Life insurance in South Africa – the one thing we all need but hope we never have to use. It's like that annoying friend who always wants to hang out but you're secretly grateful for when they bail last minute. In South Africa, we have a plethora of life insurers to choose from, but let's be honest, most of them are as exciting as watching paint dry. So, what should you look for in the "best" life insurance company in South Africa? Let's find out, shall we?
Firstly, affordability. You want an insurer that won't break the bank. It's like online shopping, you want to find the best deal without compromising on quality. And let's be real; life insurance premiums aren't exactly a fun expense. We use smart tech and some world-first AI so we can offer the cheapest premium for the best coverage. I mean we can give you a quote quicker than you can order a pizza on Mr. D See for yourself right now https://www.onespark.co.za/life/quote/quick.
Secondly, range of products. Good life insurers offer a variety of products that cater to different needs and budgets. But the best life insurers also focus on value- great cover at the most affordable premiums. With OneSpark, we not only offer a full range of comprehensive Life insurance products, from Life Cover to Disability Cover to Funeral Cover and so much more, but because we use smart tech and powerful AI our premiums are also 50% cheaper than the market!
Thirdly, customer service. You want an insurer that's easy to contact and responsive to your needs. It's like choosing a partner; you want someone who's there for you and won't leave you with blue ticks on WhatsApp. Bonus points if they also bring you coffee in bed. There's a reason our Google reviews are (almost) perfect, we're here for you day and night, online or on a call, by yourself or with an advisor. We've got you covered no matter where, when, or how.
Fourthly, Trust. Trust in South Africa is important in choosing a life insurance company because, let's face it, life insurers haven’t always had their customers backs. That’s why we changed life insurance from a product where the insurer makes more profits when they decline your claims to a product where we simply take a small fee to manage your policy, pay out all claims in times of need and then give back everything that’s left. This means we actually want to pay you out. We are on your side! It's a win-win. With over 40 000 policies sold, tens of thousands of lives insured, and billions issued every month, you know OneSpark is a company you can trust.
Fifthly, Stability. You want an insurer that's financially stable. You don't want to be left high and dry (literally, if you're drowning in debt) when you need them the most. That’s why OneSpark has life insurance giants in our corner who back your coverage. We are underwritten by Guardrisk Life Limited, a licensed life insurer that has almost 30 years of life insurance experience. Guardrisk is part of the Momentum Metropolitan Holdings company which has over 18 000 employees and has been around since 1966 in South Africa. That’s big, really big.
Last but not least, flexibility. Your financial needs, just like your Saturday night plans, are constantly changing, so you want a policy and an insurer that's adaptable. OneSpark offers some of the most flexible and personalized cover in South Africa, which changes automatically based on your age, occupation, family make-up, and 20+ other factors! Gone are the days of one size fits all policies (thank goodness), and hello, AI-powered life insurance of the future.
In conclusion, choosing the "best" life insurance company in South Africa may not be the most thrilling task, but it's essential for peace of mind. Look for a financially stable company with a range of products, affordable premiums, excellent customer service, transparency, personalized coverage and flexibility. We don’t want to boast (ok, maybe do) but we could tick all the boxes. And who knows, maybe one day, at OneSpark, we'll be able to add "entertaining" to that list too.
Check out https://www.onespark.co.za/ for more information and to see why picking the best life insurance company in South Africa is easier than you think!