to compare rates and find one that is specifically made for you even if you want life insurance for over 50s, 60s or what ever year. So whether you live in Claremont, Sandton, Randburg, Johannesburg, Durban, Pinetown, Parow, Pretoria, Bellville, Cape Town, South Africa or any part of our beautiful country - do take a few minutes reading up the insightful contents of this page and then make an informed decision.
How much does life insurance cost?
So what is the average price of life insurance in South Africa? There are many different life insurance rates in South Africa. These are segmented based on various determinants e.g. income, occupation, marital status, level of education, health and age. For example, you can find specific life insurance for over 50s, and for people living with HIV or any other illness.
So when you want to know how much does life insurance cost or rather you want to know some life insurance rates, you must be ready to provide some personal information so the insurance company can generate a custom insurance quote for you. Otherwise it is hard to say exactly how much it is because the prices change to quickly and they are customized to suite earch individual - a premium is particular to an individual's circumstances. . We can only recommend visiting at least one of the life insurance companies to request a free instant life insurance quote online.
Life insurance quote
A life insurance quote is easy to find online. It is unlike the olden days where you had to hire an agent to contact numerous insurance companies in South Africa and charge you for their services whether you choose any of their recommended life insurance companies or note. There are many website offering free life insurance quotes and there is absolutely no need to pay for a life insurance quote. Below we present some of the recommended insurance companies that you can go to in order to find a free life insurance quote - without any hassle.
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Term life insurance
A term life insurance is a life insurance that is usually cheaper from the others. It is by far the least expensive option of all of the different types of life insurance available in South Africa. It is also not permanent and only covers loss of life and does not have any kind of an investment component attached to it.
Note that there is a whole life and term life insurance policy. These two vary based on the coverage period. For example, a permanent or whole life insurance policy South Africa has to offer covers a person for a lifetime just as long as the terms of the contracts are still adhered to.
Unlike the term life insurance, you can consider the whole life insurance an investment for the policyholder. The Whole Life insurance Cover does not expire until the policy holder dies or when she decides to surrender the policy. The insurance premium is invested by the South African insurance company and as a South African life insurance holder you can borrow against the policy as soon as it has some cash value.
Life insurance companies
There are more than 100 life insurance companies in South Africa. Some of these include, AIG South Africa, Dial Direct Insurance Company, Alexander Forbes Insurance Company, Hollard Insurance Company, Santam, Mutual & Federal Insurance Company, Outsurance Insurance Company, ABSA Insurance to name just a few.
