{"id":221128,"date":"2022-04-03T09:26:11","date_gmt":"2022-04-03T07:26:11","guid":{"rendered":"https:\/\/mypr.co.za\/?p=114514"},"modified":"2022-04-03T09:26:11","modified_gmt":"2022-04-03T07:26:11","slug":"why-do-life-insurance-companies-care-about-your-birthday","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/why-do-life-insurance-companies-care-about-your-birthday\/","title":{"rendered":"Why Do Life Insurance Companies Care About Your Birthday?"},"content":{"rendered":"<aside class=\"scaip scaip-1 \">\n<aside id=\"republication_tracker_tool-2\" class=\"republication_tracker_tool clearfix\">\n<h5 class=\"adtitle\">Republish for Free<\/h5>\n<div class=\"license\">\n<p><button name=\"Republish This Story\" id=\"cc-btn\" class=\"republication-tracker-tool-button\">Republish This Story<\/button><\/p>\n<p><a class=\"license\" rel=\"noreferrer license noopener\" target=\"_blank\" href=\"http:\/\/creativecommons.org\/licenses\/by-nd\/4.0\/\"><img decoding=\"async\" alt=\"Creative Commons License\" class=\"lazyload\" src=\"http:\/\/www.myza.co.za\/press\/wp-content\/uploads\/2022\/04\/why-do-life-insurance-companies-care-about-your-birthday.png\"><\/a><\/p>\n<p><img decoding=\"async\" alt=\"Creative Commons License\" src=\"http:\/\/www.myza.co.za\/press\/wp-content\/uploads\/2022\/04\/why-do-life-insurance-companies-care-about-your-birthday.png\"><\/div>\n<div class=\"message\">\n<p>Republish our articles for free, online or in print, under a Creative Commons license.<\/p>\n<\/div>\n<\/aside>\n<\/aside>\n<figure id=\"attachment_114515\" aria-describedby=\"caption-attachment-114515\" class=\"wp-caption alignleft\"><a href=\"https:\/\/mypr.co.za\/?attachment_id=114515\"><img loading=\"lazy\" decoding=\"async\" alt width=\"300\" height=\"166\" class=\"wp-image-114515 size-thumbnail lazyload\" src=\"http:\/\/www.myza.co.za\/press\/wp-content\/uploads\/2022\/04\/why-do-life-insurance-companies-care-about-your-birthday-1.png\"><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-114515 size-thumbnail\" src=\"http:\/\/www.myza.co.za\/press\/wp-content\/uploads\/2022\/04\/why-do-life-insurance-companies-care-about-your-birthday-1.png\" alt width=\"300\" height=\"166\"><\/a><figcaption id=\"caption-attachment-114515\" class=\"wp-caption-text\">Steph Bester, the CEO of AllLife<\/figcaption><\/figure>\n<p>Save tens of thousands of Rands by getting your life cover in place before your next birthday<\/p>\n<p>You may be ageing better than a fine wine but as you get older your birthday doesn\u2019t just come with cake, candles and presents. If you don\u2019t already have life insurance in place, with each birthday you will end up paying much more when you do finally decide to take out this essential cover.<\/p>\n<p>This is according to Steph Bester, the CEO of AllLife, an authorised financial services provider. He says that the reason you face higher premiums with each year you delay life insurance is a case of simple maths.<\/p>\n<p>\u201cWith every year you age, you are one year closer to the eventual date of passing and once over 40, your chances of developing health challenges such as cholesterol, blood pressure and diabetes all increase. This means the older you are, the more risk involved in insuring you and, therefore, the more expensive life insurance becomes. In other words, the risk of you getting ill, developing a chronic or life-threatening condition or dying increases with each birthday and the cost of your life cover will reflect this,\u201d Steph explains.<\/p>\n<p>He gives an example: \u201cSomeone who is about to turn 43 takes out life insurance. They could be saving thousands of rands over the remaining term of the life insurance policy just by signing up before their birthday. Steph adds that age is an important contributor used to determine life insurance premiums, which are usually paid on a monthly basis. These are calculated using a complex mathematical equation called \u2018actuarial tables\u2019.<\/p>\n<p>\u201cEveryone\u2019s premiums are different as there are a number of factors that are used to determine your risk and, therefore, your premium. In addition to age, these calculations take into account your gender, your overall health including your weight, any pre-existing conditions, whether you are a smoker, your family history and even your occupation,\u201d says Steph.<\/p>\n<p>So, at what age should you take out a life insurance policy? \u201cThere is no right or wrong age,\u201d he says \u201cbut the longer you wait, the more you will pay and the higher the risk, especially if you have a family that depends on your income. Most of us go through life assuming we\u2019ll reach a ripe old age \u2013 and that\u2019s fair, because most of us do. The reason why life insurance is so important though, is that it\u2019s a financial GIFT that you leave your loved ones that will protect them from financial fallout in the event of your death and allow them to continue with the most important things.\u201d<\/p>\n<p>Steph concludes, \u201cYour life insurance is an investment in your family\u2019s financial security and it should be as important as paying your bond or putting food on the table. There are so many life insurance options available that almost everyone can find a policy that meets their needs and budget. The important thing is that you have the cover in place.\u201d<\/p>\n<p>So, if your birthday is coming up, reflect and take stock of the gift that you want to leave for your loved ones. The sooner you put a plan in place, the more cost effective it will be.<\/p>\n<p>SMS LIFE to 41659 or go to www.alllife.co.za to secure a future for your loved ones<\/p>\n<p>Products are underwritten by Old Mutual Alternative Risk Transfer Limited a Licensed Life Insurer.<\/p>\n<p><a href=\"http:\/\/mypr.co.za\/contact\/featured\/\">CLICK HERE to submit your press release to MyPR.co.za<\/a>.<\/p>\n<div class=\"entry-pagination pagination\">Pages: <span class=\"post-page-numbers current\"><span class=\"screen-reader-text\">Page <\/span>1<\/span> <a href=\"https:\/\/mypr.co.za\/why-do-life-insurance-companies-care-about-your-birthday\/2\/\" class=\"post-page-numbers\"><span class=\"screen-reader-text\">Page <\/span>2<\/a><\/div>\n<p><a href=\"https:\/\/mypr.co.za\">Source: MyPR.co.za<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Republish for Free Republish This Story Republish our articles for free, online or in print, under a Creative Commons license. Steph Bester, the CEO of AllLife Save tens of thousands of Rands by getting your life cover in place before your next birthday You may be ageing better than a fine wine but as you [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":221129,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","ngg_post_thumbnail":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[9021,1],"tags":[3257],"class_list":{"0":"post-221128","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-mypr","8":"category-south-africa","9":"tag-mypr","10":"entry"},"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/www.myza.co.za\/press\/wp-content\/uploads\/2022\/04\/why-do-life-insurance-companies-care-about-your-birthday.png","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/221128","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/comments?post=221128"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/221128\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media\/221129"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=221128"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=221128"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=221128"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}