Assistance with the issuing of letters of executorship.
March 16, 2026
The importance of a premium waiver.
What is a premium waiver?
A waiver of premium is a type of add-on cover, also known as a "Rider", That can be added to your life insurance policy. It can cover your monthly premiums if you can't work because you've been seriously injured or are critically ill.
Let's look at an example of a case:
A client receives an amount of R 48 000 p.m. as he claimed due to a serious injury, making him unable to work and therefor his income protection pays out, but now because of the Premium waiver option not selected, his premium is R 12 000.00 p.m. due to the yearly premium increase. making his total income protection R 36 000.00 p.m. As you can see the premium waiver option plays a vital role in claim stage.
What are the costs of the premium waiver options?
This depends on your age: A 57 year old man that doesn't smoke and has R 1 000 000.00 severe illness cover can pay around R 400.00 p.m. extra on his life policy & R 250.00 p.m. extra on 45 000 p.m. income protection.