Lerako Life
Insuring you & everyone you love. (Ts and Cs apply)
Ensure peace of mind for you and your loved ones with our comprehensive Lerako Life Cover plan.
This policy provides financial security, covering life insurance costs and offering additional benefits to help you focus on what matters most. By choosing Lerako, you’re securing a reliable and compassionate support system for your family’s future.What is covered?
Coverage includes financial support for the Main Life Insured and the Main Life’s spouse, ensuring that the financial burden is alleviated during difficult times.
Death
Upon the death of the Life Insured, the sum assured as per the schedule will be paid.
add-on
Permanent Disability
Upon permanent disability of the Life Insured, the sum assured as per the schedule will be paid.
add-on
Critical Illness
Upon diagnosis of a specific illness, the sum assured as per the schedule will be paid.
Additional benefits
Premium waiver
- In the event of the Life Insured’s death, no further premiums will be required, and the policy will remain active until the Life Insured would have turned 75 for death benefits and 65 for permanent disability and critical illness benefits. This ensures continued coverage without additional financial pressure.
- Unemployment and pregnancy: Waiver of premiums for the cover for up to 6 months should the first life insured become pregnant and go on unpaid maternity leave or be retrenched or lose his or her job. Loss of job excludes any voluntary loss of work, dismissal as a result of dishonesty or misconduct - only becomes available if 12 months of premiums have already been paid.
Cash back bonus
Every 5 years, if no claims have been made, a cash lump sum equal to 10% of the
total premiums paid will be returned. This bonus rewards policyholders for maintaining
their coverage and offers a financial benefit for their commitment.
Premium update option
Policyholders have the option to increase their coverage by updating
the premium annually by 5%. The coverage amount will increase by 4% accordingly, allowing for gradual
enhancement of benefits in line with inflation and changing needs.
No waiting periods
There are no waiting periods for death, permanent disability, or critical illness benefits,
ensuring immediate coverage from the start.
Who is covered?
Main life insured and main life’s spouse
The primary beneficiaries of the policy, ensuring that both receive
financial support in case of death or disability.
Additional details
Age of entry
- Minimum: 21 years
- Maximum: 70 years
Termination age
- Death benefit: 75 years old
- Permanent disability: 65 years old
- Critical illness: 65 years old
Why choose Lerako Life?
Choosing Lerako’s Life Cover means selecting a policy designed to provide extensive support during life’s most challenging moments.
Our focus on transparency and comprehensive coverage ensures you are well-informed and well-protected. With benefits like premium waivers and cash-back bonuses, Lerako offers unmatched value and peace of mind. cash-back bonuses, Hollard offers unmatched value and peace of mind.
Limits of cover
- Minimum term: 5 years
- Maximum term: 30 years
- No medicals/underwriting required for cover of P1m or under P1m .
- Medicals/underwriting required for cover over P1m .
- Unlisted relatives: Relatives not specified in the policy.
- Unemployment and pregnancy benefit: At least 12 monthly premiums must have been received to redeem this benefit.
Because family is life. Insuring you & everyone you love.