Most people postpone things that require more effort. How often have you delayed sorting out something that requires you to go inside a bank, or abandoned a purchase deal because the process was simply too long?
Stanleur Financial Services says lengthy processes can unfortunately also be a deal-breaker when people purchase insurance.
“While some people would rather go through the rigorous underwriting process to get the best risk rating, others are limited by time constraints. If you are an employee by day and your own boss after hours you are likely to value hassle-free solutions that make it easy to complete transactions at your convenience. Sanlam’s Express Cover has been designed with this need in mind.”
Sanlam’s Express Cover is designed to significantly shorten the time it takes to write and issue risk cover policies. However, while it takes less time to finalise your insurance purchase, Stanleur says the focus is still on proper underwriting that requires honesty and full disclosure at the point of sale.
“Express Cover is not just another limited-underwriting type product already available in the market. It is rather a simplified underwriting product. The difference is that while limited underwriting products are usually very expensive and involve little or no health questions and medical tests, Express Cover is properly underwritten. So your monthly premium still takes your risk profile into account, enabling the product to offer a competitive premium despite the simplified process,” says Stanleur
The simplified underwriting process requires people applying for Express Cover to answer only 13 health questions. Random BMI (body mass index) verification may be required, and for non-smokers, random cotinine testing may also be required. These can be done by a mobile nurse or by the applicant’s own doctor or clinic. No other blood tests, requests for past reports, medical exams, ECGs, scans or other medical information is required but applicants must truthfully answer the 13 health-related questions posed so that they can have peace of mind at claims stage.
Express Cover also has no waiting periods for death by natural causes, unless you take out a funeral benefit for other family members. It is available to Lesotho and Namibian citizens regardless of whether they live in South Africa or not. Other foreign nationals can also be covered by Express Cover but only while they are in South Africa and if they live in South Africa with valid travelling documents.
Sanlam has now extended its Express Cover offering to income protection benefits as well. This means that a client can now apply for both lump sum and income benefits with the same simplified process.
Contact Stanleur – Caring for your financial future. Call 012 942 1401 or email firstname.lastname@example.org