Indexed Universal Life Insurance
in South Africa

Seeking comprehensive life insurance in South Africa? Capital for Life is your trusted partner, renowned for providing tailored jumbo life insurance and premium financing services to high-net-worth individuals in South Africa.

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"Carlton’s knowledge and expertise is invaluable in the field of life assurance planning for HNW individuals and families. - Matt T.

Premium Life Insurance in 
South Africa

What is Indexed Universal Life Insurance?

South Africa
Life Insurance Business

From South Africa to the rest of the world, Capital for Life provides life insurance cover for up to $165m for high net worth clients.

Our multi-pay and premium financing options for jumbo life policies and our comprehensive support and service make us a trusted partner for financial advisers in South Africa.

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Safeguard your
financial legacy

We serve high-net-worth clients and entrepreneurs, top tier executives, and sports and pop stars from across the world. Open an iul account today and secure your life and legacy.

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$734 Million+




Trusted Expertise at
your fingertips

“Carlton is an experienced & learned professional in the life assurance space, who has helped, not only clients but me, navigate the world of high value life assurance through education on the concepts, the application, the processes, and procedures in a clear and concise manner, as to allow me to imbibe others with the same knowledge. He is affable, thoroughly professional and is a pleasure to work with many of my clients and colleagues”.

Raj Srivastava

Executive Director at
Arrow Capital

“Carlton Crabbe and the team at Capital For Life have been an immeasurable asset. Carlton’s experience in structuring solutions for our HNW clients has been a great benefit to our team, and the feedback from our valued clients has been unanimously positive.”

Bob Bhowmik

Chief Operating Office at
SVN Capital

"I've had the pleasure to work with Carlton and the whole team on a number of occasions. I've found them very professional and thorough when preparing UL cases for my clients. Carlton has a wealth of knowledge on his offering and the whole CFL team is first class in their work behind the scenes."

James Gormley

Senior Partner at
Finsbury Wealth

"Working with Carlton is a pleasure. He delivers a constant high level of quality work and is always responsive and communicative."

Hugh McGrenra

Business Development Manager at
ARIA Capital Management

"Carlton is an invaluable trusted advisor who identified creative solutions for my high net worth clients using specialised life insurance options. He is a true expert in this field and someone who increases the professionalism in this specialist area."

Marc Beattie

Director at
Wealth Management Services

“Carlton has been exceptional in helping us and our clients with the best support and guidance we could wish for.  We will continue to use Carlton forever more and would highly suggest that everyone else does the same too.”

Stefan Terry

Chief Executive Officer at
SVN Capital

"Carlton and his team at Capital for Life go above and beyond to help us propose and implement unique retirement and estate planning vehicles for our high net worth clients. Capital for Life’s suite of product offerings are unique in many ways and lend them themselves to significant generational wealth creation and preservation. I see Capital for Life becoming a larger part of international wealth planning in the future and would recommend them to anyone without reservation."

Thomas Goldie

Senior Wealth Adviser at
Hoxton Capital Management

“Having worked with Carlton for many years, I saw first-hand the care he took to get to the right solution for clients and how collaborative he was with colleagues. In recent years, he has specialised in offshore planning, notably trusts and life assurance, to an extent that there’s nobody I’m aware of in the industry who knows more about those areas.”

Simon Bullock

Founder of chartered financial planning boutique,
Mulberry Bow

"Carlton really stands out as a true expert within the market. Carlton has been instrumental as a trusted advisor to my high-net-worth clients because of his ability to provide specialised and creative life insurance products for retirement and estate planning."

Lloyd Simpson

Partner at
GSB Capital

"I highly recommend Capital for Life for when it comes to life insurance solutions. The team is extremely knowledgeable & professional. Carlton is a true expert in his field and he along with the team always remain on hand to provide assistance."

Gareth Bowkett

Associate Director at
Indigo Financial Analysis

"I am extremely pleased with the high-value life insurance products and retirement planning strategies that Capital for Life designed for my client. As a trusted advisor in this specialised area, Carlton and his team helped through every aspect of the application process to make this seamless and effortless for both the client and myself. The Team is highly experienced, knowledgeable and professional."

Stuart J. Mizen

Senior Investment Manager at
SVN Capital

Free South Africa Indexed Universal Life Insurance Resources

Our comprehensive articles offer insights into the world of IUL, helping you make informed decisions for your financial future.

Frequently Asked Questions

We're committed to providing you with the information you need to make informed decisions about your life insurance coverage.

How does life insurance in South Africa work?

A resident of South Africa can buy a life insurance policy from a local life insurance company like FNB Life, Sanlam or Discovery Life.

International life insurance policies are also available from some of the world's biggest and strongest global life insurers.

Life insurance premiums are typically paid monthly or yearly depending upon the size of the insurance policy being purchased.

Local South African life insurance companies’ monthly premiums start from Rand 100 for a low level of life cover. Compare this to international life insurers whose premiums typically start at least $10,000 a year for a minimum of $1m of life cover upwards.

How are life insurance premiums decided in Africa?

Your life insurance premium is calculated based on where you are living in Africa. Each of the 39 African countries has its own risk rating by an insurance company. So your country of residence, age, gender, smoking status and amount of cover will decide how much life cover will cost in Africa.

How much life cover can I get living in Africa?

Our appointed life insurance advisers in Africa will take you through a questionnaire that will be used by the insurers to assess how much life cover you can get and how much it will cost you.

Find out how much life cover you can buy if you are a South African or African resident on the Capital for Life website.

What types of life insurance cover are there for African residents?

Anyone living or working in Africa can benefit from taking out life insurance if it is available.

Both ex-pats and African nationals can benefit from the same types and level of cover which are:

  • Whole of life
  • Universal life insurance
  • Term insurance
  • Renewable term insurance

Different types of life cover are available to meet different needs.

Can a South African finance a life insurance policy?

South African residents can premium finance a life insurance policy.

International life insurance single premium policies can often be premium financed by a bank or third party lender. This option doesn't exist for local African insurers.

Local and international life insurers give African residents the ability to pay for their policy over a number of years, or for the rest of the policy term.

How many life insurance policies can I have in South Africa?

There is no limit to the number of life policies a resident of South Africa can buy. The South African Long-term Insurance Act 52 of 1998 governs local life insurance companies.

For example, a South African resident may be insured through a group life insurance policy, as well as their own individual life cover policy.

Whilst multiple life insurance policies can be held, an insurable interest needs to exist. An insurable interest means you can justify the amount of life cover you are applying fo. The amount of life cover you can buy considers how much cover you already have in place with an onshore African insurer, or any existing policies you hold with an offshore insurer.

Can I claim on multiple life insurance policies in South Africa?

Multiple claims can be made on life insurance policies on a South African or African resident. Beneficiaries of the deceased person can make a claim for the death benefit on each of the life insurance policies that the individual holds.

However, some local South African insurance companies may reduce the payout if the deceased person is holding more than one life policy from a different insurer. It is important to check if your insurer will reduce your life cover if you have several life policies.

Where can I get a life insurance medical in South Africa?

Medical centres across South Africa carry out life insurance medicals for both local and international life insurance companies.

Each insurer will have their own preferred medical centres and these can be found from your local South African life insurance broker or financial advisor working with you to get cover.

Some of the clinics in South Africa approved by life insurers for medicals include The Mayo Clinic of South Africa and Life Healthcare.

Where can I get a life insurance medical in Africa?

Medical centres across continental Africa carry out life insurance medicals for both local African insurers and international life insurance companies.

Each insurer will have their own preferred medical centres and these can be found from your local African life insurance broker or financial advisor working with you to get cover the cover you want.

African medical centres used by life insurers include the Euracare Multi-Specialist Hospital in Nigeria, Nakasero Hospital in Uganda and Premier Care in Tanzania.

Can I get 'no medical' life insurance in South Africa?

A South African resident can typically get up to US$2m of life insurance cover in South Africa with no medical requirements. However, some age restrictions apply to no medical life insurance applications in parts of Africa and South Africa.

For example, previous serious medical conditions and older life insurance applicants will require a medical examination before a life insurer will make an offer of cover.

Is life insurance taxable in South Africa?

In South Africa, life insurance policy payouts are generally not taxed. However, the premiums paid for the policy may be subject to tax, depending on the circumstances. For example, premiums paid by an individual for their own life insurance policy are generally not tax-deductible. However, premiums paid by a business for the life insurance of an employee may be tax-deductible as a business expense.

It's important to note that the tax treatment of life insurance premiums and payouts can vary depending on the specific details of the policy and the circumstances of the policyholder. It's always a good idea to consult with a qualified tax professional or financial advisor to understand the tax implications of your life insurance policy.

How do I submit a claim for a life insurance payout in South Africa?

Beneficiaries of a life policy on a South African or African resident can submit a claim as soon as a death certificate has been granted. Contact your local African appointed broker or email us at

They will inform you of the life insurance claim procedure you will need to follow and the relevant documentation required to process your claim for the death benefit of the life policy.

Can an African resident have overseas beneficaries of a life policy?

A resident of South Africa or Africa can have both local and oveaseas beneficiaries to their life policy. There is no limit to the number of beneficiaries you can have for a life insurance plan.

Why should I consider taking out life insurance through a Capital for Life appointed adviser?

Life insurance is one of the most important financial decisions you’ll ever make, which is why it makes sense to insure your life with one of the best global life insurers. All of the insurance companies we deal have a financial strength rating of 'A-' or higher from the global credit rating agency Standard & Poor's.

If you are a resident in African, speak to a Capital for Life appointed adviser in Africa.

Or speak directly to us about the options you have for life insurance and premium financing that available to you in Africa.

Email us at and we will be ready to assist you.

Is Capital for Life a South African life insurance company?

No, Capital for Life is not a South African life insurance company. We provide international universal life insurance solutions for leading international life insurers to financial advisers and wealth managers for their high-net-worth clients.

List of life insurance comanies in South Africa

There are several life insurance companies operating in South Africa, some of the most well-known include:

  1. Old Mutual: One of the oldest and most reputable insurance companies in South Africa, Old Mutual offers a wide range of life insurance products for high-net-worth clients.
  2. Sanlam: Sanlam is another leading provider of life insurance in South Africa, with a wide range of products and services to meet the needs of different customers.
  3. Discovery: Discovery is a relatively new player in the South African insurance market, but it has quickly become one of the most popular life insurance companies in the country.
  4. Liberty: Liberty is a leading life insurance company in South Africa, offering a wide range of products and services to customers.
  5. Momentum: Momentum is a leading provider of life insurance products in South Africa, Known for it's good customer service and innovative products.
  6. FNB: First National Bank also offers life insurance policies to its customers, which are underwritten by Old Mutual.
  7. Outsurance: Outsurance is a South African-based insurance company that offers a wide range of insurance products, including life insurance.

These are just a few examples of the many life insurance companies operating in South Africa, and there may be other options available depending on your specific needs and location. It's always a good idea to compare the life policies from South African life insurance companies and international life insurance policies that are available before making a decision.

If you would like to speak to an intenational life insurance broker covering South Africa, get in touch with us at Capital for Life on 00 971 52 772 6262 or email us at

Still have questions about jumbo life insurance? We're here to help. Reach out to us at or call us on 052-772-6262 for the best jumbo insurance quote in 

South Africa


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