Proudly South African

Living-Smarts.com

Making Life even Better!
  • RSS
  • Home
  • Insurance Companies
    • Insurance Companies in South Africa
    • Absa Life
    • Alexander Forbes Insurance
    • All Life
    • Auto and General
    • Avbob
    • Better Life Insurance
    • Brightrock Life Insurance
    • Clientele Life
    • Constantia Insurance
    • Budget Insurance
    • Dial Direct Insurance
    • DirectAxis
    • Discovery Insure
    • First for women
    • FNB Life Insurance
    • Frank.Net
    • Hippo Insurance Quotes
    • Hollard Life Insurance
    • Iemas Insurance
    • Integrisure
    • 1LifeDirect Life Cover
    • Miway Life Insurance
    • Metropolitan Life Insurance
    • Momentum Life Insurance
    • Nedbank Life Insurance
    • Old Mutual Life Cover
    • Outsurance Life Cover
    • PPS Insurance
    • Prime Meridian Insurance
    • PSG Online
    • Regent Insurance
    • Sanlam Life Insurance
    • Stand Bank Life Insurance
    • Triarc Life Insurance
    • Unity Insurance
    • Virgin Money Insurance
    • Vodacom Life Insurance
  • Life Insurance
    • Top Reasons why you Need Life Insurance
    • Life Insurance Quotes
    • How to File a Complaint with the Insurance Ombudsman
    • Life insurance for diabetes
    • Life Insurance Terms and Definitions
    • Life Insurance questions and answers
    • Things You Have to Know Before Getting Life Insurance
  • Funeral Insurance
    • Absa Funeral Cover
    • Assupol Funeral Cover
    • Hollard Funeral Cover
    • Metropolitan Funeral Cover
    • Momentum Funeral Cover
    • Nedbank Funeral Cover
    • Old Mutual Funeral Cover
  • Healthy Living
    • Diets
      • 12 most popular diets
      • The Atkins Diet
      • The Paleo Diet
      • The 13 Day Diet
      • How to Gain Weight
    • Crime & Safety
      • South Africa – 4th Most Dangerous
    • Illnesses
      • Top Causes of Death in South Africa
  • Insurance News
    • Vodacom Enters Life s Insurance Biz!
    • Bad News for Loan Seekers in NCA Changes
    • SA Customers Disappointed in Life Insurance Companies
    • A Life Insurance Revolution with Big Data?
Search the site...
  • Home/
  • Life Insurance Companies/
  • Budget Insurance

Budget Insurance

July 2, 2014 / Emma B / Life Insurance Companies
0
Budget Insurance

Budget Insurance: About the Company

Budget Insurance is part of the Telesure Group, which includes other insurance companies such as 1st for Women, Auto and General, Dial Direct, Prosper, Virseker, Unity Insurance, Virgin Money Insurance and more. Founded in 1998, Budget Insurance specialises in providing short term insurance options on a low budget with low premiums. The company's website says that Budget Insurance is an authorised financial services provider, and is part of an international group of financial services companies that include Budget Holdings and the BLG Group. In South Africa this international group of companies is represented by Telesure. The managing director of Budget Insurance is T.J. Creamer.

Where to Find Budget Insurance

Budget Insurance, along with many other companies from the Telesure Group, can be found at Auto & General Park, 1 Telesure Lane, Riverglen, Dainfern.

Services Provided by Budget Insurance

Budget Insurance provides a range of low premium insurance policies that cover vehicles, homes, businesses, buildings, and portable possessions, as well as providing life insurance.

Life Insurance with Budget Insurance

Budget South Africa offers two simple life insurance policies, both sold under the name Pure Life Cover. These two policies offer slightly different benefits.

Budget Insurance Life Cover

The basic policy with Budget life insurance gives you the following benefits:

  • The pay out is between R50 000 and R200 000, with a larger pay out costing a higher monthly premium;

  • There is a R50 000 pay out that will be paid within 48 hours of a valid claim being made, to help beneficiaries pay for funeral expenses;

  • The terminal illness benefit means that if a terminal illness is diagnosed and life expectancy is less than 12 months, the full cover amount will be paid immediately, meaning that the money can be used to pay for medical care, for example;

  • Accidental death is covered immediately, and death by natural causes or death by suicide is covered after two years;

  • The policy includes access to Expo-Sure, an HIV testing and treatment programme, in case of accidental HIV exposure;

  • Your coverage will not go down as long as your policy is active;

  • Your coverage is for your whole life, and does not expire when you reach a certain age.

Budget Insurance Elevated Life Cover

In addition to the basic policy, Budget Insurance also offers an elevated life insurance option. This policy has more benefits than the basic policy, though obviously premiums will be more expensive. The benefits of the elevated plan are as follows:

  • The pay out is between R200 000 and R10 million, with a larger pay out meaning higher monthly premiums;

  • Again, there is a R50 000 pay out within 48 hours of a valid claim being made that can be used to help pay funeral expenses;

  • The terminal illness benefit means that the full cover amount will be paid out immediately when a terminal illness is diagnosed and life expectancy is less than 12 months;

  • Both accidental and natural death are covered immediately, and death by suicide is covered after a two year waiting period;

  • You will have access to Expo-Sure, the confidential testing and treatment programme for HIV in case of accidental exposure;

  • The policy has a Guaranteed Assurability option, which means that if your lifestyle changes through a new job, for example, you can increase your coverage amount;

  • Your cover amount will not go down as long as your policy is active;

  • The policy covers you for your whole life and does not expire at a certain age.

There are a couple of things to note about both of these policies. According to their website, Budget Insurance will base your premiums on a risk assessment, with factors like your age and general health determining how much you will pay. But Budget does give example prices on their website. According to Budget, a 24 year old woman with R500 000 of coverage will pay a monthly premium of around R86, whilst a 36 year old man with R500 000 of coverage will pay a monthly premium of around R112. Of course, these are only examples, and your health, smoking status and many other things can effect how much your premium will be.

What do Customer Reviews Look Like for Budget Insurance?

On hellopeter (a customer review website) Budget Insurance have received around 1300 reports in the last twelve months. Of these reports, 68% were positive and 32% were negative. That means that Budget Insurance got twice as many good reviews as bad ones. For the negative reviews, the biggest problem people had seems to be feedback or response times. However, it's important to note that nearly all of the Budget Insurance reviews (positive and negative) received a reply from a company representative, which indicates that feedback is something that Budget Insurance takes seriously.

Is the Budget Insurance Website User Friendly?

The Budget Insurance website is generally easy to navigate. Their life insurance policies were explained in easy to understand terms, Budget Insurancewith little technical language, which made the information easy to digest. Information about the life insurance policies was quite comprehensive, and did make the differences between the two policies quite clear. The only thing that they could perhaps change would be making the access to the life insurance a bit easier – while other kinds of insurance (vehicle, home or business) are linked to the home page, we had to go to the products and services page before we found a link to the life insurance options. This is a small issue, but one that would make shopping for life insurance just a little more easier.

Budget Insurance: In Conclusion

Budget Insurance offers two simple life insurance policies. Their website is easy to navigate and to read, which makes finding out more information simple. On top of this, customer reviews for Budget Insurance are quite encouraging, with 68% of customers reporting a positive experience with the company.So overall, things look good. As always, and seeing how life insurance is such an important type, we recommend that you get at least 2 life insurance quotes from the various insurance companies. You can do this by filling in the form on the top right.

* Disclaimer: We do not represent any of the companies, products and/or services reviewed, published or advertised on this website. Nor are we financial, health or insurance professionals or services provider. If you request a quote or purchase a product/service, it will not necessarily be given by the company reviewed on any specific page. Any decisions you make based on the information presented is at your own discretion and we advise that before doing so, you consult with the relevant professional.

Main subject: Budget Insurance 

Posts you might find interesting:

What is Critical Illness Cover?

What is Critical Illness Cover?

Life Insurance for Extreme Sports

Life Insurance for Extreme Sports

Pinnafrica

Pinnafrica

Budget Insurance, Budget Life Insurance, insurance companies, insurance company review, life insurance, life insurance South Africa

Leave a Reply Cancel reply

You must be logged in to post a comment.

Stuff you have to see!

60
The ultimate eating contest
Prison Video

<< >>

Popular Articles

  • Most Viewed

    Signup for our newsletter

    Which subject interests you the most?

    View Results

    Loading ... Loading ...

    Categories

    Like Us and Stay Updated!

    Recent Posts

    • Critical Illness Cover Cr: Navy Medicine http://tinyurl.com/p4devpc

      What is Critical Illness Cover?

      March 4, 2016
    • How to Quit Smoking Cr: R. Cruz http://tinyurl.com/p4devpc

      How to Quit Smoking

      February 26, 2016
    • Living with Diabetes Cr: Practical Cures http://tinyurl.com/p4devpc

      Living with Diabetes

      February 18, 2016
    • What is HIV and AIDS Cr: S. Hardy http://tinyurl.com/p4devpc

      What is HIV and AIDS?

      February 11, 2016

    Categories

    • Crime & Safety
    • Diets
    • Funeral Insurance
    • Healthy Living
    • Illnesses
    • Insurance News
    • Life Insurance
    • Life Insurance Companies

    Get In Touch

    Useful Links

    • Sitemap
    All rights reserved (c) 2015 Living-Smarts.com
    • Contact Us
    • About Us
    • Terms of Use
    • Sitemap
    • Login
    Living-Smarts.com ("LS" or "Site") is not a financial services provider, nor are we an insurance company. We do not provide insurance ourselves. All content on the Site is for informational purposes only and does in no way constitute legal, health or financial advice. We advise that before making any financial or medical decision you consult with the relevant professional. LS will not be held liable in any shape or form for damages, direct or indirect, resulting from any decision you make based on the information on the Site. The Site does not represent any companies reviewed, published or advertised on the website. Any decisions you make based on the above information is at your own discretion.