Absa Life Insurance [2025 Update]

Details of Absa Life Insurance. Information on how to purchase Absa Life Insurance and other facts including, claims, quotes, and contact details.

Life Insurance can be defined as a contract between an insurance policy holder and an insurance company, where the insurer promises to pay a sum of money in exchange for a premium, upon the death of an insured person or after a set period.

See Also>> How to apply for Absa Insurance Claims.

Absa Insurance Company offers one of the best Auto Insurance in South Africa. Find out more information below.

See Also>> Absa Insurance Contact Number

Details of Absa Life Insurance

Absa Life Insurance cover is classified into four. Which are Life Cover, Funeral Cover, Credit Protection Plan, and Absa Life Limited

Absa Life Insurance Life Cover

Absa Life Cover will take care of your loved ones when you are not there to do so. Cover yourself today and ensure that your family’s financial future is secure.

What you need to know about Absa Life cover

Why choose Absa Life Cover?

We were rated the number one life insurer in the 2021 South African Customer Satisfaction Index (SA-CSI).
Get peace of mind for yourself and your family by protecting against unforeseen events, such as death, disability, illness and loss of income.

Benefits for Absa clients

Instant Life: Get your first three Life Cover premiums back after six months if you are an Absa Transactional Banking customer registered for Digital Banking.

Absa Life Cover Policies

Choose life insurance that works for you.

Ultimate Protector

Why Ultimate Protector?

Choose how much life insurance cover you need to care for your family in the event of your passing or disability. Plus, the Absa Ultimate Protector’s benefits increase yearly to protect against the rising cost of living.

Provide for your loved ones: Get cover for natural or accidental death as well as accidental disability.

The choice is yours: Choose the cover that you need, from R100 000 to R1 000 000.

More benefits: The policy has an annual benefit increase to keep you protected.

What you need to know about Absa Ultimate Protector Life Cover

Choose the cover that you need, from R100 000 to R1 000 000
Anyone between the ages of 18 and 64 can apply
Annual benefit increase: The benefit and premium amounts increase by 5% annually on the anniversary date of the policy

Apply now

Get Ultimate Protector now:

Click on the Apply online button below to login to Absa Online and apply online. Apply online.

What you can expect

Ultimate Protector gives you:

Cover for death resulting from natural causes, e.g. a stroke, heart attack or cancer
Cover for death and permanent disability resulting from accidental causes, e.g. a car accident
Choose your amount of cover from R100 000 to R1 000 000. The amount chosen will be the same for both the Death and Disability Benefit
Premiums are calculated based on your age and gender
Easy claim process

Instant Life

Instant Life offers you simple, affordable life insurance, including disability and critical illness cover with no waiting periods or medicals. You choose the cover that you need and have the flexibility to increase or decrease your premiums at any time online.

Provide for your loved ones: Instant Life covers accidents, natural causes, critical illness and disability with no waiting periods.

The choice is yours: Choose the cover that you need from a range of bespoke products. Increase or decrease your cover whenever you want to.

More benefits: Manage your policy online if you want. Change beneficiaries, increase or decrease cover limits or change banking details at your own leisure.

What Absa Instant Life Insurance

What you need to know

Cover of up to R6 million
Covers natural and accidental death, disability and critical illness.

What you can expect

Features

Cover of up to R6 million
20% cash back every 10 years
Optional annual benefit increase of 5% to help keep pace with inflation
Pays cash up to 12 months before death in the event of terminal illness
Covers natural and accidental death
Increase, decrease or cancel your cover any time without penalties
Work Disability Insurance Cover up to R4.5 million
Critical Illness Cover up to R3 million
Get your first three Life Cover premiums back after six months if you are an Absa Transactional Banking customer registered for Digital Banking. Subject to terms and conditions.

Absa Life Insurance Funeral Cover

With the Flexi Funeral Plan, you will know that you and your loved ones will have a dignified and memorable farewell when the time comes.

Cover for you and your spouse from R2.10 per day: Premiums are based on age, and you can choose the cover that suits your needs. With optional Grocery, Unveiling and After-funeral Benefits.

Cover for your children from R10 per month: Get up to R50 000 cover per child. Premiums are based on age. There is no limit to how many children can be covered, and cover remains in place for life.

Get up to double the Funeral Cover payout: If you, your spouse or family members over the age of 18 pass away because of an accident, the payout will be doubled up to a maximum of R100 000, at no additional cost.

What you need to know about Absa Life Insurance Funeral Cover

You cannot claim for death due to natural causes in the first six months of your Flexi Funeral Plan, unless you are replacing similar cover from another insurer where the waiting period has been served.
You cannot claim for death due to suicide in the first 12 months of your Flexi Funeral Plan.
You are covered from day one for accidental death.
You and your spouse can apply for cover as long as you are between 18 and 70 years old.
You can add children, as long as they’re younger than 70 years.
You can add extended members, as long as they’re younger than 75 years old.

What you can expect

Added Features

No medical examinations. Funeral Cover starts when you pay your first premium.
Your loved ones will remain covered if you pass away, if your premiums have been paid for five or more years.
Full funeral cover from day one if you’ve had existing comparable funeral cover for at least six months elsewhere and are switching to Absa.
Add up to eight extended family members to your funeral plan, including your parents, in-laws, brothers, sisters, aunts, uncles, nieces, nephews, cousins, grandparents, grandchildren, great-grandparents and employees.
You and your spouse can get up to R100 000 in funeral cover.
Children and extended family members can get up to R50 000 in Funeral Cover.
Transportation of the deceased to the nearest funeral home in South Africa is included at no additional cost.
Protect yourself against rising costs with cover that increases by only 3% per year.

Absa Life Insurance Credit Protection Plan

An Absa Credit Protection Plan will alleviate your family’s financial burden if you are permanently or temporarily disabled, diagnosed with a critical illness, terminal illness, suffer a loss of income or in the event of your death.

Untimely death: Your loan will be paid in the event of your death.

Disability or illness: Your loan will be paid in full in the case of your permanent disability, terminal illness or critical illness.

Loss of income: Get the monthly instalments on your loan paid for a period of time if you cannot earn an income or are temporarily disabled.

Credit agreements that Absa Insurance cover

Personal or Revolving loans

Personal Loans

An Absa Personal Loan between R1 000 and R350 000 from the age of 18 years
If you become temporarily disabled or cannot earn an income, the plan covers the monthly instalment of your loan for a limited time
In the event of your death, permanent disability, critical illness or terminal illness, the outstanding balance on your loan will be paid.

Revolving Loan

An Absa Revolving Loan with a limit of up to R350 000 from the age of 18 years
If you become temporarily disabled or cannot earn an income, the plan will pay a monthly amount equal to 5% of the average outstanding balance on your facility
In the event of your death, permanent disability, critical illness or terminal illness, the outstanding balance on your facility will be paid.

Plan A	Plan B
Death	Death
Permanent Disability	Permanent Disability
Temporary Disability	Temporary Disability
Terminal Illness	Terminal Illness
Critical Illness	Critical Illness
Loss of income	–

Study loans

We cover your study loan if:

You are 18 years or older;
You have an Absa Study Loan of at least R15 000. The maximum sum assured is determined by the loan amount granted (subject to maximum limits); and
You are earning an income for Plan A. Otherwise, Plan B will be offered.

The benefits are:

If you become temporarily disabled or unable to earn an income, the plan covers the monthly instalment of your loan for a limited time
Multiple claims are allowed for temporary disability and loss of income
In the event of your death, permanent disability, critical illness or terminal illness, the outstanding balance on your loan will be paid
Only the sponsor can be covered.

Plan A	Plan B
Death	Death
Permanent Disability	Permanent Disability
Temporary Disability	Temporary Disability
Terminal Illness	Terminal Illness
Critical Illness	Critical Illness
Loss of income	–

Credit card

We cover your credit card if:

You are 18 years or older;
You have an Absa Personal Credit Card with a limit of up to R300 000; and
You are earning an income, are not older than 63 years and full-time employed for Plan Ax, otherwise Plan Bx will be offered to you if you are not earning an income.

The benefits are:

The outstanding balance on your personal credit card is paid out in the case of death, permanent disability, terminal illness or critical illness.
If you become temporarily disabled or cannot earn an income, the plan will pay 5% of the outstanding balance monthly for a limited time.
Multiple claims are allowed for both the Temporary Disability and Loss of Income Benefits.

Plan Ax	Plan Bx
Death	Death
Permanent Disability	Permanent Disability
Temporary Disability	Temporary Disability
Terminal illness	Terminal illness
Critical Illness	Critical Illness
Loss of income	–

Overdraft facilities

We cover your overdraft facility if:

You are 18 years or older;
You have an Absa Overdraft with a limit of up to R150 000; and
You are earning an income for Plan A. Otherwise, Plan B will be offered.

The benefits are:

If you become temporarily disabled or cannot earn an income, the plan will pay a monthly amount equal to 5% of the average outstanding balance on your facility
Multiple claims are allowed for both temporary disability and loss of income
In the event of your death, permanent disability, critical illness or terminal illness, the outstanding balance on your facility will be paid.

Plan A	Plan B
Death	Death
Permanent Disability	Permanent Disability
Temporary Disability	Temporary Disability
Terminal Illness	Terminal Illness
Critical Illness	Critical Illness
Loss of income	–

Vehicle and Asset Finance

The benefits are:

Your loan will be covered in the event of death, temporary and permanent disability, critical illness and loss of income, depending on the plan selected
In the event of your death, permanent disability, critical illness or terminal illness, the outstanding balance on your facility will be paid
If you become temporarily disabled or cannot earn an income, the plan covers the monthly instalment of your loan for a limited time.

Plan options:

Plan A: Death, Terminal Illness
Plan B: Death, Permanent and Temporary Disability, Terminal Illness
Plan C: Death, Permanent and Temporary Disability, Critical Illness and Terminal Illness
Plan D: Death, Permanent and Temporary Disability, Terminal Illness, Critical Illness and Loss of Income
Plan E: Death, Terminal Illness and Loss of Income.

Home loans

We cover your home loan if:

You have a Home Loan with Absa;
You are 18 years or older;
The maximum sum assured is determined by the home loan amount granted up to a maximum of R2 million; and
You are earning an income for Plan A. Otherwise Plan B will be offered.

The benefits are:

If you become temporarily disabled or cannot earn an income, the plan covers the monthly instalment of your home loan for a limited time
In the event of your death, permanent disability or terminal illness, the outstanding balance on your home loan will be paid
Multiple claims are allowed for temporary disability and loss of income.

Plan A	Plan B
Death	Death
Permanent Disability	Permanent Disability
Temporary Disability	Temporary Disability
Terminal Illness	Terminal Illness
Critical Illness	Critical Illness
Loss of income	–