Budget life insurance is a recent offering from the insurance company better known for its motor vehicle insurance. Budget Life gets its expertise by sharing the resources and knowledge of its sister life companies under the Telesure Group. Budget Life has comparative life insurance quotes that reflect your eventual policy premiums.
Basic benefit life cover is the first of Budget’s life insurance products. With this, you can get up to R200,000 of life insurance, and as low as R50,000. These two lump sum amounts depend on your monthly premiums.
Elevated life insurance cover is the more premium option. Its cover starts at R200,000 to a maximum of R10,000,000. That’s a lot of money and you should expect to pay more premiums than on the Basic benefit option. Also, with the Assurability benefit, you can increase the amount of cover you require (at any time) to meet your changing lifestyle needs.
The only major difference between the two options is the amount of the total cover. While the two have many commonalities. These include the following –
With both the Basic and Elevated life insurance covers, you get –
Immediate cover for accidental death, and a two years’ waiting period for natural death or suicides.
Like other life insurance companies, Budget Life Insurance determines your life insurance premiums and the minimum amount of cover you need based on your risk profile. For example, a 24 year old can get up to R500,000 at just R86 in monthly premiums.
Both policies cover you should you incur a disability and/or get a critical illness.
R50,000 is paid out within 24 hours of your death to your family for funeral arrangements.
HIV/AIDS testing and treatment from accidental HI virus exposure, thus making Budget Life Insurance South Africa one of the first companies to extend full life insurance cover to HIV positive South Africans.
Budget Life Insurance Contact Details
0860 86 04 44
Life insurance terms explained easily – click here for more!