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Clientele Life Insurance Review 2021

Clientele Life insurance offers Life plans that insure individuals on different life-threatening occasions. The plans are affordable too, from R250 per month one can get a life policy from Clientele.

With four plans available to choose from, you can get a life insurance cover that is best for you. You can choose one plan or several depending on your cover needs. You can compare plans on the Clientele website, and see how much you can save and so forth.

The claiming process is fast as it takes just a phone call to get things done. Alternatively, you can use the Clientele mobile app to make your claim without leaving your house.

As much as the claiming period varies depending on a number of factors, you or your family can receive a portion of the cover amount to cover funeral costs. This will depend on the type of cover that you have with Clientele Life.

Let’s look at what Clientele Life insurance has in store for everyone.

Clientele Life Insurance plans

Clientele offers four different life plans for different purposes. The life plans include the standard, ultimate life, premium and accidental death plan.

The Clientele Standard Plan

This is the first tier life insurance from Clientele and it is the most affordable plan from the insurance company. The standard plan starts from R282 per month. This premium amount is dependent on a number of factors. Your age, your risk profile and health habits form part of your premiums.

Since the Clientele Standard Plan is affordable, the cover amount is also low. The cover amount is between R50,000.00 to R200,000.00. It is expensive when you compare this cover with the FNB Life insurance cover and the Liberty Life Insurance cover. The FNB Life insurance cover pays higher and for the same premiums. However, the advantage of the Standard plan is that you get your premiums back every 5 years.

Here are the Standard plan’s highlights:

  • Premiums start from R282 per month.
  • The cover amount is between R50,000.00 to R200,000.00.
  • First R10,000.00 is payable within the first 24 hours of making a claim. This is to help with the funeral arrangements.
  • For every 60 premiums, you will get your premiums back in cash.
  • The plan doesn’t require any medical examination.
  • If you are diagnosed with a terminal illness, you will receive 75% of your cover amount.
  • This plan includes immediate cover for accidental death.

The Clientele Ultimate Life Plan

The Clientele Ultimate Life plan is an upgrade from the standard plan coming with additional benefits. When you choose the Ultimate life plan you can opt to receive 50% of your premiums when you retire. The retirement age is 65 years.

The other 50% of your premiums will be paid to your beneficiaries when you die. Note that the 50% cashback benefit can only apply to the main member who is less than 50 years of age when taking out the Ultimate plan. Otherwise, if you above 50 by the time you take this cover then you won’t benefit from the 50% cashback.

The premiums start from R338 per month which is higher than the Standard plan. You can get covered up to R200,000.00. Unlike the Standard plan, the Ultimate plan requires the policyholder to do a medical examination.

Here are the highlights of the Clientele Ultimate Life plan:

  • Premiums start from R338 per month.
  • You can get cover of up to R200,000.00.
  • There is an optional cashback benefit after paying 60 premiums.
  • Comes with an optional accidental death benefit.
  • Your family gets R20,000.00 paid out within 24 hours of claim. This is to help with the funeral arrangements.
  • If you get terminally ill, you will receive 75% of your cover amount in advance cash.
  • Optional cashback of 50% of your premiums when you retire at the age of 65.

The Clientele Premium Plan

The Clientele Premium plan is definitely the best life insurance cover from Clientele Life. Unlike the first two plans, the premium plan comes with optional benefits that you can take advantage of. Not only do you receive optional benefits but you also get flexibility.

You won’t just go premium without any thorough underwriting. The Clientele life Premium plan requires the policyholder to have a blood test. This is because of the sum of the cover amount. While the Ultimate and the Standard plan insure up to R200,000.00 the Premium plan insures up to R10 Million.

The premiums are low on the Premium life plan. Premiums start from R250 depending on your cover amount, age, health status and risk profile.

Here are the highlights of the Clientele Premium life plan:

  • Comes with optional additional cover for disability of up to R5 Million.
  • Premiums start from R250 per month.
  • You can get a life cover of up to R10 Million.
  • There is no paperwork or a full medical examination.
  • The clientele will send a nurse to your workplace or home for 1 blood test.
  • Comes with an optional additional cover for the critical illness of up to R3 Million.
  • There is an optional cashback plan available to a policyholder.

The Clientele Accidental death Plan

The Clientele Accidental death plan covers one aspect of your life. This covers you for accidental death. Death due to an accident can happen to anyone and this is as important as the other life insurance plans.

This plan is mainly suitable for those customers with a life cover that doesn’t cover accidental death. Otherwise, it is advisable to take the accidental death plan along with a life cover.

Here are the highlights of the Clientele Accidental death plan:

  • Premiums start from R126 per month.
  • The plan pays out up to R100,000 for death due to an accident.
  • You have an option to cover you and your family on one plan.

Conclusion

The Clientele Life division offers competitive life plans that both the poor and the rich can afford. Standing out is the Clientele cashback benefit, which allows policyholders to receive some or all of their premiums back. Clientele as a life insurer is surely looking after its policyholders by allowing them to gain from their cover while they are still alive and when they pass on.

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Lethabo Ntsoane

Lethabo Ntsoane is a Financial Product commentator at Rateweb. He is an expect financial product analyst with years of experience in reviewing products and offering commentary. Lethabo majors in reviews and financial tips.

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