Momentum Insurance

Momentum is one of the top financial services providers in South Africa and offers a range of short-term and long-term insurance policies, investment products, and retirement solutions.

Established in 1966, Momentum has grown to become one of the most trusted brands in the country, serving millions of customers across various sectors such as individuals, small businesses, corporate clients, and public-sector entities.

How Momentum evolved

Their history dates back to the early days of the South African insurance industry when several life insurance firms merged to form Southern Life Association Limited. However, it was only in 2008 that they changed their name to Momentum Life.

Since then, they've undergone several transformations and mergers, including the acquisition of Metropolitan, another leading insurance and financial services firm, in 2010. Today, Momentum is a subsidiary of MMI Holdings, a leading financial services group offering insurance, asset management, and advisory solutions in Africa.

Helping you attain a better future

Momentum’s purpose is to help you achieve your financial goals and secure your future. They offer a range of insurance policies that include car and home insurance, life insurance, disability coverage, and health insurance. These policies are designed to provide financial security to individuals and their families in the event of unexpected events such as accidents, illnesses, and death.

Momentum also offers investment products such as retirement annuities, unit trusts, and tax-free savings accounts to help you grow your wealth and achieve your long-term financial objectives. Their investment solutions are designed to cater to different risk appetites and investment horizons, making them suitable for all types of investors, from beginners to seasoned professionals.

Momentum will help you to plan for every life stage

Retirement planning is another area where Momentum provides you with expertise and support. The company’s retirement solutions aim to help you prepare for your golden years by offering retirement calculators, income drawdown options, and pension plans that cater to different lifestyles and personal circumstances. Additionally, they offer you financial advice and planning, providing expert guidance on issues such as tax planning, debt management, and estate planning.

With half a century's experience, you're in good hands

Momentum offers an income protection plan to protect your income in the event of unexpected illness, injury, or disability. This plan provides a monthly income replacement benefit to policyholders who are unable to work due to such circumstances.

Safeguard your financial stability

Momentum provides insurance for income protection that can safeguard your financial stability in the event of illness or disability that hinders you from working. The amount of money you receive every month will be determined by the percentage of your income that you opt to insure, as well as the severity of your condition.

If your condition is temporary, you can receive up to 100% of your income (after taxes) for up to two years. If it is permanent, you can receive 100% of your after-tax income until your chosen benefit expiry age. Moreover, if you have insured less than 40% of your income, your benefit will be automatically upgraded to 2.5 times your insured amount.

Momentum’s income continuation benefit explained

The income continuation benefit also has distinctive features that can improve your protection. For instance, the accrual percentage of the fund allows you to transform your Vitality health and wellness management into a significant financial asset after retirement. You can choose to increase your fund by depositing an extra 10% or 100% of your insured amount every year. When you turn 65, the accumulated income continuation fund will be paid out in ten equal instalments, providing you with supplementary income in retirement.

Additionally, the income protection insurance product includes automatic whole-of-life protection, automatic lifestyle protection, top-up income continuation benefit, and protection for annual bonuses. These exceptional features make Momentum's income continuation benefit an excellent choice for safeguarding your financial security if you encounter illness or disability.

They'll fine-tune your plan to suit you

The income protection plan covers a range of medical conditions and injuries, as well as occupational or work-related disabilities. The amount of the monthly benefit payout is based on your income at the time of purchasing the policy and is adjusted annually to accommodate changes in inflation and income.

In addition to the monthly payout, the plan also offers a range of value-added benefits, such as access to medical specialists for second opinions, counselling services, rehabilitation, and support for those with chronic illnesses.