Insurance companies are one of the best ways to secure your assets and future in the world of today. Majority of the citizens in Western countries have adopted this practice of insuring their properties & lives.
South Africans are not exempted from this practice. We do have a pretty decent amount of insurance companies. There are different types of insurance which range from car insurance to life insurance.
Types of Indemnity (Insurance) in South Africa
Home:
This type of insurance covers homes and expensive household items. In case any of these items get damaged or are stolen, the insurance companies replace them.
Business:
Business insurance protects an individual’s assets & possessions in a business. It also covers employees and customers should they get injured within the business property or premises.
Car:
This type of insurance covers the car and the owner if they get into a road accident, or the car gets stolen. Different indemnity companies have different charges.
Funeral:
A good way of lifting the emotional burden of bearing the cost of a funeral is through indemnity. In this case, the insurance company takes care of the burial.
Medical:
Human Beings are prone to any medical emergencies such as unexpected illnesses. Medical indemnity often lifts the weight of substantial medical bills if an individual applies for it.
Life Insurance:
This is one of the most popular types around. The life insurance policy protects one’s loved ones from suffering if they ever pass away. The company receives monthly premiums from the person who has taken the cover. In case the person dies, the money will be issued to the family (the beneficiaries).
10 Best Insurance Companies in South Africa
Here are the top ten (10) best insurance companies in SA ranked in no particular order.
1. Metropolitan Company
With this Life insurance company, you can stay secure. At Metropolitan company you can build, sc]ecure and grow your future with them.
2. Sanlam
They are one of the biggest insurance companies in South Africa. They do help out with Insurance, Financial planning, Retirements, Investments & Wealth.
3. MiWay
This is a car insurance company and one of the biggest in SA. To their customers, they offer a range of non-life insurance products including motor, household, homeowners, business insurance and as well as liability cover.
4. Discovery
This is another big player in the game. You can most certainly go for Discovery if you want the best insurance services in the country. They have more than 5 million clients they are covering.
5. ABSA Financial Insurance and Financial Advisors
As a South African, you must have heard of ABSA financial insurance and financial advisors. Many rank them as the best insurance company in the whole country.
6. Just Retirement Life (SA)
They are now known as JustSA. JustSA is one of the best option for a retirement plan. They are a specialist annuity provider, perfectly placed to help retirement funds.
7. FedGroup Life
FedGroup Life is another life insurance company. We can even rank them as one of the best on this list so far.
8. Autos & General
Autos & General is a very popular insurance company. You must have heard of them or seen their ad somewhere. This is an insurance company that covers both the car and its owner.
9. Investec Life
Another life insurance company on our list. One of the attractive features of Investec is that you can apply online via their website.
10. Outsurance
They have been around for about 21 years and have built a very long list of clients. This shows that Outsurance is one of the best insurance companies in South Africa. Their headquarters is located at Centurion.
