Life cover is an insurance policy where you pay monthly premiums for an agreed payout amount. 

If you pass away while the policy is active, the lump sum may be paid to your chosen beneficiaries or dependants, provided the claim is valid and meets the policy terms.

Life cover helps protect the people who depend on you financially. It can help provide financial support for daily expenses, debt, education and other commitments. 

Understanding your financial responsibilities can help you choose an appropriate level of cover.

Yes. It can help settle outstanding debt or leave a legacy to a person or cause of your choice. Taking out cover earlier in life may also help you secure cover before your circumstances change.

You can nominate up to 10 beneficiaries and specify what percentage of the payout each person should receive. Reviewing your beneficiaries regularly can help ensure the payout reaches the right people when it is needed most.

Yes. You may have multiple life cover policies, subject to applicable limits. Reviewing all your existing cover can help ensure your protection remains aligned to your needs.

No medical examination is required, but you will need to complete a health questionnaire. Providing complete and accurate information helps ensure your cover remains valid.

There is no waiting period for accidental death. For natural death, a waiting period may apply as set out in your policy documents. Understanding the applicable waiting periods can help set clear expectations around when cover applies.

Yes. Certain exclusions apply and are described in your policy documents. Taking time to understand what is and is not covered can help avoid unexpected outcomes at claim stage.

Premiums are based on factors such as age, health, occupation, lifestyle and the amount of cover selected. Reviewing your cover needs regularly can help ensure you are not over- or underinsured.

Premiums are paid via debit order. Keeping your payment details up to date can help prevent interruptions to your cover.

Contact Nedbank Insurance and submit the required supporting documents. Keeping your banking details up to date can help avoid missed payments.

Your policy may lapse if premiums are not paid, although a grace period may apply. Maintaining an active debit order can help prevent your policy from lapsing.

Yes. You can review and adjust your cover as your circumstances change. Major life events are a good opportunity to review your protection needs.

Contact us and complete the required update forms. Keeping your contact details current helps ensure you receive important policy communications.

Yes. Occupational changes may affect your risk profile. Updating us promptly helps ensure your cover remains appropriate.

Extended travel or relocation may affect your cover. Letting us know before travelling or relocating can help avoid unexpected impacts on your policy.

Review your beneficiaries after major life events such as marriage, divorce, childbirth or significant financial changes.

Updated beneficiaries help ensure benefits are paid to the intended people with fewer delays. Reviewing beneficiary nominations regularly can help ensure your wishes are carried out.

Request and complete the beneficiary update form and submit the required supporting documents. Once processed, you will receive confirmation.

Call 0800 333 111 or email clientservices@nedbankinsurance.co.za.

Life cover renewal is a periodic review of your policy and its terms.

Premiums, terms, conditions or other policy features may be reviewed. Reviewing renewal communications can help you understand any changes.

Premiums may increase due to factors such as age or changes in risk. Reviewing these factors regularly can help you better understand premium changes.

It is a good idea to review your cover and beneficiary details regularly to ensure they still meet your needs.

Yes. Renewal is a good opportunity to review and update your policy to reflect changes in your life circumstances.

Contact Nedbank Insurance and complete the cancellation process. Before cancelling, consider discussing alternative options that may help maintain protection.

Your cover ends on the cancellation date and no benefits will be payable after that date.

Any refund will be subject to the policy terms and timing of cancellation.

Depending on when you cancel, a notice period may apply.

Reinstatement is not guaranteed and may be subject to assessment.

Failure to pay premiums may result in your policy lapsing. Contact us if affordability becomes a concern.

Your policy may be cancelled or lapse in circumstances described in the policy terms, including non-payment of premiums or material non-disclosure.