Metropolitan Life Insurance South Africa | Life, Health and Funeral Plan
You are on Uni24.co.za, in this article, we bring to you everything to know about Metropolitan Life Insurance. An insurance company is any firm that provides a means by which risk is managed. Put it this way, Metropolitan Life Insurance sells packages that offer protection against unexpected life circumstances in relation to damages, loss, theft or any bad situation.
With that said, Metropolitan Life Insurance provides an array of insurance protection categorized into four groups. These are Metropolitan Life Insurance Motor Insurance, Metropolitan Life Insurance Health Insurance, Metropolitan Life Insurance Business Insurance, and Metropolitan Life Insurance Home Insurance. These are some but a few of the insurance services this company offers. Other areas of protection include Fire Insurance, Life Insurance, Liability Insurance, Travel Insurance, and many more.
About Metropolitan Life Insurance
You might know us as part of Momentum Metropolitan Life Limited, a licensed life insurer and an authorised financial services (FSP44673) and registered credit provider (NCRCP173).
We were established in 1897 in Paarl in the Western Cape as African Homes Trust – a syndicate formed to provide finance to those who could not afford to buy their own homes. And while our name has changed and we’ve grown organically and through mergers, our mission remains the same – to help South Africans reach their financial goals, in good times and bad.
We might be one of the biggest financial services companies in South Africa, but we will always put our clients first and treat them with respect. And we are proud to have remained at the top of the South African Customer Satisfaction Index (SAcsi) for a number of consecutive years.
We believe that financial literacy paired with expert advice enables you to make good decisions about your money. To help you achieve this, we have over 140 branches throughout South Africa as well as centres of service in Namibia, Botswana, Kenya, Ghana, Lesotho and eSwatini.
Services of Metropolitan Life Insurance
Metropolitan Funeral Plan : Cover for you, your immediate and extended family members.
Life Cover : Protect your family’s future
HealthCare CashBack Cover : Get cash for unexpected hospital expenses
Disability Cover : Get cover if you’re hurt and can’t work
Critical Illness Cover : Get cover if you’re seriously ill and can’t work
Contacts of Metropolitan Life Insurance
Our head office details
Metropolitan Life Insurance FAQ
What is life and healthcare cover?
Life cover, or life insurance, is an insurance policy that pays out a sum of money when you die. Having a life insurance policy will ensure that your loved ones will receive a cash amount, which they can use to:
- Replace lost income by covering household and other daily expenses.
- Pay off debt such as a bond, vehicle finance loan or credit card.
- Contribute towards a child’s education
While life cover takes care of your loved ones’ wellbeing when you’re no longer around, healthcare cover will help you take care of expenses because of a stay in hospital. Unlike medical aid or health insurance which typically covers the costs of medical treatments like doctors’ or hospital expenses, your healthcare plan pays out a cash amount for each day you spend in hospital.
What does a life cover plan do?
A life cover plan gives you and your family some financial stability and peace of mind when you need it most. Some of us only need protection until we stop working, while others want to be remembered by leaving a gift of money when we die; or want to help the next generation of our family build and grow a better financial future. Your circumstances are unique, and our life cover plans allow you to live your life knowing your loved ones will not be financially burdened when you can no longer provide for them.
What does a healthcare cover plan do?
A healthcare plan provides a daily cash amount for each day you spend in hospital. Our healthcare cover covers you, your immediate family and your parents. It pays double the daily benefit amount if you are admitted to ICU.
Even if you are not hospitalised, our healthcare plan’s unique benefits give you access to a doctor seven days a week. It also offers accident cover and funeral cover as optional extras while a loyalty bonus and no-claim bonus put cash back in your pocket.
What is the difference between a healthcare plan and medical aid?
A healthcare plan covers unexpected expenses that are a result of a hospital stay.
It’s not a medical aid. It’s a cash amount you can use towards paying for your everyday living costs; as well as for any unexpected expenses because of an injury or illness that result in a hospital stay. You can use the money to cover income loss, extra costs like a caregiver for your children and financial support for your family.
A medical aid helps you pay for medical costs in and out of hospital.
A medical aid covers costs for medical treatments or procedures like doctors’ visits, medication, blood tests, X-rays, optometry, dentistry, and more. Each medical aid’s benefits are different, and they also differ depending on the type of plan you choose. Generally, the more the plan covers, the more you pay. No matter what level of cover you take, all medical aids must cover prescribed minimum benefits that include procedures done in hospital and chronic conditions, like high blood pressure, diabetes, and others.
How to apply for life and healthcare cover?
Contact your financial adviser and ask them to set up time to tell you more about Metropolitan’s life and healthcare plans.
If you don’t have a Metropolitan financial adviser yet:
- Use our chatbot on our website and a qualified financial adviser will get in touch with you.
- Call our Service Centre on 0860 724 724 and ask the agent to arrange for a financial adviser to contact you.
Contact or visit your nearest Metropolitan branch and ask to speak to a financial adviser who can tell you more about Metropolitan’s life and healthcare plans.
What do I do if I need to make a claim on my life insurance policy?
Metropolitan’s proudly South African service centre agents can answer any questions you have. Call 0860 724 724 to speak to one of our friendly client service agents or visit one of our branches. You can also use our WhatsApp chatbot to start the claims process by sending a WhatsApp to 0860 724 724 and typing “Hi” to start the process. We’ll let you know what documents we’ll need from you.
Frequently Asked Questions on Insurance in South Africa
Does Life Insurance Pay for Suicidal Death?
The answer to this question varies from one insurance company to the other. However, most insurance companies include a suicide clause in their life insurance policies. This simply means that the first two years of a life insurance policy do not cover suicide-related circumstances. This is done to protect the firm from situations where a policyholder purposefully commits suicide with the hope of winning his family or beneficiaries’ payouts. But in the case of a life insurance policyholder whose been with the firm for more than 2 years, a death benefit is paid out to the beneficiaries.
What Is Short-Term Insurance?
Short-term insurance is any insurance policy that lasts for an hour, day, week or month. These policies are designed for very short-term needs. It should however be noted that some insurance companies offer longer durations under this package. Generally, they provide protection against theft, damage to goods or property or any other form of liability.
What Is Excess in Insurance?
Excess in insurance is generally the amount of money you have to pay to cover your insurance claim. This allows the insurance to pass on an agreed amount of the risk to the policyholder and is included in the policy. So in the event of an insurance claim, the beneficiary pays a portion of the claim cost and the insurance company pays the rest.
