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/
  • Funeral Insurance/
  • Iemas Insurance

Iemas Insurance

September 10, 2014 / Emma B / Funeral Insurance, Life Insurance Companies
0
Iemas Insurance

About Iemas Insurance

Iemas Insurance is an arm of Iemas, a cooperative financial services company. Iemas provides a wide range of financial services, of which insurance is only one part. A cooperative company is one that is owned by its members, rather than by shareholders. That means that if you purchase your insurance (or any other service) from Iemas that you become a member of the company, and can therefore expect a share in any profit that the company makes. Every year a proportion of the company's profits is given to members, usually in the form of a deposit into a savings account. The amount will vary depending on the company's performance in the preceding year. Temba Mvusi is the current chairman of the board for Iemas, and Johan Nel is the CEO.

Where is Iemas Located?

The head offices of Iemas can be found at Iemas Park, Corner of Embankment Road and Kwikkie Street, Zwartkop Ext. 7, Centurion, Pretoria Area, Gauteng. There is also a mailing address for Iemas which is Private Bag X924, Pretoria CBD, 0001.

What Services Do Iemas Provide?

Iemas provide a range of financial services, but concentrate mainly on loans and insurance. They do offer both life insurance and funeral insurance options.

Iemas Insurance Choices

As mentioned, Iemas insurance provides life and funeral options for customers. Unfortunately, certain information is limited on the Iemas website, but we can give you the following details.

Iemas Life Insurance

The Iemas website clearly states that the company offers life insurance products, and even mentions disability coverage as well. However, other than the existence of these products there was absolutely no further information given. We presume that either the website is incomplete at the moment, or that an insurance broker is required to get further information. This is obviously not ideal for insurance shoppers who would like some idea of what they're getting before going through the process of getting quotes or brokers.

 

Iemas Funeral Insurance

There was far more information available about Iemas funeral insurance options. However, Iemas funeral insurance is only available to people employed by an Iemas contracted employer group. This means that you should ensure first that your employer fits into this category. Iemas funeral insurance is divided into three categories, gold, platinum and diamond with coverage amounts and premiums varying by category. The basic benefits are as follows:

  • Coverage for the main insured, spouse and children between the ages of 14 and 21 (should you choose to add family members to your plan) is R10,000 (gold), R20,000 (platinum) or R30,000 (diamond);

  • Children between the ages of 6 and 13 will be covered for R5,000, R10,000 or R15,000 depending on which category you choose, and children from 0 to 5 will be covered for R2,500, R5,000 or R7.500, depending on category;

  • Parents and parents in law can be insured for R5,000, R10,000 or R15,000 depending on category, and all extended family members will be insured for R5,000 in all categories;

  • Family members can only be added to your plan when you first apply or within the first thirty days, the website does not state this but we presume this does not include any children born after you apply;

  • If both parents or both parents in law are living you must insure both, not just one;

  • Coverage is immediate for accidental death, but there is a six month waiting period for natural death which includes suicide.

How Are Consumer Reviews for Iemas Insurance?

The website hellopeter, which allows consumers to post reviews of service providers, reports only 29 reviews of Iemas in the last twelve months. This is an extremely low number compared to the thousands of reviews other insurance companies we've reviewed have received. Of these reviews, 28 were complaints, giving Iemas a very high 97% negative rating. Many reviews concentrated on bad service and payments being withheld. However, we must note two things. Firstly, these reviews were for Iemas financial services, not just for Iemas insurance, and secondly, the number of reviews was extremely low. Taking into account the fact that people are much more likely to post about a negative experience than a positive one, it doesn't seem fair to judge Iemas based solely on their hellopeter reviews.

How User Friendly is www.iemas.co.za?

The initial impression of the Iemas insurance website is a good one. The website is easy to navigate, and information is clearly labelled, which isn't always the case even these days. However, once we got in to the website, we began to experience problems getting information. Whilst there was a solid explanation of the funeral policy options, for example, there was absolutely no information at all about life insurance options. We don't really understand this disparity, and wonder why Iemas insurance doesn't list any benefits of their life policies. All in all, unless you're shopping for funeral insurance, the Iemas website is not a great place to get information.

Iemas Insurance

Iemas Insurance: The Verdict

It's very difficult to evaluate Iemas insurance products, mostly because there's so little information available about them and so few consumer reviews. There is a detailed explanation of their funeral policies, but we know nothing at all about their life policies. What is clear is that Iemas is a cooperative company, so you will share in profits if you buy insurance through them, and that at least some of their policies are limited to customers who are employed with an Iemas contracted employer. It is always best to compare insurance companies before making a final decision, of course, so you might want to get some quotes before signing up for anything. To help you, you can get up to 9 life insurance quotes for free simply by clicking on the banner above or on the top right of the home page.

* 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: Iemas Insurance

Posts you might find interesting:

Absa Funeral Cover

Absa Funeral Cover

Better Life Insurance

Better Life Insurance

Integrisure

Integrisure

funeral insurance, Iemas funeral insurance, Iemas insurance, Iemas 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.