What is life insurance?
Life insurance policies are designed to pay benefits when the lives insured pass away by death due to any cause, including factors such as old age, cancer, most types of illnesses as well accidental death.
It will pay out a lump sum to your family to make sure that they are financially secure and stable. Premiums are usually paid for your whole life and as long as premiums are paid, the insurance company will pay the cover amount to the nominated beneficiaries in the event of your death.
What is accidental death insurance?
Accidental death insurance, as the name says, is an insurance policy that pays out benefits only if death occurs because of an accident. Types of accidental death that are covered are those caused by road accidents, drowning, fire, electrocution, hijacking and murder.
Accidental death cover is cheaper than life insurance as it only covers death from an accident cause and not all possible causes
When deciding which type of cover is suitable for you, you will need to look at your family’s financial needs in the event of death. If you are not certain how much cover you should have or which type of policy you should buy, speak to a qualified financial advisor who will be able to guide you through the process.
If you have already decided that Accidental Death cover is all you need, click here for quote and get cover today with a Sanlam online Accidental Death Plan. and your cover could be activated today!