Old Mutual Life Cover Premiums

Our Life insurance products are available from your financial adviser. Unlike off-the-shelf products, our products are designed around what you need and what you can afford. Your adviser can help you build your customised cover. If you don’t have an adviser please call us on 0860 60 60 60 or find an adviser here.

Old Mutual’s Life insurance is cover that pays a tax free single amount starting from R100 000 or a monthly payment from R3 000 when you die. Your loved ones can use the pay-out to cover expenses, such as a home loan, estate duty, ongoing living expenses or education costs.

And because no two people are the same, you get to choose the type of cover you need. You can even personalise it by adding Disability or Illness insurance to it, as well as extra benefits and features.

How does it work?

Choosing the right cover doesn’t have to be daunting. With the help of your adviser, you just need to follow these three quick and easy steps.

  1. Choose your cover. In this instance Old Mutual Protect Life Cover, Old Mutual Protect Life Income Cover, Old Mutual Protect Last Survivor Cover or Old Mutual Protect Accidental Death Cover
  2. Enrich your cover by adding Disability or Illness insurance to it and any allowable extra benefits like the Child Illness Benefit or Own Occupation Benefit.
  3. Choose your add-ons such as Cashback or Premium Protection

Consider these Life insurance optionsTake a look at the different types of cover available and the various ways to tailor your cover amount and benefits to meet your unique needs.

Cover amountOld Mutual Protect Life CoverFrom R100 000 and limited to what you qualify forOld Mutual Protect Life Income CoverFrom R3 000 and limited to what you qualify forOld Mutual Protect Last Survivor CoverFrom R100 000 and limited to what you qualify forOld Mutual Protect Accidental Death CoverFrom R100 000 to R2 million
Type of payoutSingle paymentMonthly paymentSingle paymentSingle payment
Cover amount is paid if the insured person is diagnosed with a terminal illness and have less than 12 months to live
Decide if and how you want your cover and premium to increase
Add on Disability insurance, Illness insurance or both
Add on Premium Protection to ensure that premiums are no longer payable and cover continues if the premium payer becomes disabled, impaired, is retrenched or dies
Get limited cover without going for medical testsYes*
Add on cashback – get a percentage of your premiums paid every five years on the cashback anniversary.


Life insurance options in a nutshell

  • Old Mutual Protect Life Cover pays a single amount starting from R100 000 or a monthly payment from R3 000 when you die.
  • Old Mutual Protect Life Income Cover pays a monthly tax free amount during the term you’ve chosen when the insured person dies.
  • Old Mutual Protect  Last Survivor Cover pays a single tax free amount when the last of the two insured persons die or is diagnosed with a terminal illness and has less than 12 months to live.
  • Old Mutual Protect Accidental Death Cover pays a single tax free amount if you die because of an accident.
  • Your choice of add-ons with these options are Cashback or Premium Protection.