The Best Life Insurance Companies In South Africa


Life insurance is an essential requirement since the dawn of the 21st century. Today, it is crucial to be insured for life or business to be eligible for various loans. This is a sign of how crucial life insurance is, and having one is a sign of how responsible you are. This article will focus on the companies we believe provide the highest quality life insurance available in South Africa.

1. Metropolitan Life Insurance

Metropolitan Life Insurance is among the lowest-priced insurance companies life insurance companies in South Africa and also caters to the most disadvantaged. There aren’t many life insurance companies that offer coverage for people with low incomes, however, Metropolitan is so good at it that you can obtain insurance coverage of R100,000.00 for low costs.

Metropolitan will also be catering to those who are wealthy and want to invest millions in their lives. It is also possible to add the protection of critical illness and disability in addition to life insurance. In case you need the combination of life and health insurance, Metropolitan will have you covered.


2. FNB Life Insurance

Also, it is affordable. FNB life insurance provides low-cost life insurance coverage for its customers. It is possible to bundle your life insurance policy along with critical illnesses, and/or disability insurance cover. If you’re looking to protect your income, you may also include an income protection plan.

The cover includes an R30,000 funeral benefit which will not cost you any additional premium. FNB keeps the longest-standing customers in the insurance industry for life within South Africa. It not only has its most loyal customers, but it is also the most excellent customer treatment within South Africa according to SA-CSI.


3. Discovery life insurance

Discovery Life offers the largest diversity of life insurance coverage that we have listed. It also has more benefits from Discovery. You can combine your life insurance policy with many advantages. You can include the standard life insurance bundles, such as Critical illness and disability, and income protection. Discovery Life goes further and adds benefits for the education of children, estate planning child protectors, estate planning, and many other benefits.

If you’re looking for a wide range of benefits to include in your life insurance policy, Discovery Life Insurance is the right choice for you. There is a lot of differentiation between the products and if you own at least one of the Discovery products, you’ll receive a discount on your premiums.


4. Momentum

Momentum Life Insurance is among the best and most flexible underwriting options on our list. Life insurance is well-known for its quick payouts on claims. In the financial year of 2019, Momentum life paid out R45 billion for death claims.


5. Sanlam

Sanlam Life Insurance is the second-oldest life insurance provider on our list only after Metropolitan. Experience is the key. Sanlam has the money to accomplish its goals and is the top life insurance company within Africa by revenue. If you’re in search of a reliable company, Sanlam is the right choice.

Sanlam provides one of the best life insurance policies that we have listed. The Sanlam Premier cover, you can protect your life for any amount that is greater than R5 Million.


6. 1life Insurance

1life provides three-tier life insurance coverage. They are designed for people with low life insurance requirements, as well as medium and large life insurance needs. You can avail of an insurance policy for life that covers as high as R10 Million with the 1life insurance. With your life insurance, you can include additional protection such as critical illness or disability coverages.


7. Old Mutual

Are you in search of life insurance that pays you in no time? Old Mutual pays within 48 hours of when you submit a claim. This is the fastest of our choices. In addition, when a policyholder passes, the cash up to R50,000.00 is accelerated to ensure that burial arrangements are put in place.


8. Liberty

Liberty Life offers life insurance that is simple and allows you to include unlimited beneficiaries on your cover. Life insurance cover is also be adapted as the policyholder can alter the amount of insurance they have at any time. To this cover, you can also add a disability cover, serious illness cover, and income protection.


9. Assupol

Assupol Life Insurance is a low-risk underwriting. Furthermore, the covers are inexpensive and target people with low incomes who live in South Africa. Monthly premiums rates start only R90 monthly.


10. Absa

You can purchase a life insurance cover from Absa in a matter of minutes. Absa offers fast life insurance solutions. Through their Absa Ultimate Protector insurance, you will not have to do any health checks and receive immediate cover. You can also get Critical illness cover and disability.

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