Platinum offers life insurance to South Africans who want to protect their loved ones. This is a great way to protect your loved one. How do you achieve it?
Life insurance is often very beneficial for adults with dependents. Life insurance is meant to provide financial support for their loved ones in the event they become disabled. If you don’t have life insurance, it could be difficult to provide for your family.
How do you get life insurance? Online registration is available by many companies, including Platinum Life Insurance. Talking to a broker can be a great way to get assistance for many reasons.
- They can help you determine your needs.
- These covers will allow you to compare the different options.
- They will work closely with you to find the best coverage for your budget.
Life insurance brokers must pass exams to be eligible to help clients with their insurance needs.
What type of life insurance can you get in South Africa
It’s easy to get life insurance in South Africa. If you are not there, your family will receive the money. This is a complicated situation. The benefits of whole life insurance (also known as life insurance) often include a range of benefits.
Some life insurance premiums rise while others stay the same. It all depends on the type of coverage that you have and your personal circumstances.
These are some of the most common additions to your life insurance policy:
- Dread and Disability Insurance This cover provides coverage for a lump amount or part thereof in the event of serious illness, accident or disease. These include heart attack, stroke, and amputation. This can differ from one policy to another.
- Protection against Income Loss This cover pays a lump amount to you in the event that you are incapacitated by an accident, illness or similar circumstance. Your broker can help you to understand the different criteria.
These add-ons may be of great assistance in the worst-case scenario. Although these add-ons can increase your monthly premium, they may also save you money over the long-term. For more information, speak to your broker.
What factors affect the price of your South African Life Insurance?
Many factors can affect the price of life insurance. These factors could include your lifestyle and your health. To determine if there are any risks to your premium, your insurance company will reach out to you.
These are just some of the many factors that could affect your premium.
- Smoker Status This is the obvious one. Smoking can put you at risk for a number of diseases that could cause your death. If you smoke, life insurance companies will want to know about your health.
- Risk For those older than you, the Age Risk ratio is higher. Advisors recommend you obtain insurance as soon as you can to benefit from the low premiums.
- Your overall health A healthier lifestyle is better. Many life insurance companies will send you to a doctor to evaluate your health.
- Jobs/Work Some jobs are more dangerous than others. This can impact the price of your insurance.
- Your lifestyle/ Hobbies If you’re passionate about adrenaline-pumping activities like skydiving, applying may be a good idea. Your premium could be affected if you are involved in these hobbies frequently. These factors may vary depending on the insurance company and coverage option.
Click here to have a financial advisor reach out to you.