|Assupol Holdings Limited|
|Products||Life Insurance, retirement plans, savings plans, wills and estate planning, funeral plans, car and home insurance|
|CEO||Riaan Van Dyk|
|Address||PO Box 35900 Menlo Park Pretoria, 0102 South Africa|
Assupol Limited is one of the oldest life insurance companies in South Africa. The company provides life insurance, funeral cover, retirement plans and savings options.
Assupol was founded in 1913 as a burial society for the members of the SAPS (South African Police Service). From then on Assupol grew from being a burial society to a life insurer for South Africans.
With such humble beginnings, Assupol has managed to increase its products and services and include those for groups. The company has a presence in all 9 South African provinces.
Assupol Holdings Limited operates through two wholly-owned subsidiaries namely, Assupol Life Limited and Assupol Investment Holdings.
Assupol Life Limited is registered as a life insurer and as an authorized financial services provider. While Assupol Investment Holdings (Pty) Ltd facilities the group’s strategic investments.
Assupol offers funeral cover to individuals including those that are under a government grant.
The cover starts from as little as R70 per month. Covers differ depending on your funeral cover needs.
You can add your family members on one plan as well as your extended family which can be your uncle or aunt.
The Assupol funeral cover is very flexible as you can extend your cover to include your great grandparents on one policy.
Assupol offers Life insurance to South Africans that starts at a very low price of just R90 per month.
There are different covers to choose from with the highest payout being R10 Million.
Almost all policy plans don’t require any blood test except for one, which is the Progress Legacy Plan.
The Progress Legacy Plan pays out up to R10 Million. With the level of investment, it is reasonable to require a blood test.
Progress 4sure plan highlights:
Progress 4life plan highlights:
Progress Legacy Plan:
Progress accident plan highlights:
This is a savings account from Assupol that matures in five years. 33% of the policy fees and allocation charges are paid back to increase your policy maturity value.
The 33% reallocation of policy fees and allocation charges is only applicable to policies that are 5 years old or more.
100% policy fees and allocation charges payback is applicable to policies of 10 years with non-withdrawals.
This is a tax-free savings account from Assupol that adheres to the tax-free savings regulations.
With this policy, you can invest a lump sum for a guaranteed return of investment.
The guaranteed returns are for five years and are tax-free. You can invest from R30,000.00 and up to R20 Million.
This option allows you to receive income on a regular basis by investing a single lump sum.
The minimum investment is R1 Million with no maximum amount. In 5 years your lump sum is paid back to you.
This annuity plan allows you to start investing in your retirement in two ways.
You can contribute monthly premiums to your retirement or you can pay a single lump sum to your retirement.
Contribution starts from R180 per month for the monthly premiums option and any amount for a single lump-sum contribution.
This plan is for small businesses and it makes it possible for these businesses to invest in their employees by making sure that their families don’t carry the costs of their funeral.
Assupol Holdings Limited is one of many insurance companies in South Africa. However, what differentiates it from other big insurance companies Discovery is that it caters even for the poorest of South Africans.
Not only does it cater to the poor but it also invests in black businesses, such as investment in Prosperity Insurance Company. Prosperity is the first black-owned insurance company in South Africa.