Any insurance provider in South Africa is eligible to apply for membership as long as it offers long term insurance. The application is approved only by the Executive Director in consultation with its members. Any member that objects to the application has 30 days to file a dissent and provide accurate details and data on reasons for the objection. If it comes to this point, the decision on the application is passed on the LOA Board of Directors...
The Life Offices' Association or LOA of South Africa is a respected organization that's been around for over 78 years. The members come from the insurance industry or have experience in financial services. Their goals are simple and precise but basically aim to promote the growth of the long term insurance in the country.