Death cover that can precisely match your clients’ needs

Posted on 8 Sep, 25 by BrightRock

Death cover is one of the most commonly bought types of insurance in South Africa. Traditionally, this cover provides a single lump-sum payment to beneficiaries. This approach can fall short of covering the actual, ongoing financial needs of clients’ beneficiaries. BrightRock’s needs-matched death cover redefines this approach by adapting cover to clients’ unique circumstances, offering structured and sustainable support that evolves alongside their financial obligations. This makes it possible for you to offer more tailored and effective cover options to your clients.

The BrightRock difference: Efficiency, flexibility, and certainty

BrightRock’s life insurance solutions are built on three pillars:

1. Efficiency: Delivering up to twice the amount of cover than traditional lump-sum cover for the same premium, thereby offering more value;
2. Flexibility: Cover that adjusts as clients’ needs change, with unique features to match their changing needs;
3. Certainty: Clear and transparent policies that ensure clients and advisers fully comprehend the cover benefits and their mechanics.

Addressing real-world financial obligations

When a policyholder passes away, various financial obligations remain, from household expenses to childcare and medical costs for their loved ones. There are also one-time expenses, like funeral costs, executor fees, and potential estate duties. BrightRock’s needs-matched death cover directly addresses these obligations, helping clients ensure that their beneficiaries are supported both immediately and in the future.

Here’s how you can help your clients structure their BrightRock death cover to suit their family’s unique needs:

1. Ongoing income support: Clients can allocate a portion of their death cover for recurring monthly pay-outs rather than a single lump sum. This ensures that their loved ones continue receiving a steady income to cover essential expenses, like groceries, rent, or childcare. The client chooses how much is allocated to these needs, ensuring consistent financial support that mimics the income beneficiaries relied on while the client was still alive;
2. Lump-sum cover for major costs: For larger financial obligations, such as settling debts or covering estate fees, clients can designate lump-sum pay-outs. This way, beneficiaries or the estate have the funds necessary to address major costs without needing to dip into resources meant for long-term income support. The flexibility to combine monthly pay-outs with lump-sum options allows clients to match their loved ones’ immediate and future needs.

Enhanced efficiency for greater value

BrightRock’s needs-matched death cover maximises the value clients receive for their premiums. By structuring cove according to actual needs, clients can access up to double the cover for the same premium that they would pay for traditional lump sum insurance. For example, if a client allocates cover to ongoing income needs, with BrightRock they can extend that cover until a predetermined date, such as the client’s expected retirement age. This approach not only provides clients with more comprehensive protection but also gives advisers a compelling, market-differentiating solution.

Why BrightRock’s needs-matched cover stands out

At BrightRock, we believe insurance should change with the client as their needs change. For advisers, with needs-matched cover, you’re providing clients with the confidence that their loved ones’ financial future is in safe hands. By explaining the benefits of structured pay-outs, you help clients appreciate the true value of sustainable, needs-based cover, supporting financial resilience far into the future.

Speak to your BrightRock Distribution Specialist today to find out more about our market-leading death cover.