OUTsurance life insurance review 2021

Posted on Mar 8, 2021 by Staff Writer

Rateweb | South Africa

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OUTsurance life Insurance Review Summary

OUTsurance life insurance covers three critical aspects of life insurance, namely; Death Cover, Disability Cover and Critical Illness Cover. The underwriting of these insurance solutions come with HIV and blood tests. As a life insurer, OUTsurance has been working hard to provide life insurance that is convenient for everyone.

OUTsurance has in excess of a millions in life insurance policies. This is credited to the company’s aggressive marketing and to a degree, its client service.

OUTsurance guarantees fixed premiums on their life insurance policies for five years from signing up. Then after, the premiums increase by an average of 6% per annum. So if you get into a life insurance deal with OUTsurance, you will be knowing what to expect in terms of premiums.

Let’s look at the advantages of choosing the OUTsurance life insurance cover.

Advantages of choosing life insurance from OUTsurance

As life is unpredictable, you can predict how much you can leave your family to safeguard their financial needs. By taking the correct life cover for yourself, you can make the dreams of your family come true in absentia.

There are a number of benefits that you can take advantage of by choosing to insure with OUTsurance. Here are the benefits or advantages of choosing OUTsurance life insurance solutions.

  • You get salary replacement if you get critically ill or suffer an injury.
  • Your beneficiaries will get to pay off all your debts that may include your home loan.
  • Kids will have money to further their education or finish high school.
  • Not only will your spouse or kids benefit but your parents can also benefit.

As you can see these benefits are for you and your family if anything happens to you as a policyholder.

Since you now know the advantages of choosing OUTsurance as your life insurer, now let us look at the Outsurance life insurance packages.

Outsurance Life Insurance

Life Insurance solutions

OUTsurance provides three life insurance solutions for individuals. Available life insurance solutions from OUTsurance include death, disability and critical illness cover.

OUTsurance Death cover

The death cover is a comprehensive life cover from OUTsurance that safeguards the financial future of your family. This cover will provide a long-term solution to your family’s financial needs.

Here are the reasons why you should choose the OUTsurance death cover as your life insurance:

  • Terminal illness benefit – should you suffer from a terminal illness and it leaves you with less than a year to live, 50% of your death cover is paid out to you. 50% is only limited to R1 Million on your entire policy. Therefore, only those with R2 Million cover or less can get to withdraw 50% of their cover amount. On the other hand, those with a cover amount of R2,000,001.00 or more can only get a payout of R1 Million.
  • Five-year guarantee – after taking a comprehensive death cover your monthly premiums will be fixed for five years. There won’t be any interruptions on your premiums.
  • Free medical tests – the death cover requires underwriting so blood tests are part of the underwriting process. OUTsurance covers the blood test expenses.

If any of the three reasons are compelling enough for you to join OUTsurance life insurance then you can take advantage and choose the cover.

Let’s look at the highlights of the OUTsurance death cover

  • You get covered immediately after taking the comprehensive death cover.
  • Premiums you pay are subject to your risk factors.
  • You need to be between 18-64 years of age to take the death cover.
  • The cover amount is between R200,000.00 – R16 Million.
  • The death cover comes with a Funeral benefit. This amount is the amount that speeds a portion of your comprehensive death cover.
  • As a policyholder, you can add a spouse or child to your death cover.

OUTsurance Disability cover

Accidents happen every day and can happen to anyone. Taking a disability cover can provide you with a sense of comfort should you get involved in an accident.

With a disability, one is likely to lose their monthly salary or income. Your cover will take care of some or all of your needs during this period.

Here are some of the additions that you can make on your disability cover:

  • Own occupation cover – if you get ill or suffer an injury performing in your own occupation, the own occupation cover will pay if you are a policyholder.
  • Suitable occupation cover – this cover is there to cover you should you suffer from an illness or disability that has resulted in you being permanently inable to perform your own occupation and other occupation, education, training and/or taking your training.
  • Accelerated cover – if you take out this cover your claim for disability or critical illness will payout from the death cover.

The disability cover has some highlights of its own, here are the highlights of the disability cover:

  • Free medical tests
  • The disability cover is a stand-alone cover and has no effects on your death cover.
  • You get immediate cover.
  • Five years of guaranteed fixed premiums.
  • Your risk factor will determine your premiums.

OUTsurance Critical illness cover

The critical illness covers a number of critical illnesses according to OUTsurance. Critical illness can include cancer. Critical illnesses are life-threatening in nature and as a policyholder, you will receive a payout should you be diagnosed with a critical illness.

Here are the features and benefits of the OUTsurance critical illness cover:

  • The critical illness cover, covers 40 illnesses.
  • The cover is immediate so there is no waiting period.
  • Five years of Fixed premiums.
  • Free medical tests.
  • Your premium is subject to your risk factors.

You can take the accelerated cover to lower your premiums on the critical illness cover. This is because your claim for disability or critical illness will payout from your death cover total sum.

Conclusion

OUTsurance is using its technological resources to quote its customers on its life insurance covers. The covers are good as they provide different cover needs for life insurance. One can take one or a combination of life covers which are death, disability and critical illness.

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