Best Life Insurance Covers in South Africa in 2026
Shopping for best life insurance cover in South Africa can be one of the most overwhelming tasks.
With such a wide variety, you have many options to choose from, but not sure which of the options is the best for you.
We take a full review of all the best life insurance covers in Mzansi and review each, after these reading, you will know which one suite will your needs.
What is Life Insurance?
Life insurance is intended to provide you peace of mind that, in the case of your passing, your dependents such as children or a partner will be taken care of financially.
When purchasing it, you need consider a number of factors, including the kind of insurance you want, when you need it, and how to get it.
How Does Life Insurance Work?
Life insurance provides your dependents with financial help when you pass away, either in the form of a lump sum payout or recurring payments.
The level of coverage you purchase will determine the amount of money paid out.
You get to choose how it’s distributed and whether it will go toward certain obligations, like a mortgage or rent, or if it will be left to your family as an inheritance.
Top 10 Best Life Insurance Covers
Here is a list of top 10 life insurance covers in South African in 2026.
Old Mutual
Looking for a life insurance company that pays claims quickly?
Old Mutual settles claims within 48 hours of submission.
On our list, this turnaround time is the most effective.
A cash payment of up to R50,000.00 is also accelerated in the event of a policyholder’s passing to ensure that funeral preparations are made.
Liberty
Simple life insurance is available from Liberty Life, and you may add as many beneficiaries as you like to your policy.
Because the policyholder may change their insurance at any moment, the life insurance coverage is also adaptable.
You may increase this coverage by adding a major sickness insurance, income protection, and disability cover.
Assupol
Assupol Life Insurance has lax underwriting requirements.
Additionally, the coverings are reasonably priced and cater to South Africans with poor incomes.
A R90 monthly minimum is required for premiums.
Absa
You may quickly obtain a life insurance policy from Absa.
Absa provides quick options for life insurance.
You won’t need to undergo any health exams to start receiving coverage if you get the Absa Ultimate Protector insurance.
You can add critical sickness and disability insurance.
Metropolitan Life Insurance
Metropolitan provides life insurance coverage that is known for being inexpensive.
The affordable Metropolitan Life Insurance also offers services to the underprivileged.
Few life insurance companies offer coverage for those with modest incomes, but Metropolitan does so well that you may receive a cover of R100,000 for affordable rates.
Metropolitan provides services to wealthy people who wish to spend millions on their lives.
Along with your life insurance, you can also add disability and/or critical illness coverage.
Therefore, Metropolitan can provide you with the combination of life goods you require.
FNB Life Insurance
FNB Life Insurance offers its clients reasonably priced life insurance policies.
It is possible to combine life insurance with a critical illness and/or disability insurance policy.
You may also buy income protection coverage if you wish to safeguard your money.
You won’t have to pay an additional payment for the benefit of the R30,000 funeral protection that comes with the insurance.
In South Africa’s market for life insurance, FNB has the most devoted clientele.
According to SA-CSI, it not only has the most devoted clientele but also provides the best customer service in South Africa.
Discovery Life Insurance
On our list, Discovery Life offers the broadest selection of life insurance coverage.
From Discovery, there is more to choose from.
You may combine life insurance with a variety of advantages.
The typical life insurance packages, including critical sickness, disability, and income protection coverage, are available.
The next step taken by Discovery Life is to provide benefits for kid education, estate planning, child protection, and many other advantages.
Discovery life insurance is for you if you want to add a lot of advantages to your life insurance.
Because there is significant product differentiation, you can save money on premiums if you own one or more Discovery products.
Momentum
On our ranking, Momentum Life Insurance has one of the laxest underwriting policies.
The benefit of this life insurance is that claims are paid out quickly.
Momentum Life paid out R45 billion in death claims for the 2019 fiscal year.
Sanlam
The second-oldest life insurer on our list, only after Metropolitan, is Sanlam Life Insurance.
Experience is essential in this scenario.
Sanlam is the largest life insurer in Africa in terms of revenue and has the resources necessary to get things done.
Sanlam is the solution if you’re seeking for a reliable business.
The most adaptable life insurance policies on our list are provided by Sanlam.
You may insure your life for any sum above R5 Million with the Sanlam Premier cover.
1life Insurance
Three tiers of life insurance are available from 1life.
These policies are available for people who require low, medium, or high levels of life insurance.
You can purchase one life insurance policy for a life cover of up to R10 million.
You may add coverage for critical sickness and incapacity to your life insurance policy.
Conclusion
One of the most important factors to remember when searching for best life insurance covers is, price is not always the deciding factor.
Ensure that you are getting value for money, whether cheap or expensive, do not make your decision based on the lowest premium.
Follow previous client reviews, ensure that the company that you choose do successful pay-outs.
You may also be interested in reading about list of best investment companies in South Africa.
