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Choosing between some of the best Life Insurance providers in South Africa

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We think about our family all the time. Through good times and bad, they are the reason we get up every day and go to work, because we want to provide them with the best lives possible. Yet we don’t often think about what their lives might be like after we’ve gone, and unfortunately death is a destination as much as life is a joyful journey.

When you’re gone, will there be enough left?

Realistically, if you passed away tomorrow, would your household still be able to run as normal? Could school fees, medical aid, groceries, home loans and all their other life necessities be covered to ensure your family could keep living normally? While dealing with the grief of losing you on top of that?

What is Life Insurance?

Also known as "life cover", Life Insurance is a policy taken out that pays out to your chosen beneficiaries when you pass away. The payout is designed to cover the cost of living for your loved ones and to keep them financially stable after you’re gone. Although death isn’t something we like to think about, see life insurance as a comforting and responsible way to look after those you care about most once you’ve departed for good.

Why get Life Insurance?

Simple answer? Because while your life ends, life expenses for your family don't.

If you’re the breadwinner (or one of two), your salary is the lifeblood of your home. It quietly does a lot behind the scenes. It takes care of necessary debit orders, day-to-day expenditure and occasional luxuries, and we can come to take that monthly money for granted. Unfortunately, those expenses don’t care that you’re no longer around. They will continue and someone will have to pay for them.

Life Insurance isn’t only about spouses and kids. Plenty of South Africans support parents, siblings, extended family, or have an entire household that relies on one steady income. If your money keeps other people afloat, life cover becomes less of a “nice-to-have” and more of a financial “must-do”.

On hippo.co.za you can compare 12 top Life Insurance companies’ quotes side-by-side in minutes.

Don’t leave your estate in a state

You may leave assets like a car, a home and other investments behind, but that doesn’t automatically mean your family and dependents will have cash flow when they need it most and on top of their grief. This is the last thing anyone wants.

A deceased estate is not a simple matter. The Master of the High Court notes that an estate must be reported within 14 days of death and that where the value exceeds R250,000, letters of executorship must be issued and the full process followed. This means there is a ton of admin and paperwork to complete, which all takes time. And money.

Meanwhile, real life keeps costing real money, and if there’s no access to it, things can get tricky for your family quickly. So instead of leaving them forced to make rushed decisions, a life insurance policy can be the bucks buffer they need while everything else is settled.

Life Insurance Companies in South Africa

Below is a table showing what you can expect from top companies affiliated with Hippo around SA who offer a life insurance product.

How Hippo helps

When it comes to finding not just the best deal, but the best value across a wide range of products and services, hippo.co.za is where you can compare 12 competitive Life Insurance quotes side-by-side in minutes to help inform the best decision you’ll make for your family.

What to look for when comparing Life Insurance

When you compare policies , focus on the basics:

Would it realistically cover the big costs (bond, schooling, monthly living expenses) for a period of time?
What can you comfortably afford long-term?
Make sure you understand any limitations and read the fine print.
Update them as often as you need to. Life changes, and forms you filled in years ago might not contain the same people you’d want as beneficiaries.
If a policy is payable directly to a beneficiary, SARS notes that the estate duty attributable to that policy is payable by the beneficiary (where applicable). If this feels unclear, it’s worth getting professional advice.

Where Hippo comes in

Comparing Life Insurance doesn’t have to become time-consuming – life is short enough as is. When it comes to finding not just the best deal, but the best value across a wide range of products and services, hippo.co.za is where you can compare 12 competitive Life Insurance quotes side-by-side in minutes to help inform the best decision you’ll make for your family.

Handle it once, properly, and get back to doing you, knowing the people who rely on you won’t have to figure everything out at the worst possible time.