Tired of long insurance telephone calls?? By completing this form, we will fast track the process. Saves you at least 15 minutes instead on being on a call. Come on you are a digital person, right?
We have a wide range of insurance products, ensuring that we can meet all your coverage needs. Our team of seasoned professionals possesses in-depth knowledge, so you are in capable hands.
Funeral Cover
Funeral cover provides a lump-sum payment to cover funeral and burial expenses. Upon the policyholder’s death, the insurer pays out a predetermined amount to the beneficiaries.
It alleviates the financial burden of funeral costs, ensuring that loved ones can honour the deceased without worrying about expenses, typically providing quick access to funds for immediate needs.
Term Life Insurance
Term life insurance provides coverage for a specified period, usually 10, 20, or 30 years. If the policyholder dies during the term, the beneficiaries receive the death benefit. If the policyholder outlives the term, the coverage ends unless renewed or converted to a permanent policy.
This product offers a straightforward and affordable way to provide financial protection for dependents during crucial periods, such as while paying off a mortgage or funding children’s education.
Whole Of Life Insurance
Whole of life insurance provides lifelong coverage; the cover is payable on the death of the policy holder. Upon the policyholder’s death, beneficiaries receive the death benefit. It ensures financial security for beneficiaries.
Joint Life Death Cover
Joint life death cover is a life insurance policy that covers two people, typically spouses or partners, under a single policy. Often more affordable than two separate individual policies, making it a cost-effective way to obtain life insurance for both partners.
The policy can be structured in one of two ways: First Death: The policy pays out upon the death of the first insured person. The coverage then ends. Second Death: The policy pays out after both insured individuals have passed away.
Joint life death cover provides comprehensive protection for couples, ensuring that the surviving partner or beneficiaries are financially supported and can cope with the financial challenges that may arise after the loss of a loved one.
AVAILABLE PRODUCTS
Disability Insurance
We have a wide range of insurance products, ensuring that we can meet all your coverage needs. Our team of seasoned professionals possesses in-depth knowledge, so you are in capable hands.
Income Protection
Income protection insurance provides a monthly income if you are unable to work due to illness or injury. After a waiting period, policyholders receive a percentage of their regular income (usually up to 75%) until they can return to work or reach retirement age.
It ensures financial stability by replacing lost income, helping cover living expenses, medical bills, and ongoing financial commitments during a period of disability.
Dread Disease (Critical Illness) Insurance
Dread disease insurance provides a lump-sum payment upon diagnosis of a specified critical illness, such as cancer, heart attack, or stroke. After diagnosis and a survival period (usually 14 to 30 days), the policyholder receives a lump-sum payment to use as needed.
It offers financial support during a critical illness, helping cover medical expenses, loss of income, and lifestyle adjustments, ensuring that the policyholder and their family can focus on recovery without financial stress.
Permanent Disability Insurance
Permanent disability insurance provides a lump-sum payment if you become permanently disabled and are unable to work again. Upon confirmation of permanent disability by medical professionals, the policyholder receives a one-time payment.
It offers financial support to adapt to a new lifestyle, including covering medical expenses, home modifications, and ensuring long-term financial security for the disabled individual and their family.
Temporary Disability Insurance
Temporary disability insurance provides financial support for a specified period if you are temporarily unable to work due to illness or injury. After a waiting period, policyholders receive regular payments for a set duration or until they can return to work, whichever comes first.
It bridges the income gap during recovery, ensuring that short-term disabilities do not lead to financial hardship by covering everyday expenses and medical costs.
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Investments & Savings
We have a wide range of insurance products, ensuring that we can meet all your coverage needs. Our team of seasoned professionals possesses in-depth knowledge, so you are in capable hands.
Unit Trusts
Unit trusts pool money from multiple investors to invest in a diversified portfolio of assets, managed by professional fund managers. Investors buy units in the trust, and the value of these units fluctuates based on the performance of the underlying assets in the market. There are different types of unit trusts, including equity, bond, and balanced funds.
It offers access to a diversified investment portfolio with the potential for higher returns compared to traditional savings accounts, suitable for medium to long-term investment goals.
Retirement Annuity (RA)
An RA is a long-term savings product designed to provide income during retirement. You make regular contributions, which are invested in a portfolio of assets. The contributions are tax-deductible, and the investment grows tax-free until retirement, when you can start drawing an income.
It helps individuals save for retirement in a tax-efficient manner, ensuring financial security in their later years with a steady stream of income.
Tax-Free Savings Account (TFSA)
A TFSA allows you to save and invest money without paying tax on the interest, dividends, or capital gains earned. You can contribute up to a specified annual limit, and the investments grow tax-free. Withdrawals are also tax-free.
It maximizes your savings by eliminating tax on investment growth, making it an excellent vehicle for long-term savings goals such as retirement or education funding.
Endowment Policy
An endowment policy is a savings plan combined with life insurance, maturing after a specified term. You make regular premium payments over a fixed period. At the end of the term, you receive a lump-sum payout, which includes the investment returns. If the policyholder dies before the term ends, the beneficiaries receive the death benefit.
It provides a disciplined savings approach with the added benefit of life insurance coverage, making it suitable for medium to long-term savings goals such as funding education, paying off a mortgage, or saving for a significant purchase.
BMI Calculator
A BMI (Body Mass Index) calculator is a tool used to determine an individual’s BMI, which is a measure of body fat based on their weight and height. It helps categorise individuals into different weight categories, such as underweight, normal weight, overweight, and obese, providing a general indication of whether you have a healthy body weight relative to your height.
There is a strong correlation between your BMI and body fat. The more heavier you are, the higher your BMI is and usually points to you having more body fat. Interestingly, body builders may have a high BMI but their body fat content is low. This is due to the fact that muscle is heavier than protein.Your BMI on its own is a very important indicator of whether your weight is within a health range or not. A higher BMI indicates a greater risk of several diseases including hypertension (high blood pressure), hyperlipidaemia (high blood cholesterol and other fats), diabetes mellitus (sugar diabetes) and the risk of strokes and heart attacks.Besides your BMI, other factors also need to be taken into account like the circumference of your waist and tummy. Tummy or central plumpness is the accumulation of fat around the abdomen. If you have tummy obesity although your are within a normal BMI range, you can still be at risk of a serious health conditions.
But in today’s competitive markets there are so many options to choose from.
At XINIX we strive to make insurance products as easy to understand as possible. So, if you are currently considering any long-term insurance products we have available, here is some FAQs to help you understand this a little better.
So where to begin?
Above is our easy to use life insurance form, why not try it to get a sense of what your long term insurance needs might be and what we require in order to get you going?
Want Life Insurance, here’s how
With the pandemic ripping through our country, on and off, first wave, second, third, we have had numerous clients contacting us to assist in revaluating their financial wellbeing.
Getting life cover need not be complicated. At XINIX, we have in fact transformed the process with a hybrid version of both online questionnaires and face-to-face / Zoom or MS Teams online meetings.
What you will find here, is transparency and a user-friendly process that will make taking out life insurance straight forward and easy, BUT still with the added advantage of skilled, qualified, and competent financial advisors who will hold your hand through the process.
So, here’s how it works:
Step 1
Complete the online questions
Step 2
Download the consent letter, sign, and return to life@xinixinsurance.co.za
Step 3
A qualified financial advisor will personally call you to set up, either a face to face or online meeting.
Step 4
At the meeting or before, it all depends on you, the advisor will get to know you better, answer your questions and do a financial needs analysis using your completed questionnaire as a guideline. You will have view on some quotes prepared.
Step 5
We will give each other time to action anything that needs to be done and a follow up meeting will be scheduled.
Step 6
We look forward to becoming family, partnering to service you as we navigate life together.
What covers do I need to consider?
*Income protection against dying or being disabled;
* Goal savings. This will include all your financial goals, whether short or long term;
* Retirement savings. This should be treated separately from your other financial goals because of its importance; and
* Health assurance. Your medical scheme as well as hospital and chronic disease cover must be measured to see if they meet your needs.
The question is – how much money can you allocate to each of the above, and what will this buy you?
The best place to start is with how much risk assurance you need against dying or being disabled.
When you decide how much risk assurance you need, you must take the following into account:
* What you will need if you become disabled;
* Whether you have dependants, how many, and what their needs will be if you die or become disabled;
* Your assets. The more assets you have, the less you need in assurance. If you are wealthy, you do not need as much risk assurance as someone with low accumulated wealth but a high income;
* Your liabilities. What happens to your debts if you die or are disabled? The more money you owe, the more risk assurance you will probably need, and the greater the necessity for a properly constructed and targeted savings and investment plan;
* Your income and spending: Your current and future income and spending will determine the design of your financial plan, allowing you to decide on risk and/or investment priorities and what you can leave until later when you are earning more.
* Your health. If you are healthy, you can take a greater chance of meeting your risks through your income than someone who is unhealthy;
* Your current risk cover. Assess your current cover for death and disability to see if you have too much or too little, bearing in mind any benefits you will receive from a retirement saving plan, whether it is employer sponsored or attached to a retirement annuity; and time period. You need to break your risk insurance into different periods. For example, you do not need life insurance to cover the education of children until you are 70.
When assessing your life insurance needs, remember that you should aim to leave your dependants an adequate amount of money. Rather than leaving them immensely wealthy, you should use as much as possible to improve your wealth, particularly for your retirement.
Life Insurance 102
How does Life cover work?
When you die, your beneficiary receives a tax-free, once off lumpsum payment, dependent on the cover amount you chose.
How much will I pay per month for life cover?
Your premium is determined by your age, risk profile (i.e. health, smoker status, etc.) and the amount of cover your require.
I have life cover through my employer, is that enough?
Some companies pay death in service benefits, if you die while you are still employed and is usually 2 or 3 times your annual salary. If you leave this employer these benefits fall away. A Financial Advisor will be able to identify through the process of a needs analysis, if the life cover with your employer is adequate or not based on your specific needs.
What is the difference between funeral cover and life cover?
Funeral cover insures you for when your death occurs and funeral services needs to be arranged, the funeral cover will cover the expenses/costs needed for the funeral.
Life cover is to secure the financial well being of your loved ones in the event of your death.
Do I need to go for medicals?
Yes, the insurers we work with will require you to go for medicals and you will have underwriting done prior to putting the policy in place. This will ensure an easier process at the time of a claim. The cost of the medicals will be paid by the insurer. You can consider it as a free medical check up.
Do I only need life cover?
There are many other covers which can be taken with life cover. Cover like disability cover and severe illness cover is also usually taken out together with life cover.
What is Disability Cover?
This is cover which you would take out in the event of becoming permanently disabled. The insurer will pay a lump sum benefit to you, where your claim is approved. This will allow you to make necessary renovations as a result of your disability. E.g. for moving around in a wheel chair and also to assist in paying off your outstanding debt.
What is Severe Illness cover?
This type of cover will cover you in the event of you being diagnosed with a terminal illness eg cancer, heart attack etc. The benefit will pay out dependent on the severity of the illness and this will assist in covering extra medical costs and paying off debt in the event that you are not able to work anymore.
Is there any waiting period for suicide?
Yes, there is a 2 year waiting period for suicide, if a suicide happens before 2 years there will be no cover.
What is the minimum and maximum entry age for Life Cover?
Dependent on the insurer, but most work within a range of a Minimum 15 years and Maximum 62 years.
What is the minimum and maximum entry age for Disability Cover?
Dependent on the insurer, but most work within a range of a Minimum 15 and Maximum 62 years.
What is the minimum and maximum entry age for Severe Illness Cover?
Dependent on the insurer, but most work within a range of a Minimum 15 and Maximum 62 years.
What is the minimum and maximum cover amount for Life cover?
Dependent on the insurer, but most work within a range of a Minimum R150 000 with no maximum, however anything over R7 million will require financial underwriting.
What is the lumpsum minimum and maximum cover amount for Disability?
Dependent on the insurer, but most work within a range of a Minimum R50 000 and Maximum R35 million.
What is the minimum and maximum cover amount for Severe Illness?
Dependent on the insurer, but most work within a range of a Minimum R50 000 and Maximum R6 million.
Is Life cover offered as a standalone benefit?
Yes, Life cover can be taken as a stand alone, you do not need to take any other cover with it to get life cover. In fact, most insurers offer all the benefits as a standalone benefit.
How would I know what cover is right for me?
Based on your needs and your lifestyle, our qualified financial advisors will be able to take you through the entire process to determine the cover needed to suit your specific needs best. Also you can make use of our cover calculators when completing the life questionnaire which also guides you on how much cover you may need.
Will I get anything back if I do not claim for a long period of time?
There are cash back options that is offered on our products at an additional charge, our advisors will be able to discuss these benefits better with you. Some of our insurer partners, in addition to cashbacks have loyalty rewards that result in you receiving cash lumpsums for keeping your policy active and for not claiming.
What will happen if I don’t pay my premium?
Not paying your premium will result in a double debit the next month and if it is also unsuccessful this will result in the policy lapsing / cancelling. Your cover will end.
Does my cover amount increase yearly?
You have the option of deciding whether you would like a benefit increase yearly or not. A financial advisor will be able to assist you at best, dependent on your needs.
Can my premium stay the same if I choose not to increase my benefit?
Yes, you can guarantee your premium and benefit amount for a specific period. Example 10 years. After the 10 years have expired, your premium will be reviewed, and the premium may change.
Our Client Education Quizzes
Think you can out smart these questions?? Hmm, let’s see if you can?
