Life cover: what it is and how to get quotes

Life cover pays a lump sum to the people you name if you die. Policies range from R100 000 to R5 million or more. Insurers price on your age, gender, whether you smoke, your income, education, occupation and health. A common starting point is ten times your annual income, or the balance of your home loan. Updated September 2026.

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Who it suits

Life cover suits anyone with people who depend on their income: a partner, children, parents you support, or a bank that holds your bond. It is the product that replaces your salary for years, not the product that pays for a funeral. If you have cover only through your employer, it usually ends when the job does, which is why many people take their own policy alongside it. Most insurers on our panel cover people from 18 to 60 and ask for a monthly income of at least R8 000 to R10 000.

What the insurer will ask, and why

These are the questions on our form for life, with what the insurer does with each answer. Nothing here is optional guesswork: every question exists because a licensed insurer needs it to quote.

Main reason for life cover: Purpose informs sum-assured reasonableness and product type (term vs whole life).
How much cover?: Sum assured; triggers medical underwriting thresholds (typically above R1.5m–R3m).
Do you have life cover today?: Replacement disclosure obligations.
Gender (as on your ID): Life cover in SA is gender-rated.
Do you smoke or vape?: Smoker status is the single largest lifestyle rating factor (up to 2x premium).
Monthly income before tax: Sum-assured reasonableness and affordability.
Highest qualification: SA life insurers rate on education as a mortality proxy.
Type of work: Occupation loading.
In the last 5 years have you been treated for a serious condition (heart, cancer, diabetes, HIV, stroke, kidney, mental health)? (optional): Triggers full medical underwriting; keeps the quote realistic.
Your date of birth: Age is the primary rating factor across every product.
Which province do you live in?: Regional risk and pricing tables.
Town or suburb (optional): Postal-code rating for short-term products; language and dialect hints for call centres.
What best describes your work situation?: Affordability and, for income products, insurability.
Do you have a bank account you can pay from by debit order?: Collection method.

Questions people ask

Will I need a medical test?

Not always. Below roughly R1.5 million, most insurers decide on your answers alone. Above that, they usually ask for blood tests and a nurse visit, which they arrange and pay for.

Does smoking really change the price?

Yes. It is the single biggest lifestyle factor, and a smoker can pay up to twice what a non-smoker pays for the same cover. Insurers count vaping as smoking, and most treat you as a non-smoker once you have stopped for twelve months.

Do you run a credit check?

No. Neither the form nor the insurer's first call involves a credit check. The insurer asks your income to check that the cover amount makes sense.

Olvian is a marketing and lead-referral service. We are not a licensed financial services provider, we do not give advice, and we do not sell insurance.