| On
2023-02-05 7:06 PM

1st For Women life insurance review 2023

By William Dube

1st for women life insurance is a life insurance policy that allows individuals to insure their lives for up to R10,000,000.00. A dread disease cover can also be added to the 1st for women life insurance policy. Dread diseases can be insured for amounts ranging from R250,000.00 to R1 million.

The 1st for women life insurance comes with benefits that can be enjoyed by the policyholder. Through Guardian Angel Lifestyle Assistance, policyholders can get lifestyle benefits that assist them whenever they need help. Benefits that are available include:

Road Assist,
Home assist,
Medical assist,
Finance, tax and legal assist,
Concierge assist, and
Guardian Angel on call.

The assistance benefits are designed to assist a life insurance policyholder in navigating life’s difficult situations.

Why have life insurance specifically for women?

For more than a decade, this question has been central to 1st for women insurance. It also began when the company was founded in 2004. 1 st for Women noticed that women were underserved in the life insurance industry and decided that something needed to be done.

This niche market exists as a result of 1st for Women’s unconventional approach. 1 st for women life insurance covers not only the policyholder but also the policyholder’s children. This is due to the sudden realisation that children are important to women.

Using statistics, the company discovered that women are more likely than men to live an additional 7 years. This is something that insurance companies do not consider when evaluating life insurance policies. With this in mind, women tend to save money on premiums by selecting 1st for women as their insurer.

1st for women’s life insurance

Life insurance from 1st for women comes with great benefits. This life insurance coverage doesn’t expire at any point. You can add some of the benefits to your life insurance policy.

Adding more benefits will allow you to have more cover for different life-threatening situations. You can also add up to 10 beneficiaries on your life insurance policy. This can include your spouse, your immediate family, or distant family.

Life insurance covers you from death due to natural causes and accidental death. You can get cover from a minimum of R200,000.00 to a maximum cover amount of R10 Million.

Premiums will be subject to medical underwriting and age. When underwriting, considerations are made to ensure that customers get the best premiums possible.

Your life insurance policy includes the 1st for women’s expo-sure. Expo-sure ensures that you and your family have full access to confidential HIV testing and treatment within a 72-hour window period after accidental exposure.

With expo-sure, you will be provided with

  • The morning-after pill.
  • Access to 24 hours, 365 days care centre for HIV/Aids information
  • Life long phone-in advice and counselling
  • STD prevention medication

Add-ons that you can make on your life insurance cover

You can add a number of benefits to your life insurance cover. 1st for women allows you to add other benefits to your life insurance policy to ensure that you get a cover for your other insurance needs.

Add ons include dread disease cover and disability cover. We will look at both benefits in detail.

Disability cover

Since disability is a risk that each and everyone faces every day, taking a disability cover can help ease the financial burden if you ever find yourself disabled one day. This is because you won’t be able to earn an income during this period.

When you have a disability, your life will likely change in a big way and might take a 360° turn. This disability payout can help with medical bills, doctor consultations, living expenses, or even renovating your house to suit your disability.

1st for women disability cover comes with two options. The first option is a cover for occasional disability insurance that covers you for occupational disabilities. The second cover is an event-based disability cover that covers you immediately for accidental disability.

A claim for a disability cover will be rejected on the following events:

  • Disability as a result of drug and alcohol abuse.
  • Self-inflicted injury or illness.
  • Disability while breaking the law.
  • Taking part in criminal activity or any hazardous sport.
  • Disability is a result of hazardous pursuits like participation in war acts, riots, or acts of terrorism.

Dread disease cover

Women have their own critical illnesses and 1st for women takes note of these. 1st for women covers you from a number of dread diseases. This product is a stand-alone product so you can add it to a life insurance cover.

Your life insurance policy will not be affected in any way if you claim for a dread disease benefit. This cover pays out a lump sum which is subject to your coverage amount. When diagnosed with a severe illness, 1st for women will pay a portion of your cover to help through such trying times.

The dread disease cover comes with a number of benefits. These benefits include:

  • Can get cover of up to R10 million.
  • Has no medical checks besides an HIV test.
  • Add up to 10 beneficiaries to your cover.
  • There is no increase in premiums for the first 24 months.
  • There is no waiting period for accidental death and natural death.
  • The payout is tax-free.

Advantages of the 1st for women life insurance

  • The comprehensive life cover provide cover for up to R10,000,000.00.
  • There are different types of covers to choose from.
  • Women get better rates, therefore, as a woman you can save by insuring with 1st for women.
  • There are assist benefits that can be used at no additional fee.
  • Dread disease cover is available to a maximum of R10 million.
  • Payout is tax-free

Disadvantages of the 1st for women life insurance

  • There are rewards.
  • Cash back benefit is not available.

Conclusion

1st for women life insurance is specifically designed for women by taking into consideration their life insurance needs. 1st for women has been working tirelessly to offer the best solutions that cater best for women.

Slowly but surely the company has been moving in the right direction offering life insurance products that are forward-thinking specifically for women. The company’s dread disease and accidental disability cover are a great examples of women’s life insurance covers.

The dread disease and accidental covers provide solutions that are innovative and women-centric. 1st for women’s focus on cervical cancer and pregnancy distinguishes 1st for women’s life insurance from traditional insurers.

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William Dube

William Dube is a finance and economic news expert with over 10 years of experience in economic anaylsis, financial product assessment and market analysis. With a numerous certificates from prestigious universities including but not limited to Yale University and the University of Pennyslivenia. William specializes in providing insightful news developments in South Africa and commentary on investment strategies, risk management, and global economic trends. You can contact him on william@rateweb.co.za