South Africans can get life insurance from Liberty if they want to protect their loved ones. It is an excellent way to protect your loved ones. But how can you get it?
Adults with dependents often find life insurance very useful. The life insurance is designed to ensure that their loved ones will be able to receive substantial payments if they are unable to work. You could leave a family without a breadwinner if you don’t have it.
How can you get life insurance today? Many companies, including Liberty Life Insurance, offer online portals for signing up.
We have found that talking to a broker can be a comforting experience for many reasons.
- They will help you to determine your needs.
- They will help you compare different covers.
- They will work with you to find the best cover for your budget.
To be able help you with your insurance needs, life insurance brokers must pass exams.
What type of life insurance can you get in South Africa
Life insurance in South Africa is simple. Your family receives the money, you just have to kick the bucket. It is, however, a bit more complicated than that. The benefits of life insurance, or more accurately whole life insurance, often include many different types and benefits.
Although some life insurance esteem increases with the extraordinary ascents, it is still very similar in other circumstances. It all depends on the type of coverage you choose and your personal circumstances.
Here are some common additions to life insurance
- Dread and Disability InsuranceThis cover covers you for a lump sum, or a portion thereof, in case of serious illness, accident, or disease. Amputation, stroke, or heart attack are just a few examples. However, this can vary from one policy to the next.
- Protection for Income LossThis cover pays a lump sum to you if you become incapacitated due to an accident, illness, or other similar circumstances. Your broker will help you understand the various criteria.
These add-on coverages can be a great help in the worst case scenario. These add-ons may increase your monthly premium but may save you money in the long-term. Talk to your broker for further information.
What Factors Affect the Price of your Life Insurance in South Africa?
The price of life insurance can be affected by many factors. These factors can range from your health to your lifestyle. Your insurance company will contact you to determine the risks that could affect your premium.
These are just a few of the many factors that can affect your premium.
- Smoker StatusThis is the obvious one. Smoking puts you at risk of a variety of diseases that could lead to your death. Life insurance companies want to see your health if a smoker.
- AgeRisk is higher for those who are older than you. Advisors recommend that you get insurance as soon as possible to take advantage the low premiums.
- Overall HealthA healthier lifestyle is better. Life insurance companies often send you to a medical to assess your health, including whether you have diabetes or obesity.
- Job/Work– Certain jobs are more risky than others. This will impact the cost of your insurance.
- Your lifestyle/ hobbiesIf you are passionate about adrenaline-pumping sports such as skydiving, it may be a good idea to apply. If you engage in these hobbies often, your premium may be affected. These factors can vary by insurance company and coverage option.
Get a free quote if you’re looking for life insurance, or considering it. Click here to speak to a broker!