087 057 9711 info@vdbbrokers.co.za

Life Cover

What is Life Cover?

Long term insurance is insurance that covers you in life changing events, such as death, severe illness and disability.

 

 

Purpose of Life Cover

Having risk cover, will ensure peace of mind for one’s family and loved ones that they will be taken care of financially in an unforeseen event of death, severe illness or disability. 

 

 

A family rely on one another’s income to sustain their lifestyle and living standards and for a single person to maintain their living standards in the event of disability.

What will we do?

VDB Brokers will help you and guide you through this process, from the first step of gathering information, to your annual anniversary and even those unforeseen claim events.

 

 

VDB Brokers has a selected and secured panel of product providers for your insurance needs. VDB Brokers will take care of the hassle, to source the quotations, and providing you with a comparison of the best options available, not only to suite your need, but to suite your pocket as well.

Life Cover Products Include:

Life Cover

Provides a lumpsum benefit in the event of death. One can choose between a term cover or whole life cover.

 

  •  Term Cover: Provides for the payment of the capital sum cover on the death of the life assured, only if this occurs within a set period. Term period can range from 5 years, 10 years, 15 years, 20 years to a maximum of 30 years. Term cover is generally for when you purchase a property, or any other asset financed by a bank or financial institution.
  • Whole life: Provides for the payment of the capital sum of life cover on the death of an assured.

Accidental Life Cover

 Fulfils the same purpose as a regular life policy. The difference relates to the cause of death. Accidental death policies will only pay out in the event of the life assured dying as a result of an accident.

Disability Cover

 Provides a lumpsum or monthly payment in the event of disability.

  • Disability Lumpsum: disability is a risk benefit which provides a capital benefit in the event of total and permanent disability or severe illness.
  • Functional Impairment: Functional disability refers to the level with which an individual can perform the daily tasks of living, e.g., bathing, dressing, going to the toilet and feeding himself. This benefit is usually calculated on a points scale, where the inability to perform certain tasks is linked to a specified number of points which will determine the level of benefit paid.
  • Income Protection: disability is a risk benefit which provides an income benefit in the event

Severe Illness

The severe illness product assist in covering extensive medical costs, general lifestyle adjustments that may have to be made in the circumstances and any other related financial needs. Severe Illness cover is a risk benefit that provides for the payment of a lumpsum on the confirmed medical diagnosis of a predetermined medical condition for example: Heart attacks, cancer etc.

VDB Brokers can also assist with the following policies:

Keyman Insurance

Many businesses especially small and medium businesses, depends heavily on a particular employee (Directors, Partners, Employees) for the success of the business. It is usually the person with the technical skills. Should an employee pass away prematurely or become disabled, the business may suffer a financial loss. The company can therefore take out a policy on the life of this key person to the extent of the financial loss that the employer feels he is likely to suffer in the event of death of that key person.

Buy-and-Sell Agreement

A buy-and-sell agreement addresses the needs of the remaining business owner in the event of death or permanent disability of one of the owners, it will also address the needs of the deceased dependents and the needs of the disabled owner and dependents.

Our Service Providers

  • Discovery Life
  • Momentum Myriad
  • Triarc
  • Liberty Life

Submit your details here and we will contact you.

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