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Prosperity Life Insurance is South Africa’s first black-owned life insurance company.
The company was founded in 1951 by a group of Transkei businesspeople who wanted to provide low-cost insurance to black people and thereby generate funds for community development and business development.
Assupol Life Insurance purchased Prosperity Life Insurance in 2004 and has since grown to become a prominent provider of burial insurance to the lower-income sector.
Assupol owns the Prosperity trademark.
This opened the door for the full and complete integration of Prosperity Life’s operations with Assupol Life.
Assupol Prosperity Products
Prosperity Life Insurance provides a complete selection of life insurance options designed to safeguard you financially in the event of a catastrophic illness, incapacity, or death.
Prosperity Life Insurance provides the following options:
Progress Legacy Plan
When the policyholder of this plan dies, this type of coverage pays out a lump sum payment.
The Progress Legacy Plan offers whole-life coverage with no medical underwriting.
Premiums are fixed for the first five years after the policy is issued, after which they will be revised by no more than 15%.
The Progress Legacy Plan is tailored to your risk management requirements, with the option of voluntarily increasing premiums by up to 20% each year to account for key life events.
Progress Accident Plan
The Prosperity Life Insurance Progress Accident Plan would give a cash payout if the Main Life Assured experiences physical impairment or accidental death.
The compensation percentages for the Physical Impairment Benefit and Accidental Death vary based on the severity of the claim occurrence.
Premiums are fixed for five years from the date of policy initiation, following which they will be reviewed by no more than 15%.
Progress 4Sure Plan
Prosperity Life Insurance offers dread illness, disability, and life insurance with modest underwriting criteria.
On the death of the Main Life Assured, the Progress 4Sure Plans feature a lump-sum death payment of between R50 000 and R200 000.
All Progress 4Sure plans offer an automatic Mail Life Funeral Benefit of up to 10% of the Main Life Assured value, maximum at R10 000, payable on death.
Every Progress 4Sure Plan includes an optional Spouse Funeral Benefit of up to 10% of the Main Life Assured value, maximum at R10,000, payable upon death.
All Progress 4Sure plans provide an optional Funeral Benefit that covers the Main Life Assured’s dependents.
This protection is limited to R10,000, or 10% of the Main Life Assured amount.
When a terminal disease is diagnosed, a Terminal Illness Benefit of 95% of the Main Life Assured total is given to the Main Life Assured.
Physical Disability Benefit is provided if the Main Life Assured loses the use of their limbs or suffers from any other physical handicap.
When a dread disease, such as cancer, stroke, or heart disease, is diagnosed, the Dread Disease Benefit is given to the Main Life Assured.
Prosperity Life Insurance offers the Zimele product line, which is designed to meet the needs of low-income customers.
Assupol Prosperity Contact Details
If you have any questions regarding Assupol prosperity, you can make contact through the following options.
Via phone call
You can make a call inquiring about Assupol prosperity through dialing 0861 235 664
You can also send an email if you would like to contact Assupol prosperity at email@example.com.