Customizable Life Insurance Solutions: How to Secure Your Family's Future
Protecting your family doesn’t have to be complicated. This guide shows how Old Mutual’s flexible, customizable life insurance policies let you choose the coverage that fits your needs, add essential benefits, and ensure your loved ones are financially secure—without paying for unnecessary extras.
🔍 Understanding Old Mutual’s Tailored Life Insurance Options
Old Mutual provides life insurance that adapts to your circumstances. Policies pay out:
- Tax-free lump sum starting from R100,000
- Monthly income starting from R3,000
These funds can help cover:
- Outstanding home loans
- Education expenses
- Daily living costs
Add-ons like disability or severe illness cover give flexibility to respond to life changes.
📌 Life Insurance Options
- Protect Life Cover: One-time payout when the insured passes away
- Protect Life Income Cover: Monthly support over an agreed term
- Last Survivor Cover: Covers two lives, pays out upon last insured’s passing
- Accidental Death Cover: Provides financial support in case of accidents
Enhancements like Cashback or Premium Protection ensure your family receives the right support when needed.
💰 Premium Increases
Old Mutual applies yearly premium increases to keep your cover aligned with inflation. Options include:
Fixed Rate: Increases by a chosen percentage annually
Age-Linked: Increases based on age, from 3% under 31 to 10% over 60
Age Yearly Premium Increase Younger than 31 3% 31 to 35 4% 36 to 40 6% 41 to 50 8% 51 to 60 9% Older than 60 10%
You can adjust these settings anytime, keeping your policy relevant and affordable.
💡 Benefits of Disability and Illness Add-Ons
- Disability insurance: Pays your cover if you cannot work
- Severe illness cover: Supports recovery from critical conditions
- Child Illness Benefit: Pays a portion if your child faces serious health issues
Bundling these within your main policy is cost-effective and ensures comprehensive protection.
🎁 Additional Features
- Old Mutual Rewards: Earn bonus points for health and fitness
- Premium Protection: Maintains cover if the premium payer faces hardship
- Immediate Cover: Starts within 30 days before first payment
These features provide extra flexibility, encourage wellness, and give peace of mind.
✅ Summary
Old Mutual’s life insurance lets you:
- Mix and match coverage
- Add essential protections
- Secure your family’s financial future
All while keeping premiums manageable and adaptable to your life.