Africa Unity Life
- Competitive Premiums
- Affordable Insurance Options
- Reliable Insurance Plans
[Accessed July 17, 2023]
About Africa Unity Life
African Unity Life Limited (AUL) is a South African-based insurer that was established in 2003.
The company's primary objective is to provide you with life insurance, funeral cover, and related financial services.
What makes Africa Unity Life special?
The company is a growing leading insurer in South Africa, providing a range of products and services. They’re known for their innovative and affordable products, which are designed to meet the unique needs of the South African market.
Caring for the community is what they do
In addition to providing products and services, they are deeply committed to making a positive impact in the communities they serve. A better future for all in South Africa is their goal, and they strive to promote African unity among staff and organisations they support.
They have a steadfast commitment to social transformation and corporate social investment (CSI), with a focus on supporting everyday heroes. They recognise the importance of maintaining ongoing good practices and are driven by their purpose to contribute to CSI initiatives.
Can you benefit from cover from Africa Unity Life?
Yes, there are several benefits of having life insurance or funeral coverage with African Unity Life Limited (AUL). From financial protection to affordable premiums, AUL has made it its mission to satisfy your individual needs.
They provide you with customised insurance covers and application processes that are easy to access and complete.
Unique products designed for your individual needs
African Unity Life Limited (AUL) offers a range of cover options to meet your needs. These cover options include life insurance which provides financial protection to your loved ones in the event of your death, and funeral cover which provides financial assistance to cover the costs associated with a funeral.
They also offer credit life insurance which provides financial protection for your outstanding debts in the event of your death or disability, health cover which provides financial assistance to a group of members within a workplace or institution, and travel protection cover which provides you with affordable travel protection with JustGo.
Africa Unity Life Services
African Unity Life's credit life insurance provides comprehensive coverage for your outstanding debt.
What is credit life insurance?
Credit life insurance is a type of insurance that provides you with financial protection if you’ve taken out a loan or credit agreement. In the event of your death or disability, this insurance will pay off the outstanding debt, ensuring that your family is not left with the burden of debt.
This type of insurance can be particularly useful if you have large debts, such as home loans or vehicle finance, and can provide peace of mind in the event of unexpected life events.
Credit Life insurance offered by Africa Unity Life
You’re responsible for paying the policy, as with any contract. The policy is calculated at a flat rate per R1 000 debt that needs to be covered and is not based on your risk profile.
It’s important to keep the policy active by paying the monthly premiums to get the benefits of the credit life policy. You may request a credit life policy as a prerequisite for the loan, so it's essential to honour the contract with the lender and ensure that the policy is in place.
It’s advisable to complete a budget beforehand to ensure that both the loan and sundries such as admin fees or insurance policies can be afforded over the policy's duration.
How will the policy benefit your family you may ask
This insurance policy will provide benefits for both you and your family. In the event of your death, permanent disability or retrenchment, any outstanding debt covered by the policy will be paid in full directly to the financial institution/s concerned.
This relieves your family from the financial burden of having to pay off any outstanding loans, allowing them to focus on grieving and making necessary adjustments.
Africa Unity Life – Credit life insurance
- Product Credit Life Insurance
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Affordable Insurance
They’re known for offering innovative and affordable insurance products designed to meet the unique needs of the South African market.
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CSI
They actively engage in social transformation and corporate social investment (CSI) initiatives, supporting education, healthcare, and community development.
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Cover Options
A range of cover options, including life insurance, funeral cover, credit life insurance, health cover, and travel protection cover.
Benefits of Africa Unity Life
- Provides financial protection for you and your family. In the event of death, disability, or other covered circumstances, outstanding debts are paid in full directly to the financial institutions concerned.
- Competitive premiums that suit your budget, making insurance coverage affordable and accessible.
- You can have peace of mind knowing you have reliable insurance coverage. Their commitment to providing innovative and affordable products, combined with their experience and track record, instils confidence and trust in policyholders.
- The company issues a ticket to assist you in tracking the progress of your claims. Payments are made promptly based on the service level agreement.
A hassle-free application for your peace of mind
When it comes to financial security and complete peace of mind, credit life insurance is a good way to reach that.
Africa Unity Life is committed to taking care of the money matters while you take care of the rest. They make it their mission to ensure they deliver up-to-date and innovative solutions for when you need them most.
How you can ensure your financial peace of mind
To apply for credit life insurance at Africa Unity Life, you can follow these general steps. Contact Africa Unity Life directly to inquire about their credit life insurance products and request a quote.
Once you’ve decided on the coverage and benefits you need, you’ll need to complete an application form. You may be required to provide personal information, such as your name, age, and contact information, as well as information about your outstanding debts.
You’ll be required to provide documentation, such as proof of income or medical records, depending on the requirements of the policy. When your application has been approved, you’ll need to review the policy terms and conditions carefully and sign the policy agreement.
How credit life insurance works
The policy is owned by the lender or finance provider, which means that they require you to make them the beneficiary of the policy.
This ensures that they’re still paid and your debt is covered should something happen to your earning ability. It’s important to understand if credit life is included with the loan amount you’re paying back monthly, what rate you’re paying, and the claims procedure.
Understanding Africa Unity Life’s claims process
The company has a three-step process for handling claims, which includes receiving, assessing, and paying the claim. In step one, the company issues a ticket to assist the client in keeping track of the progress of their claim.
Step two involves the allocation of the claim to an assessor, who assesses the claim based on the service level agreement (SLA). The SLA stipulates that payments will be made on the same day if the claim is received before 10:00 am, or the next day at the latest if received after 10:00 am.
In step three, the claim is reviewed by an approver and/or the admin manager, and either approved or repudiated. If the claim is repudiated, a repudiation letter will be sent to you, and you can request a reconsideration of the claim or lodge a complaint within 90 days.
The company will respond to the request for reconsideration within 45 days. If the claim is repudiated again, you may lodge a formal complaint, which will be reviewed by the company's compliance team and TCF (Treating Customers Fairly) committee.
Africa Unity Life is a trusted & reliable provider of credit life insurance
In our review, we found Africa Unity Life to be a company licensed to provide credit life insurance products and services, and is regulated under the Financial Sector Conduct Authority.
✅ Africa Unity Life is a registered and licensed insurance provider in South Africa: FSP 8447
Africa Unity Life Contact
Contact Number
Website
Physical Address
- 109 Jip de Jager Drive Springfield Office Park Cape Town Western Cape 7530 South Africa
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Opening Hours
- Monday 08:30 – 16:30
- Tuesday 08:30 – 16:30
- Wednesday 08:30 – 16:30
- Thursday 08:30 – 16:30
- Friday 08:30 – 16:30
- Saturday – Closed
- Sunday – Closed