Life Insurance 101

Life Insurance shouldn’t be complicated.

But in today’s competitive markets there are so many options to choose from.

At Different Life we’ve tried to make insurance products as easy to understand as possible. So If you are currently considering any long-term insurance products we have developed these pages to help you through the process.

So where to begin?

Below is our easy to use insurance calculator, why not try it to get a sense of what your long term insurance needs might be?

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Interesting articles on life insurance

  • A Few Questions to Help You Plan For Your Pregnancy - Although this list of questions may seem daunting at first, if you give yourself enough time to work through these questions, you should be sorted by the time your baby is born. 1 )  Admin and finance-related (pre-baby) Medical aid Do you have medical aid? What pregnancy-related benefits do they offer on your chosen option? Read More
  • Baby on the Way? How to Beat Budget Blues - Ask someone whose got kids for advice, and most likely you’ll hear: “Your life will never be the same again.” But that statement is almost always quickly followed by: “But it’s so worth it!” If you’re having your first child and up until now, haven’t had to provide for anyone but yourself, there will be Read More
  • What is an accelerated funeral benefit? - It may come as a surprise, but a life insurance claim can often take up to a few months to pay out. So what about the funeral costs? Well, you could take a funeral plan, or if offered by the insurer you could get an accelerated funeral benefit as an add-on to your life policy. The accelerated Read More
  • Buying an underwritten policy? Answer all questions honestly and accurately.  - When buying a life insurance policy it is very important to answer all questions honestly and accurately. Why? An underwritten policy is priced according to your individual risk - hence all the questions. Not answering honestly and accurately could lead to something insurers call 'non-disclosure', and that could mean a policy doesn't pay out when it Read More
  • So who needs life insurance: well ask yourself this ? - If I were to die how would my dependants survive without my income? What would happen to bond or rent payments, vehicle installments or school fees? If you don’t easily know the answer to any of these questions then you most probably need life insurance. Maybe you don’t have dependents but still have bills that Read More
  • A Funeral Policy vs Life Insurance - A funeral policy is designed to pay out a quick amount of cash to cover the costs associated with a funeral. Life cover offers much higher payouts but doesn’t necessarily have the promise to pay-out as quickly. So how do you get the best of both worlds? With a Different Life policy, you can ad Read More
  • Why does my premium increase when my cover doesn’t.  - Many insurance policies have an increasing premium even though the cover amount doesn't change. Life insurance also gets more expensive as you get older; why would this be the case? Each year we get older and unfortunately for all of us that means we become more likely to die, even if only a little bit. Read More
  • What is a waiting period and why should you care?  - A waiting period is an amount of time where you pay a premium but don't yet have full cover. This is usually done to prevent people from buying a life insurance product when they suspect they might already be ill. Another way to deal with this risk is for the insurer to assess it through Read More
  • So what is underwriting anyway? - We think you should understand what you buy. So what is underwriting anyway? Perhaps the best way to answer that is to consider the following... Two people are looking to buy a R1 million’s life insurance. The insurance company offers each of them the cover at R500 a month One person is in perfect health, Read More
  • When a Policy won’t pay out? - Worried whether Different Life will ‘Um and Ah’ with your claim? This is always a sticky question. Ask any insurer: The number one cause of claims being rejected is because of non-disclosure. Non-disclosure is when you fail to tell the whole truth when applying for cover. At Different Life we’re trying our best to play Read More

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