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BoE Life Assurance Company

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BoE Life Assurance Company/ Nedgroup Life Assurance is part of the Nedbank group, established with the aim of providing life insurance products. The new 360Life product range offers protection for the insured and beneficiaries in case of accidental or natural death. The insurance amount is paid in lump sum to the beneficiaries, meant to adequately provide for those left behind.

The 360Life now comes with a Rider benefits package, especially created to cover critical illness benefits to the children of the insured.

360Life Plan Benefits

This is the main product of BoE Life Assurance, which is very flexible and affordable, offering several inclusive and additional benefits that favor that insured and his or her family.

Death benefits include:

• Lump sum payment to the beneficiary
• Death income benefit that provides a monthly cash annuity to the beneficiary until he or she reaches the age of 66
• Unnatural (accident) death benefit covers a lump sum payment if the insured dies immediately due to an accident or dies 90 days after because of the accident

Disability benefits:

Lump sum payment that can be in the paid in the following manner:

• Occupational disability (for the insured) – the payment is given in case of permanent or total disability that renders the insured unable to continue working in their own occupation
• Occupation disability for suited or own benefit – the payment is given in case of permanent or total disability that renders the insured unable to continue working in a suited or own occupation
• Activities of daily work benefit – this is given when you cannot do 5 activities in your regular daily work
• Physical impairment benefit – this is paid when the insured meets the requisites of physical impairment
• Activities of daily living benefit – is paid when you cannot perform 4 instrumental activities or 3 basic activities of living
• Comprehensive disability benefit – this combines the payments included in daily living, daily work and occupational benefits

Critical illness benefits:

The benefit is paid when the insured is diagnosed with a critical illness, with the amount dependent of how severe the illness is.

• Critical illness core plus benefits – if the insured had a stroke, heart bypass surgery, cancer, coma or heart attack.
• Critical illness comprehensive benefits – 100% payback is given if the insured suffers any of the 20 critical illnesses out of the 32 in the comprehensive list of the company
• Critical illness comprehensive plus benefits – this pays 100% of the insurance value if the insured contracted any of the 25 critical illnesses out of the 32 that’s included in the insurance company’s list

Rider benefits include:

• Final expense benefit – lump sum benefit paid to the beneficiaries of the deceased 48 hours after death
• Future cover benefit – you can buy the death benefit at a future date based on the current status of the applicant’s health and a negative HIV test result.
• Waiver of premium benefit – if you died while still paying for an insurance policy on behalf of another person, the premiums will be waived
• Retrenchment benefit – the insured will receive a monthly income if he or she is retrenched. The payment will continue for a maximum of 12 months
• Child critical illness benefit – available from birth of the child, it can be added to the critical illness benefits

BoE Life Contact details:

  • Email: clientservices@nedgrouplife.co.za
  • Phone:  086 026 3543
  • Fax: +27 11 269 0149
  • Website: www.nedgrouplife.co.za
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