We've cut out the middleman! With Dial Direct Insurance there is no need for an insurance broker as the broker can take between 12.5% and 20% of your total insurance payments in commission.

1Life Direct, South Africa's first direct life insurance provider.

1Life Direct, South Africa's first direct life insurance provider, was launched this month with ambitious plans on effecting a much-needed change in this volatile industry.  Lenerd Louw, CEO of 1Life Direct explains:  "Consumers are being exploited by brokers who are selling them surplus and complicated life insurance products to benefit their own pockets."

The aim of life insurance is to cover debt and provide for dependants when you die - not to enrich the broker. Consumers deserve proper advice that is not based on commission structures. They deserve a choice, an alternative option.  And that's where 1Life Direct comes in.

"In 2004, the life component of the R70 billion long-term insurance industry was worth R10 billion in premium income and constituted 2.3 million policyholders. As for the future, we predict that by 2008, the life industry will be worth R11.5 billion and have 2.7 million policyholders. 1Life Direct aims to capture 6% of this market by 2008 with a premium income of over R500 million per year. We are confident that by the year 2010, 1Life Direct will be a significant player in the market," says Louw.

1Life Direct is 100% owned by Budget Holdings Limited (BHL), a multinational company based in Europe. The company is a fully direct operation and therefore can keep overheads down to a minimum, has lower infrastructure fees and no broker commissions, and can rebate commission usually paid to brokers back to the consumer. "Brokers earn ongoing commission, receiving monthly administration fee payments as well. These payments are made to the broker for the lifetime of the policy, and in some cases, paid upfront."

"Because the direct insurer does not incur these costs, the savings can be passed on to the client. For example, with 1Life Direct, a 30 year old female could get R1-million worth of cover for as little as R89 per month. What's more, clients can get covered within 20 minutes without needing a medical examination," says Louw.

"Our pricing structure will be particularly beneficial for the emerging market as according to a study which was carried out on behalf of the FinMark Trust, eighty-seven percent of South African adults do not have any life cover and the main reason for this is lack of affordability. From a price perspective, direct life insurance allows the consumer to save up to 22.5% on broker commissions.  In addition, brokers also charge administration and documentation fees and in some cases, a contribution to marketing costs. This, together with the broker commission means that up to a third of the consumers monthly insurance payment can go to a broker or middleman", says Louw.

For a Free online Quote Form 1LifeDirect Click Here or Call : 0860 10 53 19