group life cover
A continuation option allows you to convert your group life cover into personal cover within 60 days of leaving your employment without having to undergo medical underwriting which means that you are likely to enjoy more favourable premiums.
Understanding your retrenchment benefits is of great importance. As a minimum, the employer is required to provide you with one week’s remuneration per completed year of service, plus any outstanding leave paid in full. That said, many reputable employers make
Further, it is important to bear in mind that, while a member’s beneficiary nominations are taken into account by the trustees of the fund, it is the trustees who make the ultimate decision regarding distribution of the death benefits.
When financing a property using a home loan, it is common for the financing institution to insist that you take out bond cover as security for the loan. While most financing institutions offer bond cover to their customers, it is
The type of policy you have in place, together with the applicable regulations, will impact both your beneficiary nomination and the policy's payout, so it is important to understand the nature of each policy you have in place.
Ensuring that you remain adequately protected in respect of death and disability throughout the transition period is equally important as any lapse in cover can leave you at financial risk. Before joining your new employer, ask for all details pertaining
Remember, your severance benefit will be taxed as per your retirement benefit with the first R500 000 being tax-free. When calculating your tax-free portion, bear in mind that SARS will take into account all previous taxable withdrawals, retirement benefits and
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.
When applying for life insurance, you will be required to provide information on your smoker status and insurers rely on you to provide accurate information in this regard. If you are a smoker, your premiums will be adjusted upwards to
If you are dependent on generating some form of income in your retirement years, it is wise to consider your prospects of re-entering the workforce if your ideas for earning income don’t come to fruition. If there’s even a remote
