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Sunday lunch at our house probably has a completely different feel to when you sit down with your family and share a meal. And that’s fine because every family is kind of whacky, wonderful and weird all at the same time, right?

The word “family” has been around since the fifteenth century, but now more than ever it comes with a whole bunch of complexity and a real degree of “Hey, we’re the Khumalo’s, Naidoos or Smiths from Johannesburg”. We know we don’t fit into a specific box, but we hope you like us anyway.”

More and more we understand the fact that no two South African families are the same.

And that should include insurance companies.

Does your existing insurance cover feel like a square peg stuck in a round hole?

We understand the constant juggling act and balancing of different priorities that are inherent in raising a family.  That’s why Old Mutual has used their 175 years’ experience of helping families navigate life pressures to rethink how they can support you in ensuring that your family’s security and growth continues through life’s uncertainties.

Fun fact

Twenty years ago, Old Mutual launched a product called Greenlight which replaced a life insurance product that had been in place for two decades before that.

So, that’s two life insurance product launches in the last 40 odd years.

We understand that life insurance product launches aren’t right on top of your most Googled search terms in the last year, but the new Old Mutual Personal Cover is important for a couple of reasons:

  • significant improvements have been made to old terms like “life cover”,
  • the new product range is super-flexible and easy to build and change,
  • it’s affordable and still comprehensive and
  • it can fit any family dynamic.

This major insurance concept change has lots to talk about in the following categories:

Life Insurance

Life Insurance is absolutely vital when you have people that depend on you for financial support. It helps your family to maintain their lifestyle and helps secure the best possible future for your children when you’re no longer around. You can select your pay-out as a single amount or monthly payments when you die. This can go toward living expenses, education costs, paying off debt and building your assets (e.g. paying off a home loan).

Disability Insurance

Your income allows you to provide for your family and save for your children’s future, but disability, severe illness and injuries can happen at any time. If it happens, you may need to stop working for a while, or even permanently. The last thing you want to worry about at a time like this is money. You can select your pay-out to be a single amount or monthly payments for replacing lost income, paying debt, ongoing expenses like caregivers and ongoing treatment, reinvesting to use in the future and more.

Illness Insurance

Even though you’re young and super healthy, you’re still at risk of getting a severe illness like cancer, having a heart attack or stroke. This won’t just impact your life, but your loved ones’ lives too. This is available as a single pay-out for the costs of alternative treatments, travel costs to your doctor or hospital, the cost of a caregiver, paying debt and more.

Funeral Insurance

If a loved one dies, you may have to cover their funeral and other costs which can set you back financially, especially if you have a tight monthly budget. You also don’t want your family to worry about costs when you die. This is available as a single pay-out for costs like undertaker fees, a coffin, venue and tent hire, transport and more.

Future Insurance

As your health changes when you get older, your cover will become more expensive. Old Mutual Future Insurance allows you to lock in your current state of health to use in the future to get additional cover without going for medical tests. Over the next six months, we are going to be rolling out a host of articles for you, showcasing all the features and benefits of the new life insurance product from Old Mutual.

Why should you stay tuned?

Your family is relying on you to make big financial decisions. Taking out life, disability, critical illness and salary protection cover is important, so arm yourself with the information to make the right choice.

 

The InsuranceFundi Team

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