Guiding consumers since 2009

Double your life cover before year end!

By Staff Writer
 

Momentum Life Cover Special 2009

(1st October - December 31st )

 

 

Double your life cover without any medical tests before the end of this year!

Just Money - So what exactly is the Momentum life cover special offer and who qualifies?

The Momentum life cover special is an underwriting concession which runs from the 1st October 2009 until the end of the year. It allows qualifying clients younger than the age of 56 to take out additional life cover with Momentum without any further medical tests.

Just Money - Who qualifies for special life cover offer?

There are two separate underwriting concession offers running. The first deals with healthy lives and includes anyone that has an existing life insurance policy in place which was taken out after the 1st October 2006. The life insured must have been fully underwritten (medicals completed with a negative HIV test result) with no health loadings or exclusions on his current policy. The second offer deals with anyone who has a life insurance policy in place after 1st October 2007 but has a health loading on the policy. They can take out additional life cover provided the loadings are within certain parameters set by Momentum.

Just Money - Are there limits on the amount of cover you can take up?

Yip, guys you have been underwritten at normal rates can take up to a max of R10 million cover and anyone with a health loading on their current policy is limited to R5 million cover.

Policy with no loadings?  Take out up to twice as much cover as you currently have in place

Policy with a loading?  Take cover equal to the amount of cover you currently have in place

Just Money - Give us an example of how this would actually work in practice?

Mr Moneybags took out a policy with a life insurance company in December 2006. He is currently 48 years old. He is in good health and he got his life cover at standard rates with no health loadings or exclusions. He currently has R1 million life cover in place with company X. He would qualify for up to x2 times as much cover as he has already got in place currently. So based on this special Momentum underwriting concession, provided Mr Moneybags has had no change in his health, he could take out another R2 mil rand life cover with Momentum before the end of this year.

Just Money - Are the benefits up for grabs limited to life cover only?

Not at all, the offer applies to disability, dread disease & impairment benefits.

  • Terms & Conditions of the Momentum Underwriting Concession can apply.

 

Recent Articles

Featured What’s the deal with underwriting?

When you apply for a long-term insurance policy, a financial adviser will ask some personal questions about your lifestyle, family history, health, and even ask you to take some medical tests. This process is called underwriting, but is it really necessary?

 

How are you taxed on your retrenchment package?

Unemployment is one of the biggest problems in South Africa. The emergence of the Covid-19 pandemic has exacerbated the situation with a lot of companies retrenching their employees.  When retrenched, you’ll receive a retrenchment package, but do you know how much tax you’re liable for?

Car repossessed – don’t be taken for a ride

When the country is facing an economic downturn, chances are your finances will feel the pinch. This can lead you to make bad financial decisions such as skipping your vehicle payments. But every decision has consequences and if you don’t pay your instalment, the bank will repossess your car. But what can you do when this happens?

 

Why you should consider gap cover

Your medical aid should protect you from incurring large medical bills when you’re sick. But what if your plan doesn’t cover the full cost of your medical expenses? We got in touch with insurance experts to find out whether gap cover is worth having.

Deals

Office furniture at discounted prices at BDK

Price: Available on request
When: Daily
Where: Johannesburg

Da Vincis Happy Hour Special

Price: Available on request
When: Daily
Where: Cape Town

Use your Absa card and get 30% cashback at Dis-chem

Price: Available on request
When: Daily
Where: Nationwide


Latest Guide

Guide to debt rehabilitation solutions