disability cover
As a single parent, if you are unable to generate an income, you will not have a spouse or partner whose income you can fall back on. An income protection benefit is an excellent way of ensuring that you will
From a tax perspective, while the contributions paid towards your income protection policy are no longer a tax-deductible expense, the income paid from your policy should you qualify for a claim are free from tax.
As a lump sum payout, dread disease cover is designed to provide financial relief soon after diagnosis of a severe illness. Once the claim has been paid, you are free to use the money as you see fit.
Crafting a sold financial plan involves undertaking careful scenario planning and then putting mechanisms in place to protect yourself from possible detours. Life’s ‘detours’ include events such as retrenchment or job loss, divorce, terminal illness, significant loss or damage to
If you have a sentimental attachment to the family home and are considering holding on to it, be sure to understand the financial implications of doing so. As difficult as it may be, try to remove the emotions from the
Be sure to check the term of your policy. Death benefits can be purchased for a fixed term, such as ten or twenty years, or for whole of life. Similarly, some benefits, such dread disease and disability cover, cease at
The economic value of a stay-at-home mom is typically undervalued. It is estimated that the average stay-at-home mom works around 97 hours per week performing multiple roles which include child-minder, au pair, nurse, teacher, psychologist, driver, cleaner, housekeeper, chef and
Most life insurers, banks, unit trust companies and LISP platforms offer Tax Free Savings Accounts (TFSA) which are easily accessible and attractive to those wanting to reduce their tax liability, and fees will vary from provider to provider.
While a budget should be bullet proof it should not be cast in stone. As your personal circumstances change, so too should you budget. Poor market returns, unrealistic goals or expectations or changing jobs may necessitate that you adjust your
As your teenagers get older, you will need to start planning for large expenses such as vehicles, tertiary education, overseas school or study opportunities, exchange programmes and even weddings.
