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The importance of insurance

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It’s Women’s Month in SA, and we’re celebrating women like you, who juggle busy careers and family demands. Sometimes, you don’t even have time to think about tomorrow – but here’s why you should.

If you’re relatively young and healthy, it might not feel like insurance is something you need to worry about. But life happens: tragedies occur, debilitating illnesses are a reality, and whole futures can change in an instant. We took a look at some fascinating stats from South Africa to see whether the average woman has the insurance she really needs.

Almost half the claims in 2016 by women aged between 35 and 44 were for salary protection products, says Liberty. Around 25% were for disability cover, and just over 26% were life cover claims. These are sobering statistics.

According to the South African Insurance Gap report by True South Consultants, if the average South African earner wanted to maintain their family’s standard of living after their death, they would need cover of at least R1.4m. Yet the average earner has life cover of just R500 000.

To maintain the average standard of living after disability, an amount around R2 million is needed – and yet the average earner has just R900 000 of disability cover. Many are, of course, not covered at all.

According to the report, there are six million woman earners in South Africa, with an average income of R127k per annum, and an average age of 38. While women have less of an insurance gap than men, it’s still nearly 40% – that’s a significant amount to any family. The most underinsured group is earners under the age of 40.

Liberty’s report states that 33% of health claims from women who are young parents are for cancer – far and away the largest percentage. This rises to over 38% in women over 40.

So it’s clear that South African women need more insurance than they currently have. If you’re one of the many who falls into the insurance gap, look no further than Vodacom to help you fulfil your insurance needs with simple, easy to understand and affordable cover.

Vodacom Insurance takes care of your family

As well as the device insurance you’d expect from your trusted cellphone provider, Vodacom also extends their great service offering to include Life, Salary and Disability Insurance.

Vodacom Life Insurance is simple to apply for – simply visit the website and fill in the online form.

Premiums start at just R125 per month for R200 000 cover, and range up to R10 million cover. You won’t need any invasive or costly medical exams – just a few simple tests administered when and where convenient to you by Nurses on Wheels.

Read more about Vodacom Life Insurance here, and apply via the Vodacom website.

Disability Cover

Injury, paralysis and amputation can affect your ability to provide for your family.

Vodacom Insurance Disability Cover gives you a tax-free lump sum in the event that an accident leaves you permanently disabled and no longer able to work to provide for your family. This will help you cover any debt you may have during this difficult time.

The cover extends until you claim, turn 65 (i.e. retirement age) or pass away, whichever comes first.

Your monthly premiums depend on the cover you choose, as well as lifestyle factors, but rest assured that your premiums will always be affordable. Plus, you’ll get 20% of your payments back after five years if you don’t claim and if you keep your payments up to date.

Taking out Disability Cover doesn’t get more convenient than this – all you have to do is call 082 13 911 for FREE from your Vodacom phone, or SMS LIFE to 30807, and we’ll call you back.

And claiming is easy, too. Just phone 082 187 00, and a claims consultant will guide you through the claims process. Or you can email claims@vodacomlife.co.za.

Salary Protection

This cover from Vodacom Insurance safeguards your income against the unexpected, such as if you fall ill or suffer an injury that leaves you temporarily unable to work.

Salary Protection ensures you’ll get at least 90% of your income back if you suffer from a serious injury or accident. This will help you to maintain your current lifestyle, so not being able to work won’t be the end of the world.

You’ll also get 20% of your premiums back after five years if you don’t claim and if your payments are up to date.

Plus, it’s so convenient – all you have to do for a free quote is call 082 13 922 for FREE from your Vodacom phone, or SMS LIFE to 30864.

And claiming is so easy, too. Just phone 082 187 00, and a claims consultant will guide you through the claims process. Or you can email claims@vodacomlife.co.za.

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