Get more Mail & Guardian
Subscribe or Login

1Lifedirect lets you buy life insurance on your cellphone

It may seem strange to buy life insurance on your cellphone, but this is precisely what you can do with 1Lifedirect, which is offering whole life cover up to R500 000. With cellphones providing access to just about everything these days, why not life insurance?

1Life says its clients can view and make changes to their policies on their phones, too, using special technology that provides an interactive user experience. The nice thing is that life cover is available to all South Africans with a phone that has WAP access.

But don’t think you have to settle for a one-size-fits-all package — you still have to complete four lifestyle questions and six medical questions during the online application process. Of course, if you’re not honest upfront, you’ll face the usual problems later — claims won’t be processed and so on.

Because you’re taking a “short cut” to insurance, without having to fill in application forms, don’t assume that the process has loopholes in it. Lifestyle and risk factors still play a role in determining what cover you will be eligible for.

The advantages are simplicity, convenience and personal control, according to 1Lifedirect’s CEO, Anton de Souza, who suggests that insurance could well be purchased by using a cellphone by choice in the future. But traditional concerns remain. What happens once you’ve purchased the insurance and you have queries? Can you follow up with the company?

According to de Souza, the existing 1Lifedirect call centre is available to help clients take up and administer their policies, as well as make changes if necessary. Also, existing clients can use their cellphones to do so, by dialling #120#101#.

“We developed two mobile life insurance solutions. The first one allows clients to buy a policy and the second allows clients to administer their policy,” says de Souza.

You can visit the mobisite and click on “Buy now” to take up a policy: www.1Lifedirect.co.za/mobi.

The life insurance cover available on your cellphone pays out up to R500 000 to a nominated beneficiary should you die. It also covers accidental death immediately and includes terminal illness cover.

In addition, it pays out up to R25 000 of your life cover amount as a funeral benefit within 48 hours of submitting a claim.

As with any policy, though, make sure you find out exactly what is and isn’t covered and under what circumstances the policy may not pay out. Ask questions. If you are looking for pure life cover that you can administer yourself, this product certainly seems appealing.

* As with any life insurance product, you get what you pay for and you should always consider your particular individual needs before purchasing a policy. Keep these guidelines in mind before going ahead.

Read more news, blogs, tips and Q&As in our Smart Money section. Post questions on the site for independent and researched information

Subscribe to the M&G

Thanks for enjoying the Mail & Guardian, we’re proud of our 36 year history, throughout which we have delivered to readers the most important, unbiased stories in South Africa. Good journalism costs, though, and right from our very first edition we’ve relied on reader subscriptions to protect our independence.

Digital subscribers get access to all of our award-winning journalism, including premium features, as well as exclusive events, newsletters, webinars and the cryptic crossword. Click here to find out how to join them.

Related stories

WELCOME TO YOUR M&G

If you’re reading this, you clearly have great taste

If you haven’t already, you can subscribe to the Mail & Guardian for less than the cost of a cup of coffee a week, and get more great reads.

Already a subscriber? Sign in here

Advertising

Subscribers only

Mbeki tells ANC that land without compensation goes against the...

‘This would be a very serious disincentive to investment,’ says Thabo Mbeki in a document arguing that the ANC should not proceed with the Constitutional amendment of section 25

Micro-hydropower lights up an Eastern Cape village

There is hidden potential for small hydropower plants in South Africa

More top stories

Abattoir compliance for game meat will kill Eastern Cape industry,...

Last month, the department of agriculture issued a notice saying that the slaughter and dressing of game meat at any place other than an abattoir was prohibited, and that those not complying could be fined or imprisoned

Gauteng health system is heading for catastrophe

While officials remain entangled in bureaucratic knots, clinicians warn that the continued closure of the Charlotte Maxeke Johannesburg Academic Hospital risks a ‘humanitarian disaster’

Entrepreneurship will save South Africa’s youth

Complaining about ‘reverse racism’ and BEE serves no one. South Africa’s white youth should focus on entrepreneurship instead

Union calls on government to nationalise ‘profit-driven’ Clover

The dairy’s Lichtenburg factory, which is being closed due to service delivery issues, employs about 380 permanent and 40 temporary workers
Advertising

press releases

Loading latest Press Releases…
×