There are several options available and these include:

• Life Cover
Pays out a lump sum amount in the event of death. The beneficiary of this policy can use the funds in whatever way they choose. If the policy is used as surety for a home loan, it will be used to pay off the outstanding loan amount. The policyholder will decide the duration of the cover (a term policy, or whole of life) and how much cover is required.

• Disability Cover
Pays out a lump sum amount in the event of the policyholder becoming permanently disabled and is unable to work. The policyholder can use the funds in whatever way they choose. The policyholder will decide the duration of the cover and how much cover is required. However, cover ceases at retirement (in most cases at age 65).

• Income Disability
Pays a monthly income when the policyholder is unable to work due to illness or injury. The injury or illness need not be permanent. These policies include waiting periods. Once the waiting period has lapsed, the policyholder will receive an income and will continue to receive a monthly income for as long as the policyholder is unable to work. However, cover ceases at retirement (in most cases at age 65).

• Critical Illness
Pays out a lump sum amount if the policyholder is diagnosed with any of the specified severe illnesses. These severe illnesses include cancer, stroke, heart attack and bypass. Other options are available which include extensive illness cover.