ABSA Insurance

When it comes to choosing an insurer in South Africa, ABSA is a top choice for many individuals and businesses.

Enjoy a range of benefits with ABSA

When you decide to partner with ABSA for critical illness coverage you can rest easy knowing you’ll enjoy a wide range of benefits.

These benefits include comprehensive insurance solutions meeting a wide range of needs, competitive premiums, and an easy and convenient claims process from a partner with strong financial backing.

With ABSA, you can be assured that you’re in good hands. They offer a variety of insurance products, including life insurance, critical illness, disability, and funeral cover. No matter your needs, they have a solution that can provide you with peace of mind.

A long history to be proud of

ABSA was formed in 1991 from the merger of United Bank and Allied Bank. The following year, it acquired Bankorp Group, which included Trustbank, Senbank and Bankfin. Initially, each bank operated under its own name, but in 1998, they were consolidated into one brand.

The name was later changed to Absa Group Limited. In 2005, Barclays Bank acquired a 56.4% stake in ABSA, but the acquisition was criticised by the governor of the South African Reserve Bank, Tito Mboweni, who stated that he had not yet seen the benefits of Barclays' management of ABSA.

Comprehensive insurance solutions

Whether you need life insurance to protect your family, cover to provide support financially if you suffer a serious illness, or funeral cover to ease the burden on your family, ABSA has a product that can help. They also offer disability cover and credit life insurance for company employees.

Personalised service that takes your needs into account

At ABSA, they understand that insurance is a personal matter. That's why they take the time to understand your needs and provide you with personalised service. Their team of experienced advisors is available to answer your questions and guide you through the insurance process. They also offer online tools and resources to help you make informed decisions about your insurance coverage.

ABSA offers critical illness cover, which pays out a cash lump sum if you suffer from a critical illness like cancer, heart attack, or stroke.

This cover is also known as dread disease or trauma cover. Anyone concerned about funding costly treatment that may not be fully covered by medical aid or costly lifestyle changes should consider purchasing critical illness cover.

How you can benefit from ABSA's critical illness cover

The financial implications of a critical illness can be devastating, and the costs can easily run into millions of Rands, leading to financial ruin.

Critical illness cover provides cash that can be used as you deem fit. ABSA's insurance products offer unique features, including online convenience, no medical exams required for up to R3 million cover, and 20% cash back every 10 years.

Tips for ensuring adequate coverage

There’s an optional annual benefit increase of 5% to help keep pace with inflation. An insurance quote can be obtained in under a minute, and purchasing takes less than 20 minutes online.

The cover is available up to age 65, with an entry age of 20 to 59. You can increase, decrease, or cancel your cover at any time without penalties. Monthly payments can be made by you or your spouse.

The importance of comprehensive protection

You’ll have access to 24/7 benefits, such as an online policy management service called myinstantlife, which offers secure and convenient access to policy communications, policy documents, and the ability to make changes to levels of cover and beneficiaries.

It’s important to have the correct protection in place to ensure that all expenses will be covered. Comprehensive medical aid, medical insurance, and critical illness coverage are all crucial benefits and should not be viewed as substitutions for each other, as they address different aspects of critical illness.

ABSA's critical illness cover is an essential product for anyone concerned about the financial implications of a critical illness. It provides you with cash to use as needed, and the unique features offered by ABSA's insurance products make it a convenient and affordable option.