income protection benefit
While putting money away for your child’s education is important, do not neglect your retirement funding. Without adequate retirement funding in place, you could become a financial burden on your child later in life which should be avoided at all
In the past, severe illness cover terminated at age 65. However, most insurers now provide you with the option to select whole-of-life cover which means that your benefit continues for as long as you are alive and paying your 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
If an employee becomes permanently disabled, he/she will need to take ill-health retirement from the fund and leave the fund. In doing so, the proceeds of the disability benefit will be lumped together with the retirement benefits and may be
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.
Income protection is a form of long-term insurance which is designed to replace your income if an illness or disability renders you unable to earn your income either temporarily or permanently. While many consider this type of cover to be
To ensure that any funds or assets intended for your minor children are not transferred to the Guardian’s Fund for administration, you can use your Will to set up a testamentary trust. This type of trust is automatically founded on
One’s circumstances change over time – often much quicker than we tend to realise – so give thought to the unique set of risks you currently face should you suffer from a temporary or permanent disability. Do you have debt?
If you intend to keep the marital home after your divorce, make sure that it makes financial sense for you to do so. Sentimental attachment to the marital home can blind you from making decisions that are in your financial
In a nutshell, income protection is a long-term insurance benefit designed to replace or supplement your income in the event of illness or injury which temporarily or permanently prevents you from earning an income. While you may not perceive this
