WHAT IT COSTS
The costs of policies depend on many factors, including the amount of cover, your state of health, education and other circumstances, and the rate at which the premiums will increase. Life companies rate these criteria differently and also have different criteria for accepting you for cover. You need to shop around, comparing not only the initial premium, but also the projected premiums for future years. Policies that are cheaper now may increase rapidly later. In the examples below, we have quoted the premium in year seven.
A man, aged 30, non-smoker, earning R7 500 a month, who requires cover of R150 000 and has a CD4 count of 350. He is not a member of a medical scheme, but is on the government’s antiretroviral programme. AllLife: R290 a month (R394 in year seven) AltRisk: R518 a month (R543 in year seven) Sanlam: R152 a month (R177 in year seven) A woman, aged 50, non-smoker, earning R30 000 a month, who requires cover for R750 000 and has a CD4 count of 600. She is a medical scheme member. AllLife: R810 a month (R1 291 in year seven) AltRisk: R762 a month (R885 in year seven) Sanlam: R290 a month (R435 in year seven)