Simply Financial Services innovates in group life insurance for SMEs in SA
New life-insurance package is believed to be a first for the South African market
Businesses looking to provide quick and easy life insurance for their employees can now get it online with insurance technology company Simply Financial Services. The product is a life-insurance combination comprising life, disability and/or funeral benefits – specially designed for small to medium-sized businesses (SMEs) in South Africa. Best of all, you can get it all online in less than 20 minutes. Called Simply Group Cover, the online combination is believed to be a first for the local market. It provides benefits of up to R2-million cover for life and disability and up to R50,000 family funeral cover (including spouse and up to five children). Combinations are entirely customisable, so employers can choose the cover they can afford and want to give to their employees. “Traditionally, group life insurance has been dominated by large insurance companies and sold by brokers. Commission is regulated at relatively low levels and it often doesn't make financial sense for brokers to ...
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