Who Are DirectAxis?
DirectAxis is a financial services company that was launched in January, 1996 in order to give customers direct access (as the name implies) to services such as insurance and loans. They provide this access through a system of call centres. Because DirectAxis is a direct service provider they don't use insurance brokers. This means that they can afford to charge lower prices. The major shareholders of the company are FirstRand Bank and Yellowwoods, and DirectAxis is headed by A.D. Cunningham (Chairman) and M.A. Finlayson (Managing).
Where is DirectAxis Located?
DirectAxis headquarters can be found at 108 De Waal Road, Diep River, 7800, South Africa.
What Services Do DirectAxis Provide?
DirectAxis basically provide two groups of services. They cater for customers looking for loans and car loans as well as for customers looking for insurance. On the insurance front they offer car, home and health policies as well as life insurance.
DirectAxis Life Insurance
Unfortunately, the DirectAxis insurance website is very light on information when it comes to their policies. As hard as we looked the only information that DirectAxis provides is a list of some of the advantages of their DirectAxis Life range of policies. These, according to the website, are the benefits you may expect to receive:
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Your insurance policy payout can be used to support your family in the event of death and may be used to pay for funeral expenses, mortgage bond payments, and taxes as well as for day to day living expenses;
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DirectAxis Life payouts are non-taxable and may be used to cover estate taxes;
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DirectAxis Life policies are reviewable, meaning that you can change coverage amounts when life circumstances change, such as when a child is born.
Obviously, this is not a lot of information at all. Nowhere could we find information about coverage amounts, or even details about what events are covered by DirectAxis policies. For example, many life insurance companies place restrictions on whether a policy covers natural or accidental death, or suicide. From their home page we did find the following general information:
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No medical exams are required to get a policy;
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Coverage starts at less than R3 per day;
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HIV positive clients are eligible for coverage;
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There are options to cover both you and your family;
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There are Accelerated Benefits, meaning that immediate claim payouts exist (though presumably there are restrictions on this, which the website did not list).
How Are the Customer Reviews for DirectAxis?
There are 330 reports from the last twelve months about DirectAxis on the consumer review website hellopeter. Of these, 87% are negative and 13% are positive. The majority of the complaints are about marketting emails sent by the company or customer service. On a positive note – every report had a response from a DirectAxis representative, showing that the company is at least reading the customer feedback and responding.
Is directaxis.co.za User Friendly?
General information is very easy to find on the DirectAxis website. We liked that they have a drop down menu at the top of every page that allows you to easily navigate between pages. We did not like that you can't open pages from this menu in a new tab, which makes comparing pages unnecessarily complicated. Our main concern with the DirectAxis website, however, was the pure lack of information available to customers about their policies and options. There are no details given whatsoever about concerns such as coverage amounts or conditions or limits to coverage. This makes comparing policies from DirectAxis to those offered by other companies very difficult. In today's internet age shoppers tend to be much more informed about their insurance options and often like to compare policies and companies before making a decision, and the DirectAxis website really doesn't give enough information for this to be possible.
DirectAxis in a Nutshell
DirectAxis offers customers the opportunity to buy insurance policies without having to go through an insurance broker. Unfortunately, there is a bit of lack of information available on their website which makes it difficult to compare DirectAxis Life options with those of other insurance companies. As for user reviews, the current report doesn't look to good, with DirectAxis having an 87% negative rating. On the upside, they at least responded to all of the reports which not all companies do. Life insurance is a difficult and important decision, and with today's financial difficulties, you want to make sure you are making the right one. That is why we suggest you get more than one quote before making a decision. You can get up to 2 free life insurance quotes by completing 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: DirectAxis
