Not having insurance at the right time can cause you lose but a whole lot of inconvenience too. In this Outsurance Review, we will go over everything you might need to know.
In South Africa today, many people are appreciating income protection cover because they’ve seen how many of their friends have been retrenched and been left with the loss of an income.
There is quite a lot to insurance – knowing what coverage is a must-have, what the conditions are of the cover, what the monthly premium is, what it will cover and how much the insurer will pay out when you put a claim in.
When something goes wrong, it can be reassuring to have insurance to help with covering the expenses of your loss. South Africa has a number of excellent insurance providers, and Outsurance is a popular choice.
About Outsurance – Outsurance Review
It was in 1998, that Outsurance made the decision to ensure that their clients wouldn’t just be continuously putting in, but would get something out too. They were the ones that pioneered the concept of getting some money back if you remain claim free.
This unusual aspect with Outsurance is that their clients get a cash OUTbonus. This is a cash bonus that rewards you just because you have been claiming free for 3 consecutive years. OUTsurance pays 10% of the insurance you’ve paid in premiums back to you in cash.
That’s precisely what Outsurance clients appreciate about the insurer – they don’t dish out discount vouchers or points that but rather give their clients something useful – real money in your pockets and you get to spend it the way you want.
By remaining claim free for another 2 years, clients get another 10%, receiving 10% of your paid premiums back for each claim-free year thereafter. Outsurance like to draw your attention to the fact that after 10 claim-free years, clients will have received 7 outbonuses.
Insurance for Individuals and Businesses – Outsurance Review
Certainly today, everyone knows OUtsurance for its innovative products. They are an approved financial services provider, and apart from catering to individuals, they also launched their Business OUTsurance. This caters for the insurance needs of all kinds of businesses, regardless of size.
Later in 2010 they entered the life insurance market, providing comprehensive death, disability, and critical illness cover.
Unusual Insurance – Outsurance Review
Apart from their standard product offerings, Outsurance offers other more ‘unusual’ kinds of insurance products to cater for cyclists, 4×4 off-roading as well as watersport enthusiasts. Also, if you’re a party animal and you’ve had one too many. Their Buddy@OUT product allows you to book your own personal chauffeur who ensure you and your car arrive safely at home.
What happens if you Claim? – Outsurance Review
While you may well claim and then forfeit your Outbonus, all is not lost, as a new OUTbonus cycle starts immediately after the claim. After 3 years of not claiming, as always, you’ll still get your 10% of total paid premiums back in cash.
Outsurance have made sure that their insurance products are simple and affordable – no hidden surprises waiting for you. Another attractive aspect is that Outsurance premiums are fixed for the next 12 months. Whatever insurance you opt for, at Outsurance, you always get something out.
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