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Financial Services South Africa

The essential safety net: why life, disability, and funeral cover should be non-negotiable for SA workers

In South Africa, Workers' Day on 1 May isn't just a public holiday to kick back and relax - it's a reflection of the hard-earned rights and the value of the workforce that drives the nation's engine. Amid the festivities, however, lies an often overlooked aspect of labour rights: the critical importance of securing life, disability, and funeral cover for employees.
The essential safety net: why life, disability, and funeral cover should be non-negotiable for SA workers

Let's cut to the chase: Life is unpredictable. While some South African employers have workers' compensation for injuries incurred on the job, this doesn't cover the spectrum of life’s harsher realities - like illness, disability, or death outside the workplace. Here, the role of additional life, disability, and funeral insurance becomes not just beneficial but essential. Consider the implications of a worker without adequate coverage facing a life-altering incident. The financial burden can be devastating not only to the individual but also to their dependents. This is where life and disability insurance come into play, acting as a safety net, ensuring that when the waves of misfortune hit, they don't completely wash away financial stability.

Life insurance provides a lump sum to the beneficiaries of the employee in the event of their death, helping to cover everything from lost income to the educational needs of children. Disability insurance, on the other hand, provides financial assistance when an employee is unable to work due to a disability, whether temporary or permanent. This is particularly crucial in a country where safety standards vary and many jobs involve physical labour, increasing the risk of workplace accidents.

Funeral cover also holds substantial value. The cost of a funeral can be anywhere from R5,000 to over R100,000, and the last thing a grieving family needs is the stress of financial strain on top of their emotional turmoil. Funeral insurance ensures that these costs are covered, easing an important part of the grieving process.

For employers, providing these benefits is not just about ethical responsibility or legal compliance; it's about investing in the well-being of their employees, which in turn breeds loyalty and increases productivity. Employees who feel secure and valued are more likely to be engaged and committed. Moreover, in a competitive job market, offering affordable employee benefits can distinguish a company as an employer of choice.

So, this Workers' Day, let’s think beyond the braai and day of leave, and consider how we can protect our workforce in the most fundamental ways. It’s about acknowledging that our employees aren't just cogs in a machine; they're human beings with lives that extend beyond their job descriptions. Providing life, disability, and funeral cover is a profound way to respect and value these lives. It’s not just good business - it’s the right thing to do.

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Simply Financial Services (Pty) Ltd is a registered financial services provider (FSP 47146). T&Cs online.
Products underwritten by Old Mutual Alternative Risk Transfer Limited, a licensed life insurer.

Simply Financial Services
Simply offers great value life, disability and funeral cover combos, with a quick online sign-up at For you, your domestic worker and your business employees. No bloods, instant cover, all online.
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