PRODUCTS DESIGNED FOR WOMEN
FINANCIAL services companies that have products designed for women include the following:
1ST FOR WOMEN
1st for Women is the only product provider that markets its products exclusively to women.
The company offers short-term cover in the way of vehicle, household contents and all-risks insurance, as well as long-term products that include life, disability and dread disease policies, all taking into account women’s risk profiles and particular needs.
A portion of your premium goes to the 1st for Women Foundation, which helps abused women.
It is also offers personal loans to women. On the loans, your risk profile is taken into account when determining your interest rate, but the terms are not necessarily more favourable than non-gender-specific loans from other providers.
ALEXANDER FORBES
Alexander Forbes’s Platinum Woman is a combined motor and household short-term policy that provides discounted premiums to women for being a lower insurance risk.
It has several other benefits, such as generous handbag contents cover, breast cancer cover, female driver discounts, a concierge shopping service, a roadside security service and complimentary hijack-prevention training.
OUTSURANCE
Lady@OUT is a woman-specific package you can add to your shortterm vehicle or households contents cover for a small extra premium. It includes handbag cover; emergency medical and legal assistance; trauma and HIV care; handyman assistance for home repairs and maintenance; spa treatment following certain claims; trip monitoring to ensure you are safe when driving; payment for groceries stolen from your vehicle; and additional security following a break-in.
1LIFE
1Life offers female dread disease cover that provides a lump sum payout if you are diagnosed with a female-specific cancer, cover for up to four children for certain cancers, and emergency benefits, which include access to a trauma and assault helpline, panic button and homeinvasion assistance.
BUSINESS FINANCE
There are several organisations offering business finance on favourable terms especially for women entrepreneurs. They include:
• Absa Women Empowerment Fund: offers finance of between R50 000 and R5 million, with enterprise development centres located throughout South Africa.
• Business Partners’ Women in Business Fund: provides access to finance and invests in commercially viable women-owned businesses, and offers support such as access to information and networking facilities, and workshops and seminars.
• Isivande Women’s Fund: a government fund aimed at stimulating women’s economic empowerment by offering loans of between R30 000 and R2m for businesses that have been operational for more than six months.
• Women Entrepreneurial Fund: a fund established by the Industrial Development Corporation, with R450m set aside for helping women in business.