Have peace of mind knowing that your loved ones will not have to struggle when you are no longer able to provide for them. An essential part of financial planning is creating provisions for your family following your death, and the BetterLife Protection policy can help you do so.
BetterLife Protection policy
Your house is probably one of the biggest investments you’ll ever make. This is why it is so important to ensure that your family doesn’t lose your home should something happen to you. The BetterLife Protection policy offers you that all-important cover for your bond, up to R2.2 million.
This policy offers the following benefits for the main insured or second insured (co-applicant of the bond):
- Death Cover – this benefit pays out a lump sum in the event of death.
- Optional Permanent Disability – lump sum payment to settle your bond in the event of total and permanent disability.
- Optional Temporary Disability – The Temporary Disability benefit provides a monthly payment equal to 1.2644% of the insured person’s permanent disability sum assured, should an insured person covered by this benefit suffer a Temporary Disability during the period of insurance, for up to nine months in the event of temporary disability, preventing you from earning your normal income.
- Optional Dread Disease – lump sum payment on diagnosis of a dread disease from our predefined list.
- Optional Retrenchment – provides a monthly payment equal to 1.2644% of the insured person’s death benefit sum assured, should an insured person covered by this benefit be retrenched during the period of insurance for a maximum of six monthly payments during any five-year period.
*All insurance products are offered by BetterLife Distribution Services Proprietary Limited, an authorised financial services provider (FSP Licence No. 24015). BetterLife Protection Policies are underwritten by Old Mutual Alternative Risk Transfer Limited, a registered long-term insurer, and administered by IUA Business Solutions (Pty) Ltd, an authorised financial services provider (FSP No. 15737). Short-term policies are underwritten and administered by Auto & General Insurance Company Limited, an authorised financial services provider (FSP Licence No. 16354).