Interesting articles about insurance

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TOP 3 South African Life Insurance Companies for the best Insurance Products

Budget Life Insurance: Basic Life Cover

Basic Life Cover is an adequate Life Insurance package that everyone can afford. Your Basic Life Cover product includes:

Payment between R50 000 and R200 000 to beneficiaries of your choice in the event of your death

Funeral benefit up to R50 000 paid after beneficiaries 48 hours after a valid claim has been submitted

Terminal Illness Benefit is included (Cover amount will be paid out if you are diagnosed as terminally ill with a life expectancy of less than 12 months)

Cover for death due to natural causes after 2 years

While your policy is active, the cover amount will not decrease

You are covered for your whole life

You are covered for accidental death immediately

You are covered for suicide after the first 2 years

You get acces to Exspo-Sure (confidential HIV testing & treatment program)

Speak to one of our professionals about Elevated Life Cover and tailor your Life Insurance package exactly to your own needs.

Call Budget Insurance on 0860 10 44 00 for excellent cover and low, low premiums today.

1st for Women

Why choose 1st for Women for Life Insurance?

Because 1st for Women understands the unique needs of any woman we offer you:

• No paperwork – purchase this policy with a simple telephone call in less than 20 minutes

• We supply up to R10 million life cover at an affordable premium

• You will be covered throughout your life

• Up to 10 beneficiaries allowed

• No fluctuation of premiums during the first two years

• We even cover suicide after the first two years

• No decrease of cover while your policy is active

• Add disablement and dread disease cover without reducing your life cover should you make a claim

• Life cover will be paid out should you obtain terminal illness with life expectancy of less than a year, before death

• You may qualify to increase your cover amount without the need for further underwriting

• You’ll have a choice between Basic or Elevated cover

• Tailor the policy to your needs and choice by adding value added products

Call 1st for Women on 0860 10 43 99 for the best in Life Insurance packages right now!

Dial Direct

Dial Direct Life Insurance Products available to you:

Pure Life Insurance

Your Pure Life Insurance provides you with a range of options that allow you to cover your life for up tp R10 million. This amount will be paid out to your nominated beneficiary or beneficiaries in the unfortunate event of your passing away.
Occupation-based Disablement Insurance

This product provides you with adequate financial compensation in the event that you are injured at work and become medically unfit and physically unable to continue your normal occupation or anything else suitable in your circumstances.
Event-based Disablement Insurance

This cover provides you with compensation should you become disabled due to a specific event that caused the disability.
Dread Disease Insurance

You are provided with cover if you are diagnosed with a terminal illness.

Expo-sure

Contact us today for more detailed information and speak to one of our professional consultants about Life Insurance that suits your individual needs and budget.

Call us on 0860 10 45 80 for your free Life Insurance quote today.

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Don’t drink and drive

The Top 10 reasons why Car Insurance does not pay out

According to the Ombudsman for Short Term Insurance, the following instances reflect the Top 10 reasons why  car insurance claims are rejected:

Why Car Insurance Claims are rejected:

1 DUI or Driving under the influence

Claims of drivers that were involved in an accident while under the influence of alcohol are summarily rejected.

2 Unlicensed driver

Claims of unlicensed drivers are not paid out.

3 Reckless Driving

The term reckless driving includes speeding, violation of road traffic regulations, high-risk driving and careless driving. If proof exists that the policyholder was guilty of any of the aforementioned traffic violations, the claim could be thrown out.

4 Driver not the “Designated” or “Regular” driver

If the designated or regular driver, as specified in the car insurance policy, was not the driver at the time of the accident, the claim may be rejected. Numerous claims have been declined because of this reason. Insurance Providers state that policyholders tend to specify themselves as the regular driver, instead of the younger driver who actually drives the car most of the time. The main reason is that younger drivers pay higher insurance premiums.

5 Vehicle  not roadworthy at time of accident

The Insurance Provider will conduct an investigation regarding the state of the car and if a vehicle is found to have been not roadworthy at the time of the accident, the claim will be rejected.

The following may cause a vehicle to be classified as not roadworthy:

• Faulty steering and steering gear

• Defective brakes and braking systems

• Tyres without enough tread

• Faulty exhaust systems

• Seatbelts and seatbelt anchorages not working

• General condition of car does not comply with roadworthy standards (corrosion, suspension etc)

6 Vehicle inspection

Most Insurance Providers require an inspection of a vehicle before the policy is activated. This is to satisfy the Insurer that pre-existing damage to the car in question is not claimed for later. If the car was not inspected, the Insurance Provider may reject the claim.

7 Private vehicle used for business

Insurance Providers specifically ask whether the vehicle will be usd for social and domestic purposes or for business. Non-disclosure of the fact that your car may be used for business purposes may result in rejection of your claim.

8 Non-secure overnight parking

If the Insurance Provider was under the impression that your car will be parked in a locked garage at night and it was stolen or damaged whilst being parked out on the street, chances are that your claim will be denied.

9 Unsatisfactory security precautions

A number of Insurance Providers insist that vehicles certain should be fitted with a specified security device. Your car insurance claim may be rejected if you did not comply to this specification.

10 Not covered by policy

A number of claims are rejected because the policyholder was under the impression that he was covered for something when in fact the policy states otherwise.

Tip: Read your policy through carefully and be aware of any exclusions. Study the Terms and Conditions and ensure that your car insurance is paid up to date.

 

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Do some research before choosing an insurance company.

 

 

 

 

 

 

Insurance companies range from industry giants to small companies. So once you’ve made the decision to purchase a policy, how do you know if the company you choose is the right one. 

Here are some tips to help you choose:

Doing some homework.

You want to be sure you can rely on the company you choose. Even though insurance companies are required by law to maintain large reserves to guarantee they can meet their future obligations, it’s always smart to do some homework before making a choice.

Check out a company’s ratings.

Several companies conduct financial analyses of insurance companies and their reports can be accessed online. Remember that a company’s rating is just one of several factors to look at before making a choice. Don’t automatically assume you should buy from the higher-rated company. If the policy from another company has more of the features you’re looking for, it might be the better choice.

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Insurance companies can be contacted online or via telephone

 

 

 

 

 

 

Does size matter in your choice?

Most of the largest insurance companies have been in business for decades. When a company has been in business that long, you can be fairly certain that it understands the complexities of the insurance business, knows how to manage risk and grow assets, and has a history meeting long-term financial obligations. It will be a good choice, but many small companies have also been around for a long time.

Seek assistance from an insurance professional.

Most people buy life insurance through agents or brokers, and for good reason: Determining how much and what kind of insurance to buy is one of the most important financial decisions you’ll ever make, but it’s also one of the most complicated. A qualified insurance professional will conduct a thorough insurance needs analysis and provide you with policy and choice of company recommendations that are based not just on knowledge of company ratings, but on personal dealings with the companies.

The Bottom Line.

The “right company” for you to choose, is the one that provides you with appropriate recommendations, products and prices, has a record of outstanding customer service, and the financial capacity to meet its financial obligations to you and your beneficiaries when they come due.

 

Ref.: www.lifehappens.org/tips-for-choosing-the-right-insurance-company/

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