Skip to content

Insight Back to Insights

This is what determines your life cover premiums


There are many things that influence the price you pay for your life cover. We took at a look at some of the main impacting factors.

The price you pay for your life cover depends on a number of factors. You may have little control over some of them, but they will surely have an impact. 


The first thing your insurer will ask you about when you purchase your life cover is your age. The older you are, the higher your premiums will be. 

This is because your health starts to deteriorate as you age. Many insurers say that the ideal time for purchasing life cover is before the age of 35. After 65, insurers become reluctant to cover you.

To get a glimpse of what you can pay for life cover at SmartInsure, see the table below. Note that your premiums will also be determined by other factors.

Age 18-24 = R352

Age 25-29 = R385

Age 30-34 = R418

Age 35-39 = R495

Age 40-44 = R792


Women are likely to pay less on premiums compared to their male counterparts. This is due to the notion that women live a less risky life compared to men. 

In addition to this, women tend to live longer than men in South Africa. According to the latest data released by the World Health Organisation, the life expectancy for women is 67 years while it is just over 63 years for men.


Most insurers will ask you to undergo a medical exam. This exam enables the insurer to assess the kind of risk that you carry. Based on your risk profile, your insurer may offer you different terms. 

For example, you may receive a premium loading if you’re a smoker or an exclusion if you participate in a dangerous hobby. If you’re in good health, you are likely to qualify for standard rates.

It is important to note that some insurance companies might not require a medical exam upfront but require medical testing or request medical reports in the event of any claims on your policy. 

Family medical history

When you apply for life cover, your insurer will investigate your medical history. If you have had tuberculosis or you have a family member who has diabetes, you must disclose this to your insurer.  


Do you smoke? Do you drink? Are you overweight? If you answer yes to any of these questions, then you can expect to pay a more for your life cover. These life choices make you prone to life-threatening conditions and therefore increase the risk you pose to insurance providers.

Driving record

If you have violated traffic laws in the last three years, be worried. Perhaps you have been charged for speeding or been involved in a road rage incident. Your insurer will find this information and charge you higher premiums because of it.

Whatever you do, do not give false information to your insurer as this will result in your claim being rejected altogether. 

Recent Content