African Life Insurance used to be an independent life insurance
company, but has since been taken over by insurance giant, Sanlam. This hasn`t
changed the company philosophy or approach though - in that its affordable entry
level life insurance products are still available, through the Sanlam brand.
African Life / Sanlam Website
On Samlam's website you can learn more about their products, find their contact info or use their online services
Aflife, as it has sometimes been known, is 100% black-owned, and has
therefore added to the BEE credentials of its new parent company - in a properly
empowered way, rather than just being window dressing.
In addition to operating in the life insurance field, it also offers health
insurance cover as well as estate planning and personal finance management. In
its history the company operated all over Southern Africa, holding ownership and
interests in several financial services and insurance companies in the region.
These include Life Office of Namibia and Botswana Insurance Holdings. Besides
these, the company also operates in Lesotho, Kenya, Ghana, Tanzania and Zambia
where it administers an AIDS insurance scheme. These holdings and operations
have theoretically been ceded to the holding company.
African Life Insurance has as its basic foundation the provision of
affordable life insurance to that sector of the market that has previously found
it difficult or impossible to afford life insurance. This is often refered to as
the under-insured market, or the uninsurable market. However the company took
the view when it started that this was a good market to enter, both from the
perspective of being able to get a good return on its investment, as well as
from a social responsibility angle: there aren`t necessarily iron-clan reasons
why not everyone should be able to afford insurance. The company made this the
thrust of its approach, and it has paid off with a successful client base, and
the latter day acquisition by one of the biggest companies in South Africa.
The product set has now been folded in with that of Sanlam. This means that
there are still entry level life insurance packages on offer, as well as the
LifePower range. The latter is the life and health insurance product for people
who are living with HIV/AIDS. This ground-breaking product can be used by people
as collateral against which to get home loans and business loans. There are also
death benefits, and estate planning and administration.
To get access to these products, you can simply go to the Sanlam website,
where there is full contact information, as well as detailed product
- Life insurance
Comprehensive life insurance that is affordable for the entry level market
and those who have previously been unable to secure it.
- HIV/AIDS cover
Cover for those living with HIV/AIDS - including death benefits and home and
business loan collateral.
BEE AND CSI INFORMATION
The company is now part of Sanlam, and in so doing it has made a significant
contribution to the parent company`s BEE standings, as a wholly black-owned
company. It is also now part of Sanlam`s vast community development and
Client Contact Centre: 0860SANLAM / 0860 726 526
Fax: (021) 947-9440
Sanlam Head Office
2 Strand Road
Sanlam Head Office
PO Box 1