What is Old Mutual Future Insurance?
Why is this important? Your insurance needs will change over time - you may need to buy additional cover in the future. If your health changes though, you may not get the cover you need. Future Insurance helps you avoid the insurance hassles of tomorrow.
Choosing the right cover doesn’t have to be daunting. With the help of your adviser, you just need to follow these three quick and easy steps.
With Old Mutual Protect Future Life Cover we’re making it easy for you to act today to avoid the insurance hassles of tomorrow.
Old Mutual Protect Future Life Cover
How much cover can you apply for?
From R400 000 and limited to what you qualify for
Cover you can buy in the future without going for medical tests
Old Mutual Protect Life Cover
Old Mutual Protect Life Income Cover
Old Mutual Protect Business Life Cover
Add on Disability insurance, Illness insurance or both
Allows you to also buy Disability and Illness insurance in the future without going for medical tests
When can you use your option to buy more cover without going for medical tests?
Every second anniversary of your Old Mutual Protect Future Life Cover contract
Getting married
Birth or legal adoption of a child
Diagnoses of specified child illnesses
Child registering for studies
Salary increase of 25% or more
New or increased bond on a property
New business with a buy and sell agreement
25% or more increase of share in business
Start a new business and need key person insurance
25% or more increase in value as key person to a business
Increase in business debt obligations
Getting separated
Death of a spouse/partner
Death of a business partner with a buy and sell agreement
Add on Premium Protection
To ensure that premiums are no longer payable and the option to buy cover in the future without medical tests remains if the premium payer becomes disabled, impaired, is retrenched or dies
Old Mutual Protect Future Life Cover
Benefits
How much cover can you apply for?
From R400 000 and limited to what you qualify for
Cover you can buy in the future without going for medical tests
Old Mutual Protect Life Cover
Old Mutual Protect Life Income Cover
Old Mutual Protect Business Life Cover
Add on Disability insurance, Illness insurance or both
Allows you to also buy Disability and Illness insurance in the future without going for medical tests
When can you use your option to buy more cover without going for medical tests?
Every second anniversary of your Old Mutual Protect Future Life Cover contract
Getting married
Birth or legal adoption of a child
Diagnoses of specified child illnesses
Child registering for studies
Salary increase of 25% or more
New or increased bond on a property
New business with a buy and sell agreement
25% or more increase of share in business
Start a new business and need key person insurance
25% or more increase in value as key person to a business
Increase in business debt obligations
Getting separated
Death of a spouse/partner
Death of a business partner with a buy and sell agreement
Add on Premium Protection
To ensure that premiums are no longer payable and the option to buy cover in the future without medical tests remains if the premium payer becomes disabled, impaired, is retrenched or dies
Take a look at some of the frequently asked questions below.
- You choose if and how you want your cover to increase.
- If you stop paying premiums the cover stops. It's important to get in touch with your adviser before this happens so that he or she can assist you with possible solutions.
- As this product is not an investment, you won't receive any money if you cancel it.
This document contains all the rules and disclosures related to the product and the benefits available. It has been provided so that you can make an informed decision about the product. This is an indication of the contract you will receive if we accept your application but that contract will only include the benefits and options you have selected and we have accepted.
Download the Old Mutual Protect Future Life Cover terms and conditions.
Future Insurance is available from your financial adviser. Unlike off-the-shelf products, this one is designed around what you need and want. Your adviser is best placed to help you build your customised cover. If you don't have an adviser, please call us on 0860 60 60 60 or find an adviser here.
You can enhance your cover by adding Disability or Illness insurance at an extra cost, so you can buy any of the following cover in the future:
Disability insurance that pays a single tax-free amount amount:
Old Mutual Protect Disability Cover or Old Mutual Protect Business Disability Cover pays if you can’t work or take care of yourself because you are permanently disabled or impaired.
Old Mutual Protect Functional Impairment Cover pays if you can’t take care of yourself because you are permanently impaired.
Old Mutual Protect Physical Impairment Cover pays if an illness or injury permanently impairs you, such as hearing loss or the loss of a limb.
Disability insurance that provides a monthly tax-free payment:
Old Mutual Protect Disability Income Cover or Old Mutual Protect Business Expenses Cover pays if you can't work or contribute towards business expenses or take care of yourself because you are temporarily, partially or permanently disabled or impaired.
Old Mutual Protect Functional Impairment Income Cover pays if you can’t take care of yourself because you are temporarily, partially or permanently disabled or impaired.
Illness insurance that pays a single tax-free amount:
Old Mutual Protect Severe Illness Cover or Old Mutual Protect Business Severe Illness Cover pays a percentage of your cover amount if you suffer a listed illness.
Cashback pays back a percentage of your premiums every five years on the cashback anniversary - putting money back in your pocket.
This benefit ensures that cover continues if the premium payer (this could be someone other than you) becomes disabled, impaired, is retrenched or dies.