South Africans place too much emphasis on funeral cover and too little on life cover, said African Rainbow Life CEO Bongani Madikiza this week.

With the backing of Sanlam and Patrice Motsepe's African Rainbow Capital (ARC), Madikiza launched a new life insurer aimed at low and middle income clients. While African Rainbow Life also offers funeral policies, it is hoping to gain traction with life cover, dread disease cover and disability cover in households that earn between R3,000 and R30,000 a month.

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, Morningstar financial data, and digital access to the Sunday Times and Times Select.

Already subscribed? Simply sign in below.



Questions or problems? Email helpdesk@businesslive.co.za or call 0860 52 52 00.