FNB Life Insurance Vs Nedbank MyLife Cover
FNB's Life & Legacy Plan and Nedbank's MyCover Life both fold funeral-style benefits into their life insurance cover. Verified against both banks' sites in July 2026.
| Feature | FNB Life & Legacy Plan | Nedbank MyCover Life |
|---|---|---|
| Life cover | R100,000 – R1.5 million | Accidental death up to R3 million |
| Funeral-style cover | R30,000 advance funeral benefit within 24 hours | Funeral cover up to R75,000 (main member + 1 spouse + 3 children + 4 parents) |
| Executor costs | Up to R100,000 toward executor fees | Not offered |
| Extras | Flexible payout — lump sum, monthly income, or Minor Beneficiary Trust | Grocery benefit up to R5,000; trauma counselling and legal assistance |
| Underwriter | FirstRand Life Assurance Limited | Nedgroup Life Assurance Company Limited |
The key difference
Nedbank's headline figure (R3 million) only applies to accidental death; natural-cause death is covered separately, and lower, through its R75,000 funeral benefit. FNB's R1.5 million life cover applies more broadly, plus it specifically covers executor fees — useful for estate planning that Nedbank's plan doesn't address.
Which is better for you?
- Choose FNB Life & Legacy Plan if you want broader cover (not just accidental death) and help with executor costs for your estate.
- Choose Nedbank MyCover Life if high accidental-death cover plus a family funeral benefit and value-added support services matter most.
Compare more life insurance providers, or see our funeral cover guide if funeral protection is your main concern.
