Life Insurance Guidance

What is Life Insurance guidance?

  • Be honest
  • Avoid unpaid claims
  • Save on premium payments
  • Use a reputable insurance company
  • “Riders” are less expensive
  • HIV cover


Honesty is the best policy

Be brutally honest when applying for Life Insurance.

Questions about present-day health status and drug/alcohol use must be disclosed.

So do not gloss over questions about lifestyles, well-being and profession in an attempt to obtain the lowest possible premium.

Life Insurance GuidanceAvoid claims disputes

Insurance companies are vigilant when investigating the death of policyholders.

They will refute claims should they uncover any discrepancies in facts supplied by the policyholder.

Save on premium payments

Most insurance companies offer substantial savings to policyholders who pay their premiums in one lump sum payment annually.

Monthly payments have to be monitored 12 times a year, adding to administration costs.

Payment structures and discounts for upfront premium payments should always be thoroughly investigated before selecting a Life Insurance policy.

Select a reputable company

There are literally hundreds of insurance companies serving the South African consumer.

It is always best to choose a reputable company with a known track record.

So the reason for this is that they are usually financially sound and will be able to meet the claim in the event of the death of the policyholder.

What are “riders”? – Life Insurance Guidance

A “rider” is an addendum to an existing policy.

This can take several forms, but in the case of Life Insurance “riders” are generally added when policyholders are able to increase the lump sum payment of the life insured.

Adding a “rider” to an existing premium is far cheaper than taking out a new policy.

HIV Cover

With medical advances now able to treat and contain the HIV-Aids virus, most South African insurance companies offer cover for people suffering from this disease.

Applicants can research a list of all the insurers in South Africa to ascertain whether or not they offer HIV Cover.

So an insurance representative will make contact and recommend suitable policies.

Conclusion – Life Insurance Guidance

Consult an insurance broker before selecting a life insurance product.

They will give qualified and unbiased advice to best suit personal lifestyles and family needs.

Be honest when answering pre-qualifying questions, because honesty is always the best policy.

Opt for a “rider” when adding to the policy. This is far cheaper than taking out a new product.


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All info was correct at time of publishing