beneficiary nomination
Generally speaking, group life cover provides more favourable underwriting outcomes at more cost-effective premiums, so the starting point when developing a risk strategy is to maximise the group life cover available to you.
Generally speaking, you may not make additional contributions to your preservation fund except if the money originates from another retirement fund. Also, if you have been awarded a share of your ex-spouse’s pension interest in terms of Section 7(8) of
Once you have a living annuity in place, you are permitted to make additional contributions towards your investment provided that the funds are from an approved retirement fund. For instance, if you later decide to retire from a retirement annuity,
Another mechanism for ensuring effective succession planning is by nominating beneficiaries to your life policy or living annuity. If you wish to provide capital to your spouse and/or children in the event of your death, taking out life cover is
Unlike retirement funds whose distributions are subject to Section 37C of the Pension Funds Act, member owned living annuities are free to nominate beneficiaries to their investment. In this regard, living annuities differ from guaranteed life annuities which, generally speaking,
Don’t hesitate to have those difficult financial conversations early on in your marriage. Is there a financial demanding ex-spouse or child that is causing tension in your relationship? What happens if you need to provide financial assistance to your elderly
Now is a good time to check the beneficiary nomination on your policy as this can affect how, when and to whom the claim is paid out. If you have nominated your estate as the beneficiary on your policy, the
