Know Before You Cover
Free guides, interactive tools, and a plain-language glossary to help South Africans make confident, informed decisions about insurance and financial planning.
Learning Resources
Insurance Guides
Written in plain language for South Africans — no jargon, no sales pitch. Just the information you need to make the right call.
The Complete Guide to Car Insurance in South Africa
Understand the difference between comprehensive, third-party fire & theft, and third-party only cover — and which is right for your vehicle and budget.
- Cover types explained
- How premiums are calculated
- Excess & claims process
- VAPS add-ons
How Much Life Cover Do You Actually Need?
A practical framework for calculating the right life cover amount based on your income, debts, dependants, and long-term goals.
- The 10x income rule
- Factoring in debt & bonds
- Dependant needs analysis
- Term vs whole life
Funeral Cover in South Africa: What You Need to Know
Funeral costs in SA average R15,000–R50,000. Learn how funeral cover works, what to look for in a policy, and how to avoid common pitfalls.
- Average funeral costs
- Cover for extended family
- 48-hour payout explained
- Waiting periods
Building a Financial Safety Net on a South African Salary
From emergency funds to retirement annuities — a step-by-step guide to building financial resilience no matter your income level.
- Emergency fund basics
- RA vs TFSA explained
- Debt management
- Budgeting frameworks
Income Protection vs Disability Cover: What's the Difference?
Many South Africans confuse these two products. This guide breaks down exactly what each covers, when it pays out, and which you might need.
- Temporary vs permanent disability
- Monthly benefit explained
- Waiting periods
- Occupation definitions
What is an FSP and Why Does It Matter?
An FSP (Financial Services Provider) is a FSCA-authorised entity that can legally sell and advise on insurance products in South Africa. Here's what that means for you.
- FSCA licensing explained
- FSP vs broker vs insurer
- Your rights as a consumer
- How Cover Now fits in
Interactive Tool
Estimate Your Premium
Use our indicative calculator to get a ballpark life cover premium before requesting a real quote from an FSP.
Life Cover Premium Estimator
Indicative estimate only — actual premiums set by FSPs
Estimated Monthly Premium
R77 – R113
per month (indicative range)
What affects your premium?
Age
The younger you are when you take out cover, the lower your premium. Premiums increase significantly after 45.
Cover Amount
Higher cover amounts mean higher premiums. Use the 10x income rule as a starting point for life cover.
Health & Lifestyle
Smokers typically pay 30–60% more. Pre-existing conditions may result in exclusions or premium loadings.
Policy Type
Term life is cheaper than whole life. Adding disability or critical illness riders increases the premium.
Occupation
High-risk occupations (mining, construction) attract higher premiums due to increased mortality risk.
Plain Language
Insurance Glossary
Insurance is full of jargon. We've translated the most important terms into plain English so you always know what you're signing up for.
Pro Tip
Always ask your FSP to explain any term you don't understand before signing a policy. You have the right to a clear explanation under the FAIS Act.
FSP
Financial Services Provider — a FSCA-licensed entity authorised to sell and advise on financial products in South Africa.
FSCA
Financial Sector Conduct Authority — the South African regulator that oversees financial services providers and protects consumers.
Premium
The monthly or annual amount you pay to maintain your insurance cover.
Excess
The amount you must pay out of pocket when you make a claim before your insurer covers the rest.
Underwriting
The process by which an insurer assesses your risk profile to determine your premium and cover terms.
Beneficiary
The person(s) who will receive the payout from your life or funeral policy when you pass away.
Waiting Period
A set period after taking out a policy during which certain claims will not be paid — common in funeral and life cover.
VAPS
Value-Added Products — add-ons to vehicle insurance such as roadside assistance, tyre & rim cover, and scratch & dent protection.
Lapse
When a policy is cancelled due to non-payment of premiums, resulting in loss of cover.
Surrender Value
The amount paid out if you cancel a whole life or investment policy before maturity.
RA
Retirement Annuity — a tax-efficient savings vehicle designed to provide income in retirement, regulated under the Pension Funds Act.
TFSA
Tax-Free Savings Account — allows South Africans to invest up to R36,000/year (R500,000 lifetime) with no tax on growth or withdrawals.
Smart Decisions
5 Things to Know Before Getting Cover
Always check that your FSP is FSCA-authorised before signing anything.
Read the exclusions section carefully — this is what your policy won't cover.
Disclose all pre-existing conditions honestly — non-disclosure can void a claim.
Review your cover annually as your income, debts, and family situation change.
Keep your beneficiary details updated — outdated details can delay payouts.
Reclaim Your Financial Power
Cover Now has partnered with Fair Score — a South African fintech pioneer offering an innovative, alternative approach to credit scoring and financial inclusion. If you've been declined credit, are over-indebted, or simply want to rebuild your financial standing, Fair Score's Score Improvement Program was built for you.
Fair Score's proprietary alternative credit score — accelerated by South African Government departments — helps financial organisations see you more fairly, opening doors to credit and insurance products that were previously out of reach.
Credit Profile Assessment
Know where you stand — a confidential, personalised legal assessment of your credit report.
Legal Identity Restoration
Clear your name through affordable legal channels. Fair Score uses compliant mediation, not debt review.
Credit Score Restoration
Your Fair Score — a locally developed alternative credit score that helps lenders see you fairly.
Access an Acceptable Marketplace
Connect with trusted, registered financial partners who believe in second chances and fair deals.
Fair Score
fairscore.co.za
Score Improvement Program
Launching publicly soon — get early access to South Africa's most accessible credit rehabilitation solution.
Who Fair Score Helps
Program Includes
Ready to Put Your Knowledge to Work?
Now that you know what to look for, let us connect you with an authorised FSP who can give you the right cover.