Be wary of 1life direct’s advertising campaign…

Be wary of 1life direct’s advertising campaign…


Saw the TV advert for 1life direct recently…watch out, the cover they are offering is incredibly expensive. Far from cutting out the middle man and therefore being cheaper, it is significantly more expensive than you could get even if you went through a broker who was charging full commission.

For example: A quote from 1life direct (with no commission) is as follows:

Policy Information
Product: 1Life Elevated
Life Cover Amount: R 1,000,000.00
Term of Policy: Whole life
Total Monthly Premium R 322.99

The same amount of cover through another insurance company, with full commission on it would cost me R183 per month. Far from being “22% cheaper by cutting out the middle man”, 1lifedirect is in fact about 77% more expensive. Now if we remove the commission from the quote then the premium for R1million life cover for me would be R138 per month and 1life direct are about 135% more expensive.

As I have said before, watch out for insurance companies and dont underestimate the value of good, independent financial advice.

That’s all for now