life policies

What is a life policy? A life policy is an insurance contract with an insurance company which offers lump sum payments (death benefits) to beneficiaries of the insured in exchange for monthly premiums.

These policies could include further cover for dread disease and disability – which means the insured will receive either a lump sum or a monthly income for a set period of time depending on their claim – whether illness, disability or loss of income.

What can South African emigrants do with life policies?

Policies taken out before 2003/4 could include an investment portion, which can be claimed upon surrender. Where a life policy is ceded to a bank the ceding can be cancelled (assuming the debt linked to the cession has been paid) and the investment value withdrawn, but the process is more complex.

If you’re the beneficiary of a South African life policy and live overseas you can consider financial emigration to ensure proceeds can be freely transferred offshore in the event of the death, of the insured.

How does it work? will deal directly with your insurer to either assist with the surrender or make all the necessary endorsements to your policies, which means you won’t get stuck in administrative red tape.

We can also refer you to a new adviser or insurer abroad who can assist you in applying for relevant cover in your new country of residence.

What are the fees?

Our initial consultation to you is cost-free and includes a quotation for our services. Fees are fixed and payable only on successful completion of the job.

Why choose

We offer a full suite of financial services for South African emigrants at better rates than commercial banks with optimal payouts over a shorter period than other providers, and everything’s fully compliant.

  • speed: using our services means you’ll have your money faster
  • cost: no up-front payment required
  • compliance: we’re a licensed financial services provider and SARB approved foreign exchange intermediary
  • expertise: our team includes certified international financial planners, lawyers, chartered accountants, tax specialists  and bankers providing expertise in all areas of cross-border finance
  • confidentiality: your information remains private and is protected by the strictest security measures
  • convenience: we take care of the whole process, provide signature ready, completed documentation and all our services can be rendered remotely
  • value: we provide highly competitive exchange rates
  • efficiency: we boast a 100% success rate with over 15 000 clients in 80 different countries.

If you’re interested in services or need more information, simply leave your details, and we’ll call you!

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client testimonials

I recently had a great experience with CashKows and the transfer of my SA retirement annuities to Ireland. CashKows also offered to submit a closing tax return to SARS.

Mike Louw

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