Medscheme Life Insurance is a subsidiary of Old Mutual Life Assurance Company (South Africa), a registered Financial Services Provider which is itself a wholly owned subsidiary of Old Mutual South Africa. Medscheme Life was originally founded in 2001 by Medscheme Holdings Limited and subsequently acquired by Old Mutual (South Africa) in 2009. Medscheme Life Insurance. With backing from one of the largest financial services provider in Southern Africa, Medscheme Life Insurance is a financially sound entity providing clients with the peace of mind that their cover will be honoured.
Medscheme Life Insurance is renowned for offering a flexible product range, a quick and reliable application process and an efficient administration and claims handling procedure. The company relies on a specialized Actuarial Team to design customized risk solutions for the right segment at the right premium. Medscheme Life Insurance believes in marketing their affordable solutions directly to the public via specialized marketing campaigns. The company also works in conjunction with their client- partners such as independent brokers, funeral parlors and employers.
Life Insurance Cover
Medscheme Life understands the critical importance of providing your family with a secure financial future. The Guaranteed Life Plan from Medscheme is a simple and affordable plan offering life insurance cover. The qualifying criteria for this type of cover is for members below the age of 55 years with an annual income of not more than R120 000.
Medscheme Life Insurance provides a Comprehensive Funeral Plan which helps to cover the funeral expenses of the covered member. There are additional benefits available at no extra cost such as trauma, assault and HIV treatment and legal support.
Hospital Cash Plan
With the escalating costs of hospitalization, Medscheme Life realized the need for an affordable Hospital Cash Plan that will provide you with a daily income to offset the financial expenses which you will incur whilst in hospital. This daily income is paid directly into your account from day 2 of admission into hospital regardless on whether or not the hospitalization was at a private or state hospital.
Medscheme Life Insurance understands that cancer is a high risk disease with statistics showing that at least one in four people will be diagnosed with cancer in South Africa. In the event of a diagnosis, the cancer plan will pay a lump sum benefit to the main life assured in order to assist with any medical expenses associated with the treatment which may not be covered by the medical aid.
Group Life Insurance
The Medscheme Group Life Insurance portfolio provides employers, companies and affiliated companies with a wide range of life insurance products which include dread disease, life cover, group funeral cover, permanent health and disability.
The Medscheme Group Life Insurance provides a cash payout to the dependants of the main life assured in the event of the death of the main member.
Dread Disease Cover
In the event that the employee is diagnosed with a dread disease as defined in the policy, the Medscheme Dread disease cover pays out a tax-free lump sum benefit to the employee.
The Medscheme Life Disability Cover offers a wide selection of disability cover products which include short-term disability income products and long-term disability income products.
Permanent Health Assurance
Permanent Health Assurance is a product that caters for the needs of employees who may be rendered permanently disabled and unable to work as a result of bodily injury or illness.
Group Funeral Cover
Upon the death of the Main Life Assured, the Medscheme Life Group Funeral cover pays out a cash benefit which is not subject to tax to the nominated beneficiaries.
MedScheme Life Contact Details:
Tel: 011 671 2000