PSG Online: About the Company
PSG Online is the online portal used by PSG to provide easy access for clients to information about investments and insurance policies. PSG itself is a large South African financial services provider. The set up of PSG is a little complicated, but basically PSG Online, along with other PSG companies such as PSG Investments, are all owned by a group called PSG Konsult. In turn, PSG Konsult is approximately 60% a holding of the PSG Group, with the other 40% being held by other shareholders. The Chairman of the PSG Group is Jannie Mouton, whilst the Chairman of PSG Konsult is Willem Theron. All of this is pretty complicated, but the important thing is that PSG Online are backed by the financially stable PSG Group.
* Note: We were contacted by PSG Online and requested to remove their review. Although no explanation was given, we can only assume that this was due to some negative aspects mentioned about them in the review. We offered to alter any factual information, but they refused this offer and continued to demand that we remove the review. When we refused to do so (in the interest of our users), PSG then complained to the FSB (Financial Services Board) which in turn tried to get us to take down this post and others. Although the FSB is supposed to look out for the interest of the consumers, that's you, they have done nothing but attempt to remove our posts and prevent our freedom of speech – all this whilst protecting the interests of the insurance companies. This raises a question: are the FSB a private contractor of the insurance companies even though it is your tax money paying their salary? Shouldn't they be working for the consumers and helping websites like this write objective reviews about insurance companies so that you the consumer can get objective information?
** Clarification: PSG Insure partners with leading insurance providers in order to provide its users with access to select insurance products. PSG Online operates as a portal for users to request informationa on various insurance products which are directed to PSG's affiliates.
Find PSG Online
The physical address for the headquarters of PSG is Building A; Pro Sano Park South Gate, Carl Cronje Drive, Tyger Waterfront, Tyger Valley, Bellville, 7530. There is also a postal address for the company located at P.O. Box 3335, Tyger Valley, Bellville, 7536.
Which Services Do PSG Online Provide?
PSG offer a full line of financial services, including financial planning and investment options, as well as a range of insurance choices from car, house and business insurance to life insurance – the insurance services are given through their affiliates.
Life Insurance with PSG Online
PSG insurance through PSG Online (and its affiliates) offers three policies that may interest life insurance shoppers. There is a traditional life insurance policy, along with a disability cover option and a critical illness cover option.
PSG Online Life Cover
PSG's basic life insurance option has the following features:
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Payout is in the form of a lump sum, though the company website does not mention coverage limits presumably the amount of payout depends on the amount of coverage you choose and the premiums you pay;
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The minimum age for a policy is 19, and the maximum age at which you can apply is 70;
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The policy does provide whole life coverage;
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There is an Interim Accident Benefit which provides coverage in case of death by accident from the time your application is received until the time it is accepted or declined as long as that time is not longer than thirty days. The amount of coverage is limited to R250,000 or the amount of requested coverage if lower;
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A Family Funeral Benefit is included which will pay R20,000 on the death of the insured, R20,000 on the death of a spouse, and R10,000 on the death of a child (up to a maximum of four children), this can be used to pay funeral expenses;
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There is a Terminal Illness Benefit which in the case of a terminal illness being diagnosed and with a life expectancy of less than twelve months 100% of the payout can be received immediately;
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If death occurs by suicide within the first two years of the policy being active no payout will be received.
PSG Online Disability Cover
Designed to protect your financial interests in the case that you become disabled PSG Online also offers (through its affiliates) a disability policy which has the following features:
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Payout is a lump sum up to a maximum of R10 million paid in the event that you become permanently disabled and are unable to work;
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The minimum age for application is 19 and the maximum is 56;
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Should you make a claim your life and critical illness benefits will be unaffected, but the amount of your disability coverage will go down by the amount received if your claim is accepted;
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Coverage is immediate with no waiting period;
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There is a three month survival period which means you must wait for three months after your accident in order to receive your payout;
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Payout will not be made if an injury is self inflicted.
PSG Online Critical Illness Cover
Finally, PSG Online also offer (through their affiliats) a policy option to protect you in the case that you suffer from a critical illness. This policy has the following features:
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Payout is in the form of a lump sum up to a maximum of R4 million;
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Minimum age for applicants is 19, and the maximum age is 65;
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Coverage is for your whole life;
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There is a 14 day waiting period, so you must wait two weeks between diagnosis of a critical illness before you can claim a payout.
Note that PSG Online does not provide a list of the critical illnesses that are covered in this policy, and there are sure to be some limitations. Many insurers cover only major events such as strokes, heart attacks and cancer, for example.
How Are the Customer Reviews for PSG Online?
On the consumer review site hellopeter there are no reviews directly for PSG Online. There are, however, 48 reviews posted for PSG Insure, which provides insurance services for PSG Online through its' affiliates. Of these reviews 46 were complaints – almost all of them. Many of the complaints were about poor customer service and bad experiences, mainly with brokers.
How User Friendly is the PSG Website?
It was actually quite difficult to find the necessary website. PSG's main website (www.psg.co.za) does not provide any information about 
insurance policies at all. Once we hit the PSG Online website we had to seriously look to find the information that we needed. The website wasn't clearly laid out, and finding information was tough. Once we found what we needed, much of the info used so many technical life insurance terms and definitions that it was incredibly difficult to understand. Whilst the website had a navigation bar at the top of each page allowing you to skip between sections (which is always helpful) we did feel that PSG Online could do more to make information more available and easier to understand for potential customers.
PSG Online: In Conclusion
PSG Online offers online access to insurance policies from the PSG Group of companies throgh its' affiliates. It's difficult to judge the company based on their hellopeter reviews, since it's unclear which reviews might refer to PSG Online and which refer to PSG Insure in general. PSG Online's website doesn't really make insurance shopping easy, with lots of jargon and difficult to find information. However, whenever you're shopping you should get quotes from as many companies as possible. If you're interested in getting 2 free life insurance quotes, then click on the top right hand of our home page or on the banner above.
* 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: PSG Online
