Alexander Forbes Life Insurance Review 2021

Posted on Jan 6, 2021 by Staff Writer

Rateweb | South Africa

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Alexander Forbes Life Insurance provides the best life insurance solutions for individuals with affordable premiums. Policyholders have a chance to set their financial goals beyond their existence. This is a great thing to do especially if you are looking to leave your family financially stable.

With the Alexander Forbes Life cover, there is more to what you can leave your family with when you die. By taking the Alexander Forbes Life cover, your family will be financially secured. Financial security won’t be something that will be short-lived.

The payout amount on your Alexander Forbes life cover will last for years especially if you plan to draw a plan of the payout usage. If you have children, your children can attend the best schools and be able to pursue careers that they love the most.

It is very much advisable to speak with an advisor when taking out the Alexander Forbes Life Insurance. Your advisor will help you in making the right decisions on how to go about distributing your life cover and how it can be used etc.

Way better if you have an estate plan as your Alexander Forbes Life Insurance cover payout can just use your estate plan and distributions will go according to it. Henceforth, by taking a life insurance policy your dependents will be in a good financial state.

As we take loans and finance for personal use, your life insurance policy can pay off these. Your other investments won’t be affected when your debts are covered.

Alexander Forbes Life Insurance provides a wide range of insurance cover for different types of incidents. Let’s take a closer look at the Alexander Forbes Life Insurance solutions that one can take.

Alexander Forbes Life Insurance solutions

Alexander Forbes Life Insurance division provides four solutions for their life insurance. The solutions include life cover, disability cover, income protection cover and critical illness cover.

Life cover

With the Alexander Forbes Life cover, you will be leaving your family or dependents with a legacy. The life cover payout comes in one single lump sum payment. Your family or dependents can use this money to settle debts, pay fees, cover immediate expenses and for investments.

You can achieve your generational goals by taking the Alexander Forbes Life cover. Also, you will need to pay monthly premiums on your life cover policy. Your premiums will depend on your risk profile and the amount of cover you want. The cover is flexible, hence you can choose the amount of cover you want.

Main features of the Alexander Forbes Life Cover:

  • A lump-sum benefit to the beneficiaries whey you pass away.
  • Helps with covering outstanding debt and expenses.
  • This is subject to underwriting.
  • Premiums will depend on your risk profile.
  • The life cover replaces lost income

Disability Cover

Disabilities come as a result of an accident or otherwise. Alexander Forbes doesn’t cover disabilities that are self-inflicted. Since disabilities mostly come from accidents one cannot predict them. That’s why you need to take out a disability cover.

A disability cover will help you, your family and your dependents when you are disabled. You won’t be able to go to work at this point and the last thing you need is financial pressure. You will need to pay medical and specialist bills so this money will help a lot.

The disability cover pays out a single lump-sum payment to the policyholder. You can use this money to adjust your home so that it fits your new physicality state. You will also be able to take care of your family’s financial needs.

Main benefits of the Alexander Forbes disability cover:

  • Once off lump sum when you can no longer earn income after an injury or illness.
  • Premiums will depend on your risk profile.
  • The payout can clear debts and pay fees as well as living expenses.
  • You will be able to meet your monthly obligations.

Critical Illness cover

Critical illness cover pays out when a policyholder gets diagnosed with a critical illness. A critical illness includes stroke, heart attack, cancer and more. During a period of such diagnosis, no one wants any financial pressure, in fact, you will need some money to keep up.

The payout amount can help handsomely. You will be able to fight a critical illness from some of the best hospitals in South Africa or in the world. Additionally, you will also be able to afford medication and healing procedures that can take months.

As for your family, you will be able to take care of them using the payout amount since you won’t be working. You can even invest some of the money for yourself and family to ensure that your family’s future needs are taken care of.

Main features of the Alexander Forbes critical illness cover:

  • Pays out a lump sum benefit if you’re diagnosed with a critical illness.
  • Covers medical or other additional expenses that may arise as a result of the illness.
  • Helps cover monthly expenses while you are critically ill.

Disability income protection

The disability income protection covers you should you be unable to work because of an accident or illness that may cause disability. This cover replaces your monthly income and you will then receive monthly income from Alexander Forbes.

The amount of monthly income that you will receive will depend on your policy cover. This monthly income will help you take care of your family and your financial life will carry on as normal.

Main features of the Alexander Forbes disability income protection:

  • Monthly benefit when you can no longer earn an income.
  • Helps you meet your monthly financial obligations.
  • Provides support for families.

Conclusion

Alexander Forbes Life Insurance provides four solutions that are very much of a fundamental to financial security. One can take one or more policies at once. This will depend on the current and future needs of the insurance buyer.

But having several life insurance policies will help you in many ways. This is because in life nothing is guaranteed so you will just have to prepare yourself for any uncertainty.

All together the Alexander Forbes Life Insurance is surely one of the best life insurance companies in South Africa. The company is doing well in the life insurance division and has a number of years in delivering life insurance. With decades of experience, Alexander Forbes is a company that you can trust to deliver first-class life insurance covers.

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