The current life altering global pandemic has taught us all lessons… about life, priorities, and what really matters to us. COVID-19 has taken a toll on all of us in so many ways. Some of us have started working remotely, others find themselves unemployed, and still others have witnessed the loss of family members. It has changed us all in deeply profound ways.
Our experiences over the last few months have most definitely caused each of us to stop and reflect on what is most important to us. It has taught us to prioritize our life.
I had to bury my father in law during this pandemic, and I was shocked at the emotional toll the finances left us with. The cost of a funeral is exorbitant and that alone was my wake-up call.
I went searching for an insurance company that would meet my unique needs, an insurer that would put my mind at ease when it comes to the following:
- I cannot be contributing to a funeral cover for over 30 years, and all I receive is R20 000? When looking at my contributions over the years, it will actually exceed the payout. Are there any products out there to make sure that I get my money’s worth?
- All I want is provide a great education for my kids. I might have a job now, but realizing that there are no economic guarantees, how do I make sure that they’ll always be ok? How do I not compromise on their chosen career path due to my financial constraints? How do I give them a great start to life which includes their financial freedom?
After having a one-on-one with one of OneSpark’s founders, Josh Kaplan, I can confidently say I found a winner. Greg Smith & Josh Kaplan have always been purpose-driven, passionate South African entrepreneurs. They have lived their lives under the belief that life is not about chasing immaterial objects, but about constantly searching for new ways to help people and society live better, more equitable and more prosperous lives.
That’s why they became actuaries, designed dozens of award-winning insurance and financial services products, helped national treasury model the funding requirements for the FeesMustFall crisis, created one of South Africa’s largest and first Social Impact Bonds and finally, started OneSpark, an insurance company (only for now…) with one purpose: to continuously innovate for the betterment of their clients and the pursuit of a better world. “We saw that the current insurance landscape for the average South African was exploitive, making large profits at the expense of the consumer.
By and large, there has been little-to-no-innovation in the insurance space for middle-to-lower-income earners in South Africa, with product choice typically restricted to funeral cover alone despite the fact that this market segment has their own complex financial needs and experience severe financial consequences if they experience a life changing event. So, we decided to change this narrative and innovate in an area that the insurance sector has forgotten and neglected, with world-first products that uplift and empower individuals to lead better lives.” Shares Josh Kaplan.
OneSpark Insurance has flipped the traditional funeral cover concept on its head, with their four unique and innovative products.
Millionaire Funeral Plan
It’s a Funeral Plan. Just a million times better. You get R50,000 if you claim and R1 million cash if you don’t. From only 99 cents a day.*
They’ve also created world-first, patented, products that allow you to protect your key living expenses if you pass away or suffer a disability, with massive payouts if you don’t claim which you can use to change your family’s lives forever.
Dream Car Plan
Ever wanted to own your dream car? With the Dream Car plan you get R20,000 life and disability cover if you claim, and if you don’t, you get R500,000 cash to help buy your dream car. From only R1.50 a day.*
University Wallet Plan
Want your child to become the doctor, lawyer or engineer that they’ve always dreamt of? It’s now possible. With OneSpark’s University Wallet Plan you protect your children’s education with life and disability cover if you claim, and if you don’t, you get R250,000 cash to help send them to university. Form only R3 per day.*
Five-Star food Plan
They’re also the insurer that can put food and groceries on the table for years, so you can focus on the things that matter in life. With the Five-Star Food Plan, you get R20,000 life and disability cover if you claim and R100,000 cash if you don’t. From only R1.50 per day *
‘We are on mission to make life insurance quicker, more accessible, smarter and fair…because traditional life insurance just isn’t’’ states Greg Smith.
A new age life insurer that’s just stepped out of stealth mode and into the limelight, with world-first products aimed at uplifting and empowering South Africans to lead better lives. Insurance that pays out more if you don’t claim? Imagine that.