Channel Life Limited was established in 1969 in South Africa. It has its headquarters in Johannesburg. In 2006 Sanlam Life Insurance Ltd. became the parent company of Channel Life. It owns 50% of Channel Life. It was formerly called PSG Anchor Life Limited. In 2000 it changed its name to Channel Life Limited.
Channel Life Limited offers life insurance services and products for both businesses and individuals, managed by separate divisions. Its product range includes employee benefit, investment and life solutions. There are several employee risk benefits, including funeral services, dreaded diseases, disability and death. Target clients include individuals, employers, companies and organizations. You can visit the Channel Life website for additional information as well as get a background on other insurance services.
Channel Life Insurance Porducts
Channel Life offers several long-term insurance policies to various types of clients such as:
Channel Life – Funeral Provider Plan
This is a funeral insurance policy that covers endowments and funeral costs. This is a flexible plan that provides for a funeral premium escalation to cover the escalating costs of funeral services, some of which can run up to R35,000. If the insured dies, the funeral benefit is paid immediately so that the family members do not have to worry about transport, flowers, catering and the coffin among other expenses.
This plan also has a temporary premium waiver. It keeps the insurance cover in place for three months after the death of the insured so that the rests of the family and/or the beneficiaries can have the time to organize the funeral cover on their own.
Channel Life – Life Provider Plan
This type of life insurance policy offers the option to include disability coverage. It also offers the option to have the member’s spouse get insurance coverage. This is a long term insurance plan, which matures in 10 or 20 years. A member can also choose to continue the plan for his entire life. The plan holder’s life is covered for R200,000 and offers immediate payout in case of accidental death to support the immediate family.
This plan also covers emergency medical response, HIV treatment, trauma assault, health advice, legal support and funeral support. The Life Provider Plan is available for members between the ages of 19 and 60.
Channel Life – Master Plan
Sometimes that insured member’s immediate family is only the spouse, in which case this insurance plan is tailor fit for such household. This is also very suitable for members who work in the farm, factories and related industries because of its disability benefits. This specific plan includes savings benefits and funeral coverage for the insured and the spouse. It comprises a death benefit (by natural causes), accidental death benefits as well as savings benefits for the spouse. It also offers other options such as funeral support services, debility coverage, hospitalization cash plan, and family funeral coverage.
Channel Life Contact Information
- Address: Sanlam Business Park 13, West Street, Houghton, Johannesburg, 2198, South Africa
- Phone: +27 11 359 7700
- Fax: +27 86 048 0001
- Website: wwww.channel.co.za