Healthcare
If you hold both discretionary and compulsory investments, structuring your withdrawals tax-efficiently is key to preserving your wealth. You must also manage drawdowns from your living annuity carefully to prevent premature depletion of your capital or future cashflow constraints.
Managed care is used by medical schemes to reduce costs, while still keeping the quality of care high, and these can be done through provider networks, provider oversight, drug formularies, chronic condition programmes, and pre-authorisation mechanisms. While managed care programmes
The cover provided by your gap cover benefit will depend on the level of cover you opt for, which can range from 200% to 600% of medical aid tariff.
It is also important to determine whether the scheme’s annual contribution increases have been out of kilter with the rest of the industry. Again, look at the scheme’s contribution increases over the past three to five years. If they have
Be sure to keep your disability cover up-to-date and appropriate to your needs, paying specific attention to your income protection benefit which is likely to be your financial lifeline should you become incapacitated for an extended period of time. An
Depending on the terms of the divorce order, you may need to move off your ex-spouse’s medical aid and register as the principal member of your own medical aid. This may be a good time to completely reassess your healthcare
The primary function of your healthcare advisor or broker is to ensure that you and your loved ones are on the most appropriate plan option for your needs and that, as a family, you are receiving full value for the
Trying to guess how long you will live is a dangerous game to play when developing your retirement plan, and our advice is to develop a range of retirement scenarios using varying longevity assumptions so that you have a clear
As soon as you can, start putting money aside into a baby fund that is earmarked for costs such as baby, clothes, prams, car seats, nappies, formula and toiletries. Use a savings account, money market or fixed deposit to house
In the ‘Profile of older persons in SA’ prepared by Stats SA it was estimated that around 38% of South Africans over the age of 60 use chronic medication, around 20% use assistive devices such as spectacles, 10% wear hearing
