible for the pay-out.
Does my premium increase on a yearly basis?
There are no premium increases on a yearly basis. The plan charge will remain unchanged for the Level payment pattern.
Can a cover level be increased or decreased?
The cover level may be increased or decreased at any time.
What are the exclusions?
- Death Benefit– If death is caused by suicide committed within 24 months from the cover start date
- Physical Impairment– Rules apply
- Core Dread Disease– Rules apply
When does cover start?
- Death Benefit
- Accidental death– Day after acceptance day
- Non-accidental death– The date that we collect the first premium
- Physical Impairment– The date that we collect the first premium
- Core Dread Disease– The date that we collect the first premium
- Death Benefit
Changing beneficiaries?
The beneficiaries can be changed by the policyholder by request at any time
Requirements
TO QUALIFY FOR LIFE COVER WITH SAFRICAN
You must be a South African citizen or a permanent resident.
You must be between the ages of 18 and 64 when you take up the policy.
You must have a bank account.
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