Your health is the biggest factor. Age plays the strongest role — younger people generally pay less because they’re expected to have fewer health issues.
Your medical history, existing conditions, family health patterns, and even gender can also influence your premium. But don’t worry: well-managed chronic conditions won’t automatically prevent you from getting cover. And once your policy is active, future health changes won’t increase your premium. Positive changes, like quitting smoking, can even lower your costs over time.
Lifestyle matters — especially smoking. Smokers often pay significantly more than non-smokers for the same cover. It’s one of the few factors completely in your control if you’re looking to reduce your premium.Heavy alcohol use or high-risk hobbies (like skydiving or bungee jumping) can also push up your costs because they increase your overall risk.
The type of work you do influences what you pay, particularly for disability cover. Jobs that involve physical risk — such as mining, construction, or security work — tend to attract higher premiums. In
contrast, office-based roles usually involve lower risk.
The more cover you take, the more you’ll pay. R2 million in life cover will cost roughly double what R1 million would.Some benefits, like critical illness cover, can also be more expensive for younger adults because the likelihood of a serious illness is higher than the likelihood of passing away at a young age. Many people also underestimate the financial impact of disability — even a temporary one can affect income and day-to-day life.
Policy duration is another important pricing factor. Shorter-term cover (for example, 5 or 10 years) costs less than whole-of-life cover because it carries less risk for the insurer.
Most life policies in South Africa are whole-of-life, meaning they pay out. Disability and critical illness cover, however, usually end at retirement age — typically 65 or 70.