Learn how auto-adjusting your policy helps you save

Meet Thandi 👋

In January, Thandi took out EasyProtect Life Cover of R1,250,000 for 5 years. 

 

At EasyProtect we believe that you only need life insurance to fill the gap between what you have (your assets) and what you need to cover your financial liabilities to look after your dependents should you pass away. 

Thandi’s required cover to look after her dependents is R 2,250,000.00, but her gap (Required less Assets) is only R 1,250,000.00 at this stage.  

Thandi’s goal is to grow her assets through her investments on the EasyEquities platform, reducing the need for life insurance. 

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Required Cover

R 2,250,000.00

LESS ASSETS

Easy Portfolio

- R 1,000,000.00

Additional Assets

Additional Assets

NET COVER REQUIRED

R 1,250,000.00

THANDI PAYS

R 109.99 p/m

Once her life cover was active, Thandi was given the option to auto adjust her policy value ✅

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Policy Details

Once her life cover was active, Thandi was given the option to auto adjust her policy value ✅

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What does this mean for Thandi?

Thandi can see how her Net Cover Required changes as her assets grow on the Easy Platform. EasyProtect is asset-aware, which means her gap is now reduced together with her requirement for Life cover. By enabling the auto adjustment of her policy value, EasyProtect will review her gap (Required less Assets) every 6 months and automatically reduce her cover accordingly, so there is no need for Thandi to adjust her cover herself.
When her cover reduces, so does her premium, resulting in a savings portion on her monthly policy premium - Hooray! 👏

6 months later...🗓️

Thandi’s Easy Portfolio has grown, so her life cover requirement decreased to R 1,150,000.00. Because auto-adjust was enabled, her Life cover automatically updated to R 1,150,000.00 of cover, from her previous R 1,250,000.00. Thandi’s premium remained the same, but she earned a savings portion of R 15.00, which was automatically deposited straight into her EasyEquitiers ZAR investment account to invest further. By adding to her investments, she should reduce her requirement for Life cover even further; over time, her assets will fill her gap and eliminate her need for Life cover.

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SAVINGS PORTION

R 15.00

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Required Cover

R 2,250,000.00

LESS ASSETS

Easy Portfolio

- R 1,100,000.00

Additional Assets

Additional Assets

NET COVER REQUIRED

R 1,150,000.00

THANDI PAYS

R 109.99 p/m

Thandi is happy and content knowing she can further invest in her future. 😊

Thandi is happy and content knowing she can further invest in her future. 😊

Frequently Asked Questions
  • SmallPurpleSquare
    What is Auto-Adjust As your assets grow over time, the amount of cover you need decreases. If you choose to auto-adjust your cover, we will update your cover to your new required amount after assets, every 6 months. As your policy cost decreases the excess will be yours to invest.
  • SmallPurpleSquare
    Can I switch Auto-Adjust off at anytime? Yes, you can! Like you toggle Auto-Adjust on, you can toggle Auto-Adjust off. When Auto-Adjust is toggled off, your life cover remains as set and will only update when done manually yourself.
  • SmallPurpleSquare
    What happens if my EasyPortfolio decreases over 6 months Auto-adjust is aimed to help you grow your investments. If your portfolio remains the same or decreases, your cover amount stays the same and so no savings portion will exist.
View all FAQs