Mutual and Federal Insurance

Is Mutual and Federal Insurance the right insurance for your needs in South Africa? Learn more about who they are and what they offer.

Who is Mutual and Federal?

It’s taken 180 years for Mutual & Federal to become one of the top leading short-term insurance companies in the country. Beginning operations in 1831 as the South African Fire and Life Assurance Company, they have grown to become one of the foremost insurers in the country. Mutual and Federal have more recently rebranded as Old Mutual Insure.

They offer life insurance, short-term insurance, disability cover, and a wide range of insurance products, such as Mutual and Federal car insurance. Their new iWYZE insurance product now makes short-term insurance available direct to the public. Old Mutual Insure also offers an innovative insurance product called “Allsure”.

How Does Mutual & Federal Insurance Cover Work?

The purpose of insurance cover is to alleviate the financial burden when you need to pay the cost of damages resulting from an insured peril, the cost of loss, or the cost of repair. Since these costs and medical expenses can be much more than the average person can afford, insurance is an uncomplicated way to ensure you will be okay even if these events happen.

The insurer will make an agreement of insurance with you, the insured, by giving you documents to sign. They also sign these policy documents, and the details of your agreement are in it. In return for paying out claims for insured perils, you agree to pay a monthly premium to the insurer, in this case, Mutual & Federal Insurance (Now Old Mutual Insure).

An insured peril can, for example, be a motor vehicle accident or robbery. There are usually exclusions included in your contract of insurance such as suicide, and sometimes there are waiting periods. To find out what the scope of your cover is, it is best to read through your policy documents before you sign the agreement.

What Does Mutual and Federal Cover?

You can cover anything from your home and life to a fleet of motor vehicles at your company with Old Mutual Insure. They can be considered a dependable service provider in the insurance industry since they have existed for centuries and have a strong financial profile.

Mutual & Federal has a large product range when it comes to insurance, which is available to South African consumers, business owners, and everyday people.

Mutual Federal Business Insurance

For small businesses and corporate enterprises, Mutual and Federal provide comprehensive insurance and a range of cover options. Get comprehensive car insurance, goods-in-transit cover, and much more at Mutual and Federal (Now Old Mutual Insure).

Mutual Federal Farm Insurance

Catering for the agricultural market, Mutual & Federal provide cover specifically for farming businesses and the perils facing them. AgriPlus is a specialized insurance product for agricultural equipment, while crop insurance protects your produce from hail, fire, chemical over-spray, and frost, as well as systematic perils (drought, excessive rainfall, diseases and pests, and wind damage.)

Mutual and Federal Marine Insurance

Mutual & Federal also cater for businesses in the engineering, marine, and risk finance industries. The marine insurance policy caters specifically for those companies whose occupation is the transportation of goods via cargo ship and includes cargo, container, and stock throughput, as well as inland transit of goods.

Mutual and Federal Personal Insurance

For car, home and possessions cover through a broker, Mutual & Federal offer a range of policies, such as Allsure, Surewise, Insurance 4 all, and family care policies. The family care policies include hospital cash plans (for loss of salary while the breadwinner is hospitalised) and personal accident insurance.

Mutual Federal iWYZE

The iWYZE policy is Mutual and Federal’s direct insurance option, which does not require a broker. It covers car, homeowners, and household insurance, as well as personal goods and personal liability insurance. There is also an option for motorcycle, watercraft, trailer, and caravan insurance.

The iWYZE product includes an automatic annual premium adjustment to make sure that the insurance value of your home increases with the value of the property. Mutual and Federal also offer 10% of all your premiums back if you do not claim in three years. There is also roadside and home emergency benefit attached to the policies.