ANALYSIS OF INSURANCE PORTFOLIOS

Benefit

Old polices (over 5 years)

New age policies

Life cover

· Usually does NOT cover sports
· Should always get proof in writing

· Can stipulate that sport is covered

Disability cover

· Only protects against occupation
· Thus limits claims
· Disability claims reduces life cover
· Disability expires at age 50 or 55
· Disability cover is not protected against             extreme sports

· Protects against occupation and physical   impairment
· Disability cover available as a stand        alone policy
· Cover expires at age 65 or 70
· Disability is protected against extreme     sports

Disease cover

· Usually expires at age 65
· Not comprehensive cover
· Can only claim once
· Reduces life cover

· Cover is for whole of life
· Fully comprehensive cover
· Multiple claims
· Wont reduce life cover

Income Insurance

· Not protected against extreme sports

· Can get protection against extreme        sports

Premiums

· Mixture of investment and risk
· Premiums work out more expensive

· Risk only premium
· Because premiums only have risk            portion, they are cheaper

Surrender Values

· Older polices have cash free surrender values

· New age policies will never have               surrender values

Life Company

Old/ Traditional Policy

New Age Policy

Old Mutual

Flexi Universal

Greenlight

Discovery Life

N/A

The Discovery Life Plan

Sanlam

The One Policy for Life Cover

Matrix

Liberty Life

Universal Lifestyle, Penta Plus, GRL

Lifestyle Protector

Momentum Life

Crescendo

Myriad