Since 2005, AllLife Insurance has been proving life cover to South Africans at affordable premiums starting from as little as R130 per month. To this day, All Life Insurance prides itself as being the one life insurance company that has the foremost dedication to people living and/or affected by HIV/AIDS and other chronic diseases, more especially diabetes. Continue reading to learn more about AllLife’s life cover products and to compare some of the most comprehensive life cover quotes in South Africa.
Life Cover Options from All Life Insurance
AllLife Insurance offers 3 main life cover options, in the form of term life insurance and whole life insurance, and the AllLife Advantage Loan Protector.
The difference between term life cover and whole life cover is that the former offers you or your loved ones cover over a predefined period, for example 10 years from the time that you take the policy, whereas whole life cover insures you or your loved ones for the rest of your lives.
There are obviously benefits to either of these two long-term insurance types, but what is important is that you should have some form of long-term insurance cover, in the form of a comprehensive life insurance policy or a funeral insurance policy.
AllLife Term Life Insurance
As mentioned above, term life insurance has a specified duration to it. There are different instances as to why you should consider term life cover. For example, you may choose to buy this policy for your children, whom would (as working adults) then take on responsibility of the policy after its original tenure has expired. Another instance would be when a member of your family has a chronic illness and the diagnosis indicates that he or she has only a few years to live. This would mitigate any financial difficulty you and your family would otherwise have if you where without any form of life cover.
AllLife Whole Life Insurance
This product is a comprehensive life insurance cover that protects you for your entire life as long as it does not lapse. Consider that when you or a loved one dies, there may be some liabilities and other debts that are still owed which could make your beneficiaries liable for. By having a comprehensive life insurance policy, you can rest assured that whatever liabilities you have can claim on your life policy instead.
At most R10-million worth of life cover is available in AllLife’s products, which can cover everything from a funeral, education fees, disability, the loss of income (i.e. an income protection policy), debts as mentioned above, and much more.
AllLife Advantage Loan Protector
This is probably one of the most innovative products in South Africa’s insurance industry. The Advantage Loan Protector is designed specifically to cover any balance on a long-term loan such as a mortgage bond. Consider this example:
Say that your monthly premiums are R200, and your spouse and yourself have R500,000 outstanding on your home loan. Should he/she pass away, and is covered by the Advantage Loan Protector, you can claim from your policy to have the R500,000 paid up by AllLife. Therefore, this would absolve you of any of the outstanding liability. This product offers financial stability to any individual or household.
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AllLife Insurance’s main focus is on persons infected and affected by HIV/AIDS, diabetes and other chronic diseases. However, anyone can buy any of their life cover products. Consider AllLife as an alternative to other life insurance providers in South Africa.
AllLife Insurance Life Cover Contact Details
Call Centre: 0861 25 55 43