FNB Life Insurance 2026 Review
Highest published cover ceiling in our sample — up to R100 million on Life Customised. FNB customers earn 1-15% eBucks cashback on monthly premiums based on reward level — at Level 5 (or up to 40% on campaign offers), the effective premium is among the lowest in the market. Underwritten by FirstRand Life Assurance.
Max cover (Customised)
R100 million
eBucks earn
1-15% premiums back
Underwriter
FirstRand Life Assurance
Premium Payback
4 months after 36 months (Life & Legacy)
Application
FNB App, online, branch
Product range
Simplified / Customised / Funeral / Family / Legacy
Key features
- • Life Customised up to R100m (highest published ceiling among SA insurers)
- • Life Simplified for limited-disclosure entry product
- • Funeral Cover and Family Cover add-on products
- • Life & Legacy whole-of-life with Premium Payback in eBucks
- • eBucks earn 1-15% of premiums (40% on selected 2026 campaigns)
- • Underwritten by FirstRand Life Assurance Limited
Frequently asked questions
How much eBucks can I earn back on FNB Life premiums?+
FNB customers earn 1-15% of monthly premiums back in eBucks each month, based on their FNB reward level (Level 1 = 1%, Level 2 = 2.5%, Level 3 = 5%, Level 4 = 7.5%, Level 5 = 15%). Some 2026 campaigns push Level 5 earn up to 40% on premium-cashback offers. For Premier and Private clients on Level 5, this materially cuts net cost of cover.
What is FNB Life Customised cover?+
Customised is the full-underwriting flagship product, with cover up to R100 million — the highest published ceiling among major SA life insurers. Full medical underwriting required (medicals, occupation declarations, financial assessment). Suitable for high-net-worth, business assurance, and bespoke estate planning.
What is the FNB Life & Legacy Plan Premium Payback?+
Life & Legacy is a whole-of-life policy with a built-in premium payback option: 4 months of average premiums (calculated over the last 36 months paid) are returned in eBucks. A modest savings element built into the lifetime cover.
Do I need to be an FNB customer for FNB Life?+
No — FNB Life is open to non-FNB customers, but the eBucks earn benefit only applies to FNB account holders with active eBucks reward levels. Non-FNB applicants effectively pay the headline premium without the cashback uplift. If you're a Premier or Private banking client, FNB Life often becomes the cheapest effective option in your portfolio.
Important
This article is for general information only and is not financial advice. Figures and rules change frequently — always verify with the official source before acting.