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Life insurance in Namibia

Life insurance in Namibia

Insurers, lapses and your rights

Health & life2 min read · Reviewed on by the Tulinde editorial team · how we check facts

Short answerChecked 31 October 2026
Life cover in Namibia is sold by long-term insurers registered with NAMFISA: 15 on the register in October 2026. Long-term insurance covers life, disability, funeral, fund, sinking fund and health policies. Premiums reached N$14.4 billion in 2024 (+26.8%). The trap NAMFISA points to most: premiums in arrears make policies lapse, and early withdrawals increase that risk.
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Answers come from the law, the regulator and the insurers' own documents, with the source under each answer. General information, not advice.

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On this page · 5 sections
  1. What long-term insurance covers
  2. Long-term insurance in figures (2024)
  3. Lapses: the most common trap
  4. FAQ
  5. Sources

What long-term insurance covers

"Long-term insurance comprises the following main classes: life insurance, disability insurance, funeral insurance, fund insurance, sinking fund insurance and health insurance" (NAMFISA). Under the Financial Institutions and Markets Act, a "long-term policy" is a disability, fund, funeral, health, life or sinking fund policy (section 4).

The 15 registered long-term insurers are listed on insurance companies in Namibia. Funeral policies have their own page: funeral cover.

Long-term insurance in figures (2024)

IndicatorFigure
Gross written premiumN$14.4 billion (+26.8%)
Total assetsN$83.8 billion (+12.9%)
Registered long-term insurers (31 December 2024)14
Long-term agents1,063
Long-term brokers: companies / individuals597 / 9,905
Complaints to NAMFISA about long-term insurance138

Source: NAMFISA Annual Report 2025, tables 1, 14 and 22.

Lapses: the most common trap

  • NAMFISA lists "policies lapsing due to non-payment of premiums" among the complaints it receives, with "premiums in arrears" as a root cause (Annual Report 2025).
  • "Withdrawals may increase the possibility of policy lapses" (NAMFISA).
  • Keep your debit order active, check each statement, and ask the insurer in writing what happens if a premium is missed before you sign.

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Next step

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Frequently asked questions

How many life insurance companies are there in Namibia?

NAMFISA's register retrieved on 31 October 2026 lists 15 long-term insurers, which sell life, disability, funeral and health policies.

Why did my life policy lapse?

Most often because premiums fell into arrears. Ask the insurer in writing for the dates of the missed premiums and whether the policy can be reinstated, and complain to NAMFISA if you disagree.

Sources

  1. NAMFISA educates — Long-term insurance: things policyholders should know
  2. NAMFISA educates — Focus area: long-term insurance (withdrawals and lapses)
  3. Financial Institutions and Markets Act 2 of 2021 — annotated Gazette text, Legal Assistance Centre (in force from 1 May 2026, GN 147/2026, GG 8901, with five exceptions)
  4. NAMFISA — Annual Report 2025 (figures at 31 December 2024)
  5. NAMFISA — Registered institutions and intermediaries (register retrieved 31 October 2026)

Same guide in other countries

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Regulator in Namibia: NAMFISA

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