Nedbank Life Cover

Nedbank is one of South Africa’s most well-known and respected Financial Services Providers, with a customer base of more than 7 million.

Nedbank is a purpose-driven organization that places integrity, respect, accountability, and people at the centre of everything they do. They strive to develop long-lasting relationships with customers by delivering more than expected and empowering people to make their dreams come true.

Exceeding customer expectations

While Nedbank is the fourth largest bank based on the number of customers they have, its customer satisfaction rating is higher than all those FSPs with more customers. This is a result of their commitment and dedication to delivering excellence to each and every customer.

Financial and risk management solutions for all

Whether you’ve just had your first child or are looking to switch to a bank that offers you better products and services, Nedbank is a prime choice.  They offer a host of financial products and services and top up these offerings with a range of personal insurance products that deliver real security and value for money. This can be said for their entire range of insurance products from their life cover to their car insurance – you’re in good hands!

Nedbank Life cover insurance products

Nedbank’s R2 million life cover cap is sufficient to meet the needs of most South Africans but is admittedly lower than caps you’ll find with other large insurance providers which offer as much as R10 million.  It’s also slightly lower than other FSPs like FNB but, once again, this is more than sufficient to cover most people.

If you’re a Nedbank customer and are looking to establish a decent financial plan.

Nedbank will give you peace of mind and ensure that your family is well taken care of in the event that something disastrous happens.

Mycover Life from Nedbank

Nedbank’s Mycover Life product offers South Africans life insurance cover of up to R2 million with a host of optional added benefits and features. If you die or any of the events that you’re covered occur, such as being diagnosed with a terminal illness or becoming permanently disabled, your policy will pay out as per the cover amount.

Your cover amount and applicable reductions

Your cover amount will be unique to you and will be set out in your policy schedule which sets out all the important details and information regarding your life cover. This amount may be paid out in full if you pass away (and no exclusions apply) or may be reduced in the event that any accelerator benefits are activated.

Accelerator benefits

Accelerator benefits allow you to make claims before you pass away but, making these claims will reduce the funeral cover amount discussed above.

Optional add-ons available on Mycover Life

• Accidental death cover up to 100% of your main benefit
• Funeral cover of up to R75,000
• Grocery benefits of up to R5,000 for six months
• Access to Nedbank’s Value for Life Programme which offers a trauma, assault, and HIV benefit, legal services, funeral support services, and access to a personal health advisor.