Owned by FirstRand Limited, Momentum is one of the largest insurance companies in South Africa. It offers a variety of financial products to the consumer which include investment products, retirement products, and medical products. Our focus here, however, is on their Life Insurance options.
Firstly Momentum offers a death benefit. This will payout a lump sum to your beneficiaries in the event of your death. As the primary breadwinner it is essential to have this type of cover to protect your loved ones and not leave them financially destitute. There are other features that can be added to this policy. You can have money paid out to you straight away for funeral expenses. You can also have the option to be paid out should you be diagnosed with a terminal illness.
They also have Unnatural Death Cover. This covers you should you die from unnatural causes including such things as a motor vehicle accident. This type of cover is aimed mostly at people who cannot receive life insurance due to ill health, such as being HIV positive.
Funeral Cover is designed to take care of the immediate expenses of your beneficiaries such as funeral costs and other costs related to the death. It will be paid out within one day of the death of the insured party.
Momentum Myriad also provides package life insurance solutions including the following:
Momentum provides a broad spectrum of policies which can help make the loss of a loved one less traumatic and provide you with the necessary financial assistance.