Have you heard about the Absa instant life insurance in South Africa? Do you know how it operates? Read through this guide to learn about it.
This is a new generation insurance cover that offers high-quality insurance cover and products while still saving you money on your insurance cost.
The insurance covers accidental and natural death, critical illnesses, and disability.
We will first show you the benefits of this cover.
What Are The Benefits Of Absa Instant Life Insurance
There is no waiting period when an insured event occurs, meaning you will get compensated within 72 hours.
You have the flexibility to choose the cover you want from a range of tailored products.
You can manage this policy online through the Absa Activate App.
You can change beneficiaries any time you wish.
You can increase or decrease the cover limits at your leisure and without penalties.
These are the benefits of the instant life insurance in South Africa.
Absa Instant Life Insurance
You have to be 20 to 65 years old to get this cover.
This insurance can cover up to R6 million.
You get 20% cashback every ten years and an optional annual benefit increase of 5% to help keep pace with inflation.
With this cover, you get paid cash for up to 12 months before death in the case of a terminal illness.
The work disability insurance covers up to R4.5 million, and the critical illness covers up to R3 million.
If you are diagnosed with covid-19, the claim will be covered subject to the general terms and conditions.
You can get back your first three life cover premiums after 6months if you have an Absa transaction account and you have registered for Absa digital banking.
This is how instant life insurance works in South Africa.
How To Apply For The Instant Policy In South Africa
We will now show you how you can apply for this cover.
You can visit any Absa insurance company near you to apply for this cover.
You can reach out to Absa instant life through 0860 000 072, and you will be guided on how to apply for the insurance.
This is all you need to know about the Absa instant life insurance in South Africa.