MyCover Life

MyCover Life gives you the flexibility to choose cover to suit your needs and ensures that your loved ones are taken care of in the event of your death.

FEATURES AND BENEFITS INCLUDE:

• Life cover of up to R2m
• Choice of cover options
• Up to 10 beneficiaries
• Flexible premiums
• 5% discount as a Nedbank client
• *No waiting period
• Premium waiver

OPTIONAL EXTRA COVER

Accidental-death cover*

• Accidental-death cover for policy
• holders, ranging from a minimum of R100 000 up to R2 million or 100% of the main benefit.
• We pay out a once-off lump sum if a claim for both accidental or natural death is valid.
• There is no waiting period.
• You can add a maximum of 10 people as your beneficiaries.

Funeral cover

• Funeral cover ranges from a minimum of R10 000 up to R75 000.The benefit is paid out on accidental or natural death.
• The funeral benefit covers the main member, one spouse, three children and four parents (up to eight people, excluding* the main member).
• The waiting period for natural death is six months, but the accidental-death benefit is available immediately.
• You can add a maximum of 10 people as beneficiaries.

Grocery benefit

• The grocery benefit will be paid on the death of the policyholder. If, for any reason, we reject the death claim, we will not pay out the grocery benefit.
• The minimum grocery benefit is R100 and can go up to R5 000.
• The benefit is paid out for six months for valid claims.
• The payout will be made on the death of the policyholder and a valid funeral claim.
• The waiting period is six months for natural death, but the accidental-death benefit is available immediately after we have received your first premium.

You also get access to our Value For Life Programme that offers you, your close family members and even your domestic worker access to a variety of services and discounts at no additional cost, including the following:

1. Trauma, assault and HIV benefit.
2. Legal services.
3. Funeral support services.
4. A personal health advisor.

GENERAL EXCLUSIONS

General exclusions apply, including the following:

• Suicide, attempted suicide or self-injury within the first 12 months of your policy.
• Driving under the influence of alcohol.
• Breaching criminal law.
• Deliberately exposing yourself to exceptional danger.

For a full list of general exclusions, please refer to the policy terms and conditions.

For more information or to get a quote, download the Money app or speak to a banker at your nearest branch. 

*Terms and conditions apply