1st For Women offers a life insurance policy that is specifically designed for women. The company started business in 2004 as a motor vehicle insurer for women. 1st for women would then add life insurance to its portfolio of products.
Today 1st for women relies on its marketing approach to deliver exceptional services for its customers. More importantly, it uses its marketing approach to understand the insurance needs of women.
With the help of Telesure Investment Holdings, 1st for women has managed to keep growing and has plans to infiltrate new markets. Telesure is a Holdings company that owns Hippo, Dial Direct, Budget Insurance, Auto and General, and 1lifedirect.
Why have a life insurance specifically for women?
This question has played a pivotal role in 1st for women insurance for over a decade now. It also started when the company was launched in 2004. 1st for women saw that women were not catered for in the life insurance industry, therefore decided that a change had to be done.
1st for women assessed women’s insurance needs and adopted 4 approaches to cover for these. What other life insurers didn’t take seriously when it came to providing insurance for women 1st for women did.
This niche market exists because of the radical approach 1st for women decided to take. 1st for women life insurance does not only take care of the policyholder but also the children of the policyholder. This is because of the understanding that children are important to women.
By the use of statistics, the company gathered that women are more likely to live a further 7 years than men. This is something that insurance companies don’t consider when doing evaluations for life insurance. With this fact in place, women tend to save in premiums by choosing 1st for women as their insurer.
1st for women life insurance
Life insurance from 1st for women comes with great benefits. This life insurance cover 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 covers 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 distance 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 expo-sure. Expo-sure ensures that you and your family have full access to confidential HIV testing and treatment with 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.
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 consultation, 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 drugs and alcohol abuse.
- Self-inflicted injury or illness.
- Disability while breaking the law.
- Taking part in criminal activity or any hazardous sport.
- Disability as a result of hazardous pursuit 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 cover. This cover pays out a lump sum which is subject to your cover amount. When diagnosed with 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 includes:
- Can get cover of up to R10 Million
- Has no medical checks besides a 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
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 example 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.