MBABANE – Young adults in Eswatini are being encouraged to consider life insurance and income protection early in their professional lives as a smart financial decision, according to Oracle Life Eswatini.
Samkelo Ginindza, Head of Design, Pricing and Actuarial Specialist at Oracle, says starting early comes with multiple advantages, especially as people in their twenties are typically in better health and can secure lower premiums.
“Taking out life insurance and income protection in your twenties is one of the smartest financial decisions a young adult can make,” he states. “It’s not just about protecting your future family, it’s about protecting your current income, lifestyle, and goals.”
Ginindza says that beyond personal protection, life cover can serve as a tool for unlocking access to financial products such as mortgages or car loans, even before any claim is made. “A life policy can be ceded against a mortgage or motor vehicle loan at the bank, and in that way it begins to work for a young adult even before any claim event occurs.”
Oracle Life Eswatini’s digital insurance offerings are designed to be fast and accessible. “Our digital life insurance products, including the 250/50 Life cover (with up to E300,000 cover and a built-in E50,000 accelerated funeral benefit) and the Legacy Life cover (with limits of up to E10 million), are designed with simplicity, speed, and affordability in mind,” he notes. “With no medicals, no paperwork, no waiting periods, and a fully online onboarding process that takes about 15 minutes, young adults can get covered from their phones, laptops, or desktops, anywhere with an internet connection.”
Ginindza identifies several misconceptions that young people hold about insurance, including the belief that it’s only for older people, that it’s expensive, or that it’s complicated. He says these views are outdated.
“Our digital premium calculator shows that the opposite is true: the younger and healthier you are, the less you pay. For example, a 25-year-old might pay just R100/month* for R6 million in cover and lock in that premium for life.”
He adds that life cover is not only for those with dependents. “Life cover also allows you to cede for a wide range of bank loans, such as for a car or property, business. Meaning, you can unlock financial opportunities early in life.”
Among the benefits of starting early, Ginindza points to lower premiums for life, policy flexibility through the digital dashboard, and the ability to build creditworthiness at a young age. “Legacy Life cover can be used to cede a wide range of bank loans—whether for purchasing a vehicle, buying a home, business loans, or personal credit. This gives you access to credit at a younger age, empowering you to take major financial steps earlier in life.”
He also says young adults can enjoy immediate cover with no waiting period, digital convenience, and even rewards. “Some insurance companies like Oracle Life will automatically enrol you in a rewards program as soon as you buy a policy. What better time is there to enjoy big discounts than when you are in your twenties?”
Ginindza’s advice to young professionals is direct: “Start now. Use our online calculator to explore your premium options based on your age, lifestyle, health. Even our entry level cover, 250/50 Life cover, is a strong first step. Take advantage of the affordability that comes with youth and good health.”
He concludes by saying that Oracle Group Eswatini is focused on making insurance accessible: “At Oracle Group Eswatini, we believe that protecting your future shouldn’t be complicated, expensive, or out of reach. It should be digital, fast, and tailored to you.”
Visit www.oraclelife.co for more information.
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