Which Companies Offer Full Pre-application Medical Underwriting?
Below you will find a list of some of the Top Companies which practice full medical underwriting before accepting your application for life insurance. We have also included a little information about the companies, and what sort of advisors they have authorised to market their products.
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Altrisk started out as a specialist long-term risk product provider, that is, they offered Life Insurance and personal risk products for un-healthy people. What sets them apart from their competitors is their ability to "think outside the box". Starting out in 1999, their inherent entrepreneurial spirit, a clear focus and specialization in risk, has helped Altrisk to grow to over 90,000 policy holders. Altrisk is backed by the Hollard Group and Hannover Life Re. So while clients receive a Hollard Life policy document the products and policies are assessed and administered entirely by Altrisk on behalf of Hollard Life. An important part of managing risk is making use of suitable reinsurance for which Hannover Re is our primary partner, but risks are placed with Reinsurance Group of America (RGA) and Gen Re where appropriate. This totally unique structure provides our clients with the best of both worlds – the advantages of dealing with a focused operation combined with the backing of the Hollard Group and the security of major international reinsurers. Altrisk is available through Independent Financial Advisors.
Discovery is a leading financial services institution founded on the principles of consumer engagement and wellness. Their approach to financial services has always been highly differentiated and involves integrating their entire product range with a science-based wellness programme, Vitality. The integration with Vitality has enabled Discovery to improve their competitive position by offering unique products with quality benefits at a lower price than competitors. The life assurance market is serviced through the Discovery subsidiary, Discovery Life, and policy holders have access to other products such as Discovery Card, Discovery Vitality and Discovery Invest. All operating subsidiaries are 100% owned by Discovery, and available through either a Franchise Sales Force or Selected Independent Financial Advisors.
Liberty is a progressive wealth management group servicing with a strong presence around the African continent. For more than 50 years they have delivered innovative solutions to empower their clients, and allow their clients to "Own their own life". Clients have flexible choices, and are provided with expert advice and knowledge by Financial Advisors which either operate as Tied-Agents, or Independent Advisors for Liberty. So no matter what stage of life you are at, you can be assured you will get advise to make the right decisions. Liberty products include offerings in life and health insurance, investments, asset management and property development. Liberty is controlled by Standard Bank - Africa’s biggest bank – so you know our professionalism and integrity are of the highest order.
Metropolitan Holdings LTD is the largest financial services group primarily targeting the lower and middle-income markets in Southern Africa. The primary consumer brand within the New Africa Capital group is Metropolitan. Metropolitan is among the top three life insurance groups in Southern Africa in terms of number of customers as per the Markinor survey in the Sunday Times. The Metropolitan brand is ranked second in terms of trust, confidence and loyalty. Recently Metropolitan and Momentum merged to form what is now known as MMI Holdings. Metropolitan and Momentum, sizable insurance-based financial services players in South Africa boasts a total assets of about R414 billion and an embedded value of some R29 billion. MMI was already the third largest life insurer in South Africa when it listed on the JSE Stock Exchange on 1 December 2010. The complementary nature of the Metropolitan and Momentum businesses positions MMI as a performance and cost-driven entity with a strong focus on its 16 000 people, on products and service excellence.
Momentum Life, owners of the Myriad Life assurance benefits offer you and your family protection, cushioning the financial blow brought on by the unexpected events in life. Momentum Life understands that changing needs require different amounts of protection, and as you go through life your needs and requirements change and because we are all different, your dreams for the future are determined by your personal circumstances and goals. When considering taking out risk cover you need to seek out a company that offers you the options to:
- Choose from a wide range of pure risk benefits;
- Structure your selections in the manner, which best suits your needs;
- Manage all your risk protection requirements via a single policy;
Protect your family’s future today. Momentum Life's Myriad Policy allows you to choose from a comprehensive range of innovative, flexible risk benefits coupled with competitive rates; benefits which, can be personalised to suit your individual needs and adapted as your needs and circumstances change.
Old Mutual (South Africa) is the largest and most well-established financial services provider in Southern Africa, and holds a prominent position in the industry which is reflected in their strong operating performance across all their businesses. Old Mutual has a good balance sheet position and strong financial flexibility. And all this means peace of mind that when your family needs Old Mutual most, they will still be there. The Old Mutual product and service solutions take into account what clients need and deliver this through collective skills, years of experience and a value-driven people. Life insurance or life cover is a means of ensuring that your family or dependants are financially secure after your death. Things to consider when investing in life insurance is the amount of cover you need, how it will be paid out and if there are options of having readily available cash while your estate is being wound up. Start by getting a life insurance quote from your adviser or consult our product information tables.
PPS exists solely for the benefits of its members, and it is the only company that caters exclusively for graduate professionals. PPS is about the "Power of Mutuality" - that means policyholders can share in the success of PPS, through the unique Surplus Rebate Account. The Surplus Rebate Account is a unique, non-vesting policy benefit until retirement or death. PPS members who are policyholders can share in the profits of PPS through this SRA. Allocations to the SRA are based on the number of Units of Benefits held in the PPS Provider Policy. All of this sounding rather confusing? Don't worry, you can expect a call from a PPS Financial Advisor who is authorised by the Financial Services Board. The Financial Advisor will assist you with professional advice and will prepare a legally compliant quotation which will include terms and conditions. The advisor will also explain the benefits of PPS, including how you can personally benefit from the Surplus Rebate Account. In addition, the Advisor that contacts you will be able to explain the various premium payment options to you, and will also be able to introduce you to other benefits offered by PPS, such as Disability Cover, the Sickness and Permanent Incapacity Benefit, Critical Illness benefit as well as our Short Term Insurance and Medical Aid products should you wish. All of these may be added to your application.
FirstLIFE promotes the role of the intermediary, and the benefits of fully underwritten insurance products. We inform the public of the necessity of ensuring they are receiving full disclosure, with appropriate advice. We promote the use of full "Records of Advice" that clients are able to receive from Intermediaries, and why these are so important.
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The information contained within this website is not to be construed as advice in terms of the Financial Advisory and Intermediary Services Act of 2002 ("FAIS"). Information found here is purely informative, and journalistic in nature. Your enquiry has been powered by FirstLIFE Online Intermediated Solutions (Pty) Ltd. FirstLIFE is not a registered financial service provider, but is a membership body of Licensed Financial Advisors who are authorized under their own licenses to advise and intermediate on the products that are found within these pages. |