MD
Mama Dlamini Verified
Soweto, GP · 04 May 2026 · Funeral Cover
Paid within 36 hours
Buried my brother in April. Submitted documents Monday, money in my account Tuesday afternoon. Old Mutual has been with our family for three generations.
Best for funeral & legacy
Old Mutual
Africa's oldest financial brand
Good for familiesTrusted local insurer
Editor score
4.3/5
Claims turnaround
96 hours
Avg premium
—
Pricing tier
Mid-range
Editor verdict
Old Mutual remains the default for funeral cover and long-term savings across South Africa, with reach into communities no direct insurer matches. Short-term insurance and digital tooling are weaker, so treat OM as a life-and-funeral specialist rather than a one-stop shop.
Best for
- Funeral cover families
- Long-term savers
- Township and peri-urban households
Not for
- Digital-first short-term shoppers
- Customers wanting fast app-led service
Score breakdown
How Old Mutual scores, dimension by dimension
Overall
4.3
out of 5
Composite of 5 weighted criteria, refreshed quarterly.
Price competitiveness4.1/5
Claims experience4.5/5
Digital experience3.6/5
Coverage breadth4.7/5
Customer service4.4/5
Customer reviews4.2/5
Pros & cons
Pros
- Trusted 175-year brand
- Wide product range
- Funeral & life leader
Cons
- Slower digital tooling
- Traditional broker channel
Products
Old Mutual product range
Funeral Cover
from R55/pmFamily cover up to R100 000 with 24–48-hour payouts.
Greenlight Life
from R180/pmTerm and whole-of-life cover with disability and dread-disease riders.
Investments
from R350/pmRetirement annuities, savings plans and Old Mutual Wealth portfolios.
Short-term (iWYZE)
from R650/pmPersonal car and home cover via the iWYZE direct brand.
Discounts & rewards
What lowers your Old Mutual premium
Family discount
Bundle multiple lives onto one funeral policy for stepped discounts.
Loyalty bonus
Annual loyalty cash-back on Greenlight policies kept claim-free.
Adviser bundle
Discounts when funeral, life and investments are combined.
Employer scheme rates
Discounted group rates via employer-sponsored funeral schemes.
Customer reviews
What Old Mutual customers say
Rating
4 of 4 reviews
LM
Linda M. Verified
Johannesburg, GP · 26 Apr 2026 · Greenlight Life
Solid life cover, slow digital
My R2m Greenlight cover is great value at age 38. Only complaint is the client portal — updating my beneficiary took three emails to sort out.
SB
Sipho B. Verified
Durban, KZN · 14 Apr 2026 · Investments + Life
Adviser made the difference
My adviser has restructured my RA twice in seven years to match life stage. Performance is solid and fees are fair for the level of advice.
LM
Lebo M. Verified
Pretoria, GP · 29 Mar 2026 · iWYZE Car
iWYZE car cover is mid-pack
Cover quality is fine but I'm paying R90 more than King Price for the same risk profile. Stuck with iWYZE for the bundle with our funeral cover.
Reviews are submitted by South African policyholders and verified against policy numbers. We never edit content.
FAQ
Old Mutual, answered
Company snapshot
Who is Old Mutual?
Founded in 1845, Old Mutual is a pan-African financial services group with deep roots in life, funeral and savings products.
Founded
1845
Headquarters
Pinelands, Cape Town
Parent group
Old Mutual Limited (JSE: OMU)
Employees
30 000+ group
FSP number
FSP 703
Ombudsman
OLTI · OSTI
Support hours
Mon–Fri 08:00–17:00
Claims line
0860 50 60 70 (24/7)
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