It is likely that you know somebody who experienced the ordeal of losing their life cover after his/her policy lapsed due to failed debit orders. Upon the policy lapsing, one loses all the premiums they may have paid over the years. We are pleased to advise that, going forward, this problem will be a thing of the past!
Pay a once-off premium and this buys you cover for life. You will never lose your cover.
Pay a once-off premium and this buys you cover for life. You will never lose your cover.
You can top-up your cover whenever you are able to. Whenever you make a payment, this buys you additional cover for life, and it adds to the previously bought cover.
In the event of a claim, once all the documents have been received and verified, Ongeza Life will endeavor to settle the claim within 2 working days.
See How It Works
Example
Six individuals with different profiles bought the policy on 1 December 2019. They then bought top-up covers after the first and also the second year.Their cover would grow as illustrated below:
Initial Purchase
| Age Next Birthday | Gender | Average Monthly Income | Once-Off Premium | Cover For Life |
|---|---|---|---|---|
| 25 | Female | R35 000 | 1000 | R7 980 |
| 28 | Male | R23 000 | 1000 | R4 982 |
| 40 | Female | R15 000 | 1000 | R3 485 |
| 40 | Male | R100 000 | 1000 | R3 796 |
| 32 | Female | R65 000 | 1000 | R6 784 |
| 52 | Male | R28 000 | 1000 | R2 271 |
Top-Up 1 Year Later
| Age next birthday | Once-off premium | Cover for Life | New accumulated Cover for Life |
|---|---|---|---|
| 26 | R2 000 | R17 576 | R25 556 |
| 29 | R500 | R2 309 | R7 291 |
| 41 | R700 | R2 418 | R5 903 |
| 41 | R5 000 | R21 572 | R25 368 |
| 33 | R4 500 | R34 626 | R41 410 |
| 53 | R3 500 | R8 969 | R11 240 |
Top-Up 2 Years Later
| Age next birthday | Once-off premium | Cover for Life | New accumulated Cover for Life |
|---|---|---|---|
| 27 | R3 000 | R25 880 | R51 436 |
| 30 | R750 | R3 631 | R10 922 |
| 42 | R800 | R2 717 | R8 620 |
| 42 | R7 000 | R29 288 | R54 656 |
| 34 | R5 000 | R37 179 | R78 589 |
| 54 | R3 500 | R8 667 | R19 907 |
Top-ups can continue in future until the life assured/policyholder reaches his/her desired amount of cover, subject to a maximum of R1m or until s/he attaints age 66.
