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Life insurance is a touchy subject, one that most people would rather ignore. Some consider it an obligation or a luxury. This could not be further from the truth. Life insurance is an absolute necessity.

Here to solve the mystery of some of the many frequently asked questions on life insurance is Virgin Money Life, a fuss-free life insurance solution that offers life cover up to R10 million

What is Life Insurance?
Life insurance is a means of protecting the financial security of your family, and making sure they are safeguarded in the untimely event of your death.

Who needs Life Insurance?
If you have people who depend on you, you need life insurance.

How does one go about acquiring Life Insurance?
In the past, life insurance could only be purchased through a broker. Now though, thanks to the introduction of Virgin Money life insurance, customers can buy life insurance directly over the phone or online.

What are the benefits of purchasing Life Insurance directly?
The benefits are numerous. Firstly, it enables the consumer to cut back on costs, time and administration, as you can simply call or log onto the internet for a quote. Direct life insurance also saves the consumer up to 22% as it is fully direct to the public and therefore does not bear the burden of broker commissions. All it takes to sign up is a few short underwriting questions, with no medical examinations. HIV tests, if required, are done by means of non-invasive, saliva-based testing or traditional blood tests, if the customer prefers.

Are there many life insurance products to choose from?
Virgin Money Life offers cover up to R10 million, depending on the customer’s requirements. The nominated beneficiaries of policyholders will receive the value of the life insurance policy in the event of the policyholder’s death. Included with the policy is a R25 000 Funeral Benefit which is paid out within 48 hours following the customer’s death; a R5000 Memorial Benefit to assist with buying a headstone for the unveiling on the anniversary of a successful claim; and a service that ensures that customers have access to confidential testing and treatment within the critical 72-hour window period after potential accidental exposure to HIV. Customers could also receive a Terminal Illness Benefit which pays out if the customer falls terminally ill and their life expectancy is less than 12 months. Customers may also qualify for a Guaranteed Assurability Benefit to increase their cover amount when they experience a lifestyle change, without the need for further underwriting. For additional peace of mind, customers can choose to add Disablement and Dread Disease cover. Virgin Money Life is a level sum assured product meaning that the level of cover won’t reduce, but can be increased at any time.

You see, life insurance does not have to be complex!

If its straight-forward solutions you are after, simply call Virgin Money Life on 0860 11 12 73 for a no obligation quote, or visit the website at www.virginmoneyins.co.za.

Risk profile dependent. Terms and conditions apply. Virgin Money SA (Pty) Ltd is an authorised FSP, 31730. Long term policies underwritten by 1Life FSP, 24769.