1Life is one of South Africa’s leaders in life and death cover insurance providers, offering affordable and convenient policies for individuals and families. 1Life is famous for having a simple and speedy application process that allows clients to buy coverage without medical tests. 1Life covers you completely by offering financial support to your loved ones in need. Members can cover up to 16 relatives, including spouses and children, with cover ranging to a maximum of R50,000 per person.
How to Claim
Claiming on your 1Life Insurance is easy and is designed to provide financial assistance quickly. First, notify your insurer of your policyholder’s death through your call centre or online capability. You will be requested to provide necessary documents, including a death certificate, identification, and any other records your insurer may request. If death is caused by accidental means, you may be required to provide a police report.
Upon receiving the documents required, 1Life settles the claim. Genuine claims for life cover can be processed and settled in 24 business hours when there are no documentation hurdles. Where there are complications, such as no documentation or ambiguous causes of death, verification would take longer.
How Much Is 1Life Funeral Cover Per Month?
The premium for the 1Life funeral cover depends on how old you are, the cover amount to buy, and the family size to cover with the policy. Every attempt is made to keep the premium as low as possible and affordable for many South Africans. A man aged 25 can comfortably buy R15,000 cover for about R99.63 per month, and including spouses and two children, can get a premium of about R118.98 monthly.
The same R15,000 cover is available for a 35-year-old female for approximately R109.18 per month, with the option to add on her spouse for R23.31 per month. A female aged 45 can pay approximately R105.40 per month with the option to add on a spouse and four children for R37.93.
Who Is the Underwriter for 1Life in South Africa?
1Life Insurance is conducted under the financial strength and regulation of 1Life Insurance Limited and is registered as a financial services provider in South Africa. It is licensed to do business to provide life and burial cover and adheres to all the industry stipulations.
In his position as underwriter for 1Life Insurance Limited, he assesses and quotes conditions for policies to ensure that clients are appropriately charged for cover levels that are right for them. Compliance by the company with statutory requirements assures policyholders that claims will be honoured in terms of practice in the industry.
How Long Does 1Life Take to Pay Out?
1The Life Insurance company is famous for promptly settling claims for policies for which all documents are submitted without difficulty. A genuine claim on a life insurance policy can be settled with a turnaround time of 24 business hours so that the amount is received by the beneficiaries without wasting time. However, processing time is influenced by the completeness of paperwork and individual claim circumstances. Additional verification can take weeks. Processing is typically done quickly for funeral claims because these are urgently needed to cover burial costs.
How Do I Check My 1Life Policy Status?
1Life Insurance can be accessed by policyholders through a secure online portal. One can use this facility by logging on with a one-time password (OTP to the registered mobile number). This portal provides policy-related information like coverage amount, premiums paid, and nominees.
In addition to internet browsing, policyholders can contact 1Life’s customer support centre and request policy information. A representative can provide information on coverage, premium amount, or policy changes.
What Is the Maximum Funeral Payment?
1Life funeral cover covers each individual up to a maximum amount of R50,000 to ensure that families do not get financially strained to cover costs for mortuaries. The cover is for two spouses and children up to age 21 and a maximum of 16 family members. Larger families can cover additional extended family members to protect them financially.
In addition to the regular benefit payment, death policies have other benefits. A memorial benefit pays an additional amount of R5,000 to beneficiaries after twelve months of a settled claim to be used in paying for a headstone. There is a grocery fund benefit that pays out R1,000 per month for six months on the death of the principal policyholder to cover immediate living expenses. There is also a repatriation benefit of R2,000 to cover transportation charges in case of transporting the deceased for burial.
Final Thoughts
1Life Insurance offers South Africans a cheap and reliable means of death and lifestyle cover. By having easy application, quick settlement of claims, and simple policy management, it is a convenient choice for those individuals and families that need financial cover. Paying for multiple family members on a single cover is a great advantage that it offers to anyone who would like to ensure that his or her loved ones are financially covered.
