Nedbank Life Cover

Founded in 1888, Nedbank became the Nedbank Group in 1973, when the merger between Syfrets SA, Nedbank, and Union Acceptances took place.

By 1986 the major shareholder was Old Mutual, with 53%. Nedbank Investment Bank Division, UAL Merchant Bank, and Syfrets merged and became Nedcor Investment Bank in 1992.

They're headquartered in Sandton and the current Chief Executive Officer is Michael William Thomas Brown. He was appointed CEO in March 2010, after serving as Chief Financial Officer.

He's also the deputy chair of the BLSA ( Business Leadership of South Africa) and chairs the BASA, (Banking Association of South Africa).

BASA makes sure that the banking sector advances the economic and social development of the country while protecting the interests of the sector and playing an oversight role.

What Nedbank does: in a nutshell

Nedbank Group offers wholesale and retail banking services, also wealth management, insurance, and asset management.

Their growing footprint

While Nedbank's main market is in South Africa, they also have operations in another 6 SADC (Southern African Development Community) countries, via subsidiaries and banks in Zimbabwe, Namibia, Mozambique, Malawi, Lesotho, and Eswatini.

There are also offices in Kenya and Angola. Overseas, Nedbank also offers financial services internationally in the United Arab Emirates, the UK, and Guernsey.

Business and personal insurance

They'll help you to protect your most precious assets. Nedbank will design solutions especially for you, to cover all your needs, be it long or short-term insurance, credit protection, home, vehicle, funeral, travel, or business insurance.

Reasons why to switch to Nedbank

Nedbank's Affinity Programme - how you and Nedbank can make a difference

They're deeply involved in the society we live in and take their responsibilities, like everything else, seriously. By using their Affinity Programme, you can choose which worthy cause you'd like your money to support and it won't cost you a thing.

Choose between arts development, environmental conservation, developing sports, or children's welfare groups. Just open an Affinity-linked investment or savings account and they'll do the rest.

Green Affinity: supporting the environment. In 1990 the WWF SA and Nedbank co-founded the WWF Nedbank Green Trust, a partnership supporting conservation projects. Nedbank Green Affinity and their customers have helped raise more than R350 million for more than 200 top environmental concerns.

You've done the hard work, now let them protect what you've worked for.

• Accessible on all platforms
• Solutions that are cost-effective and flexible
• Better value- you get more out
• Get the best advice from their team of experts
• Home Insurance
• Vehicle Insurance: extra cover includes drive-me-home and pick-me-up services
• Credit protection
• Funeral and life cover: MyCover funeral plan doesn't ask for health tests

The Money App:

• Where you can get a quote
• Submit and make a claim, do banking online or use cellphone banking
• The cover is full-time, ie 24 hours a day

The perfect cover for you and your family

• Get up to R2 million life cover.
• Choose your option.
• Nominate a maximum of 10 beneficiaries, if you choose.
• Get flexible premiums.
• Get a 5% rebate for being a Nedbank customer.
• There isn't a waiting period, once your first premium has been paid, you're covered.

Get optional additional cover

• Cover if you die in an accident for holders of the policy, from R100 000 to R2 million, or 100% of the benefit.
• They'll pay out a lump sum if natural death or accidental death claims are valid.
• You don't have to wait.
• Up to 10 beneficiaries.
• Get up to a 10% rebate on your premiums, 5% for buying on a digital platform, and 5% for debits.

Funeral cover

• From a minimum of R10 000 to R75 000
• This benefit is paid on accidental death.
• Covers the main member, wife or husband, 3 children, and parents, i.e. up to 8 additional people.
• Waiting period: 6 months for natural death, none for accidental.
• Nominate up to 10 beneficiaries.

Grocery benefit-how Nedbank thinks of you

• This is paid on the policyholder's death, however, if a claim is rejected they won't pay out the grocery benefit.
• Minimum grocery benefit is R100,  maximum is R5000.
• They'll pay this out for 6 months, on legitimate claims.
• The payout will be made out on the death of the policyholder, along with the funeral plan, which must be valid.
• Waiting periods: natural deaths-6 months, accidental deaths- this benefit becomes available as soon as they receive the first premium.

Get access to their Value For Life programme, a range of free services available to you, your family, and even a domestic worker: