South Africans can benefit from a good life insurance policy that caters to their unique needs. Life insurance can protect those who are dependent on you and ensure any debts are paid should you pass away. Your loved ones shouldn't need to worry about their financial future if you have a good life insurance policy in place, but which one is right for you?
There are many different life insurance providers in South Africa, with varying offers available. Your premium and pay-out could be affected by the provider and policy you choose, which makes it important to know what your options are. At hippo.co.za, we want to help you find the best life insurance policy for your needs and budget. You can do this by comparing life insurance quotes from different providers on our website.
We have over 50 partner brands, including several life insurance providers. Note that there are a few life insurance providers listed below who don't form part of our panel because they either don't meet the necessary criteria or because they have opted not to join. Because we want to help you make the best choice, we're also including companies in our guide that aren't part of our panel, giving you all the information that you need to compare the different life insurance options available. Although this guide is not comprehensive, we will update it regularly with information on new providers.
1Life offers life insurance with unique benefits, ensuring your loved ones are covered against the loss of the breadwinner in your home. You can get cover of up to R500,000 tax-free as a lump sum which can be used for day-to-day costs, like your children's school fees and medical bills. There is also the option to upgrade your cover to up to R3 million, ensuring your family's lifestyle doesn't suffer.
1Life offers the opportunity to save on your insurance premiums when you apply online. Other unique benefits include no paperwork or medical examinations, free financial advice, and an online financial needs analysis tool.
Choose the cover you need at a premium you can afford with ABSA life insurance. The ABSA Ultimate Protector life insurance plan offers the insured up to R1 million in cover for death from natural causes or accidental disability. The claims process is easy, and your premiums are calculated based on your age and gender. Benefits increase annually by 5%; however, cover will cease at age 65.
The ABSA Instant Life insurance plan offers you more, with cover of up to R6 million for life, disability, and critical illness. You can get 20% cash back every 10 years, and you can even get a pay-out up to 12 months early if you are diagnosed with a terminal illness.
Known as a leading financial services provider in Africa, Alexander Forbes offers a range of life insurance solutions. Alexander Forbes has partnered with an approved panel of top insurance providers to offer their clients life insurance options that can be adjusted to suit their unique situation.
With Alexander Forbes, you can get life insurance that gives you a lump-sum pay-out to a predetermined beneficiary when you pass away. The salary of the insured deceased can also be replaced, and the life insurance policy can cover outstanding debts.
Affordability meets security with Assupol's life insurance policies. Choose from four plans that offer premiums from as little as R73 per month (Progress Accident Plan) and a maximum benefit of up to R10 million (Progress Legacy Plan).
You can also opt to include additional benefits in your plan. The On-Call Plus benefit can help provide money for groceries, while the Assupol On-Call benefit offers medical benefits and more.
More than just a car insurance company, Auto & General offers life insurance, dread disease, and disability cover so you can support your family financially when you are no longer there. Auto & General Life insurance packages include a product named Expo-Sure, which offers support and assistance if you or a family member are exposed to HIV.
The Basic plan pays out between R50,000 and R200,000, while the Elevated plan pays out R200,000 to R10 Million. Both plans include a funeral benefit and the assurance that your cover amount will not decrease while your plan is active. Premiums are fixed for the first two years. All accidental death is immediately covered, but suicide is covered after two years.
With over 90 years' experience, AVBOB has reliably served South Africans and provided peace of mind to families for generations. With AVBOB, you get a lump-sum pay-out upon the death or disability of the insured. In addition, every five years you get 20% of the total premiums paid in a five-year period back. AVBOB also offers their insured free funeral benefits.
Members can even enjoy a free six-month premium reprieve in the case of retrenchment.
Known as the affordable insurance option in South Africa, Budget offers life insurance that is underwritten by 1Life Insurance Ltd. Premiums are calculated based on your age, lifestyle, gender, occupation, and health.
The top life insurance plan from Budget offers an option that allows the insured to increase their cover amount if their lifestyle changes. This plan also includes a terminal illness benefit that pays out if you are given 12 months or less to live.
Clientele believes in safeguarding your future with compassion. Their life insurance options vary but include a basic accidental death plan for only R210 per month and three more comprehensive options. You can get up to R10 million in cover from R250 per month with the Clientele Premium Life Plan. The premium plan includes a 100% pay-out when the insured is diagnosed with a terminal illness.
Each plan offers different optional added benefits, and all their plans are affordable. Optional added benefits you can get include accidental disability cover, the premium payback benefit, and optional additional cover for critical illness of up to R3 million.
Dialdirect wants to take the unsure out of insurance and offers their clients direct insurance, with no middleman. This means their plans are meant to be easy to understand, easy to purchase, and easy to maintain. Choose Pure Life insurance or get insurance that includes dread-disease or disability cover.
The Dialdirect Pure Life insurance plan offers you cover for your entire life of between R50,000 and R10 Million. The plan includes funeral cover and instant cover for accidental death. To get dread disease insurance, they require you to take an HIV test, but premiums remain the same for the first two years.
Get a life insurance plan from Different Life that is underwritten by Old Mutual Alternative Risk Transfer Ltd. Different Life wants to make a difference in the world, so you can donate your first payment every year to a charity of your choice! It won't cost you anything extra or affect your pay-out in any way.
Different Life partners with hippo.co.za to offer you the ability to get a free quote online and to complete the entire sign-up process online. Each Different Life policy is tailored to the needs of the insured person and to their lifestyle.
One of South Africa's leading insurance providers, Discovery has the capacity to offer many options and great benefits that you won't find with other insurance providers. People under 30 can get tailored protection to suit their lifestyles and budgets - you can even get insurance that pays out in US dollars. With nine life insurance plans on offer and the ability to diversify and optimise your cover, Discovery is sure to have something unique for you.
With exemplary claim records, paybacks, and the option to purchase Vitality and get rewarded for good lifestyle choices, Discovery life insurance makes insuring your financial future easy. You can get cover from as little as R100 a month as well as plans that cover disability, severe illness, income continuation, education, and more.
The first insurance designed specifically for women, First for Women provides insurance that empowers and supports the women in South Africa. First For Women thinks of life insurance as a gift to your family, whether it's for your kids, spouse or siblings.
You can choose pure life insurance, dread disease, disability, Expo-Sure, and all women dread disease cover. Your cover doesn't expire (it is lifelong) and you can add up to 10 beneficiaries. You can get up to R10 Million in cover, and access to added benefits unique to First For Women.
Offering tailored risk solutions and innovative approaches to life insurance, Guardrisk is a corporate insurer that focuses on cell captive insurance. This means their clients not only receive insurance coverage, but they actively take part in a shareholding agreement with Guardrisk. They offer short-term life insurance contracts with fixed terms as well as long-term life insurance contracts with and without fixed and guaranteed terms.
Guardrisk short-term life insurance plans offer cover for what they term 'claim events', meaning disability or death. They can also include funeral costs and group or credit policies. Their long-term plans offer cover for retirement, morbidity, and mortality. With fixed-term contracts you can choose from a shorter maturity period of up to five years for a single premium, or recurring premiums that mature in up to 40 years.
Being South Africa's largest privately owned insurance group, Hollard offers simplified and easy insurance solutions with great benefits. Choose their Quick and Easy Life Cover plan to get cover of up to R1.2 million with 20% cash back after five years.
You don't need to do any medical tests; however, Hollard offers 30% extra cover if you had an HIV test in the last year and the results were negative. Choose the "my life & more" plan to get life insurance and home insurance in one combined package. This plan is based on a personal financial needs analysis and comes with benefits like a December premium holiday. Meaning, Hollard won't collect premiums during December.
Instant Life insurance plans are underwritten by ABSA or Guardrisk and offer life insurance that is high quality and affordable. Choose from five life insurance offers, including life cover, accidental death cover, work disability cover, critical illness cover, and cancer insurance.
The life cover plan covers natural and accidental death, while the work disability plan offers cover in the event of you becoming disabled and no longer able to work. If you are diagnosed with cancer and need major intervention and treatment, the cancer life insurance cover option from Instant Life offers ideal cover.
The iWYZE Life policy is underwritten by Old Mutual Life Assurance Company (South Africa) Limited, a company established to offer financial security to South African's in uncertain times. iWyze aims to improve the lives of their customers and their communities while offering insurance that is easy to understand. With iWyze life insurance, you can get affordable premiums that are tailored to your needs and budget.
iWyze life insurance cover starts at R150,000 and goes to a maximum of R3 Million. Free HIV testing is included as a benefit anywhere in South Africa, while no extensive medical examinations are needed to get a policy with iWyze. For the first 23 months, your premiums will stay the same, and thereafter premiums will increase by only 5%. You can also add as many beneficiaries as you like as well as purchase additional benefits like terminal illness cover.
Liberty offers insurance solutions that include protection-based offers and investment-based solutions tailored for personal, family, or business benefits. Their offers include plans that cover disability, accidents, critical illness, funerals, income, medical costs, or a comprehensive solution.
You also have the option of investing as a means of covering your family and future financially if anything unforeseen should happen that you can no longer be there for them. The investment options include investing a lump-sum, investing regularly, investing for retirement, and investing to generate an income.
Established in 1897, Metropolitan has grown and expanded to offer South Africans insurance solutions to equip them to make sound financial decisions. Metropolitan's life insurance packages include a funeral cover option that can be customised to cover your family (of up to 20 people) for up to between R50,000 and R80,000.
Metropolitan offers a basic life cover option that gives you a pay-out of up to R500,000 and comprehensive life cover that covers you for up to R5 million. With the comprehensive plan, you can get 100% of your pay-out 12 months in advance if you are diagnosed with a terminal illness and doctors predict you have less than 12 months to live.
Experience life insurance reimagined with the MiWay 4-in-1 life insurance plan. For only one premium, you get comprehensive life insurance, accelerated funeral cover, funeral cover for family, and a terminal illness accelerator benefit. Cover will grow by 5% each year and provides a pay-out upon proof of death of the insured, whether accidental or by illness.
MiWay life policies are underwritten by Sanlam life insurance group. The 4-in-1 life insurance plan can offer funeral cover for yourself, your spouse, up to eight biological, adopted, or step children, four parents, and eight extended family members. Each person added does, however, affect your premium amount.
Through advice, support, innovative products, and quality service, Momentum aims to help you reach your financial dreams and safeguard your future. Their life insurance cover options include cover for disability, impairment, critical illness, income, and more.
Choose from their essential, extended, or comprehensive life insurance plans. With Momentum, you can enjoy the flexibility of tailoring benefits to suit your needs. Members of Momentum Multiply can also save up to 60% on their premiums along with cashbacks.
Offering a variety of financial solutions to corporate clients in 14 countries, Old Mutual offers premium financial services to benefit your future. You can enjoy immediate life cover even before your first premium is paid. Old Mutual commits to paying what they promise and can offer unrivalled peace of mind thanks to over 170 years of experience.
Old Mutual offers three life insurance solutions - Greenlight Life Cover, Old Mutual Life Plan Range, and Old Mutual Life Insurance. You can get cover of up to R3 million with an easy application and approval process.
"You always get something out" is OUTsurance's motto - a promise that clients can experience when they remain claim-free for a predetermined period. You can choose a comprehensive life insurance plan that includes death cover, disability cover, and critical illness cover, or you can choose to get each of these on their own.
OUTsurance calculates premiums based on your risk profile and risk factors in your lifestyle. Your premium is guaranteed for the first five years on OUTsurance life insurance. If your plan requires blood tests, OUTsurance will pay for them and can also send a nurse to your home. You can also choose fixed premiums or to increase your cover annually.
Multi-award-winning cover and a scope reaching across continents, Sanlam has the capacity to offer you tailored and broad solutions. You can get life insurance cover for up to R10 million. Enjoy convenient, cost-effect, and secure insurance with benefits like a free built-in wealth bonus and an immediate pay-out of R50,000 for expenses.
Sanlam offers flexible premiums that start at R100 per month and a once-off, tax-free pay-out to your beneficiaries when you pass away. The amount you will get as a pay-out will depend on the cover you choose. Sanlam helps you determine this amount by assessing your financial needs and helping you choose the best cover for you.
Known as a disruptive digital life company, Simply aims to offer life insurance to meet the needs of South Africans at a price they can afford. Secure the future of your family by ensuring the breadwinner in the home through Simply. Plans are underwritten by Old Mutual Alternative Risk Transfer Ltd for your peace of mind.
Plans include the Family Cover option, Domestic Cover, or Group Cover. Beneficiaries of a Simply life insurance plan can get a pay-out of up to R2 Million on the Family and Group Cover plans and up to R200,000 on the Domestic Cover plan. Beneficiaries also get R500 cash per month for six months after the passing of the insured to help with groceries.
Offering responsible insurance products and thoughtful service, Stangen aims to give you the tools you need to protect the ones you love. No medical exams and no waiting period. Stangen's life insurance policies take care of your bills and pay out up to R10 Million. Stangen considers your income when determining your pay-out and monthly premium.
You can opt to include an accelerated funeral add-on that prioritises speedy payment of up to R30,000 to cover funeral costs. A waiting period applies when increasing the cover amount, and suicides are not covered for the first two years. Some policies may require an HIV test.
There are a lot of life insurance companies to choose from in South Africa. Each company has a different offering and cost. With all these choices, it is possible to find a great deal where you save money and benefit from great coverage. The only problem is making those decisions takes time and effort, but not when you Hippo it. Use our life insurance comparison tool to find the best life insurance deal to suit your needs.
