financial planning
Choosing the right medical scheme in South Africa can be challenging due to the wide range of options available. For network medical aid plans, an adult dependant might pay between R1,100 and R3,500 per month. Mid-range plans with good hospital
With a properly structured business assurance agreement, the proceeds from such a policy are exempt from estate duty in your estate. Unlike other assets, business assurance policy proceeds are not considered part of the deceased estate's deemed property, offering a
Avoid relying on your spouse to fund for your retirement. Investing towards a comfortable retirement requires careful planning, time, and a commitment to regular saving – and relying on one person to save sufficiently for two people’s retirement can be
Children under 18 cannot inherit lump sum payouts or other assets directly, as they lack the legal capacity to manage such assets. Therefore, if you intend to name a minor child as a beneficiary of a life insurance policy or
In the absence of an estate plan, problems could arise in the deceased’s estate if there are insufficient liquid assets to honour the deceased’s bequests. In order to pay the bequests, the executor may need to realise assets in the
Where bonded fixed property is bequeathed to your children, they may be required to register a bond over the property in their own name and, if they do not qualify for a bond, they may be forced to sell the
In addition to credits for your excess medical aid contributions, you can also get credits for out-of-pocket medical expenses that were not covered by your medical aid. Where you submitted these expenses to your medical aid, but they were not
Our ability to afford dread disease cover both now and into the future is paramount, so pay particular attention to your premium pattern and how you can expect your premiums to escalate over time. Importantly, ensure that your dread disease
