No strings. No obligations.
Life Lump Sum cover from Bidvest Life is insurance that pays a lump sum to your chosen beneficiaries when you pass away.
Your Life Lump Sum cover will pay out to your selected beneficiaries when you pass away. At the time of taking out cover, you can decide who the proceeds of the policy will go to and what percentage of the payout each of them should receive.
Everyone with dependents should have Life cover.
This cover is typically used to pay off your debt in the case of a death. Other once-off expenses may include executors’ fees, estate duty, transfer costs, capital gains tax, etc. In some cases, it can be used to provide dependants with a legacy.
”At the time of taking out cover, you can decide who the proceeds of the policy will go to and what percentage of the payout each of them should receive.”
You can take up a minimum lump sum of R 100 000.
You can claim for any cause of death, except if your death occurs in the first two years after the start date of your cover and is either self-inflicted or as a result of suicide.
You can select a combination of lump sum and income benefits when you take up both Life Lump Sum and Life Income from Bidvest Life.
2) Cover Extension
You can choose for your cover to stay in place until your selected retirement age or for the rest of your life.
1) The Terminal Illness benefit is automatically included with Life Lump Sum cover and pays your full cover amount on diagnosis of a terminal illness with 12 months or less life expectancy.
2) The Immediate Expenses benefit is also automatically included with Life Lump Sum cover and pays lesser of R50 000; and 10% of the Life Lump Sum cover amount within 48 hours of receiving confirmation of your death.
3) The Medical Second Opinion Family Benefit is an optional benefit, which offers you and your immediate family an independent medical diagnosis and review of your treatment plan. The service includes access to a global network of more than 100 world-leading medical centres known for medical research breakthroughs and advanced treatments.
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