income protection
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.
If your ex-spouse has maintenance obligations towards your children, it is advisable to protect these payments by ensuring that the maintenance payer has sufficient life cover and that your minor children are named as beneficiaries.
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
While young and in the process of building wealth, it is essential to protect one’s greatest asset – your income. Your income allows you to service your debt, maintain your standard of living and fund for your retirement years.
There is a big difference between brokers who are financially incentivised to sell insurance policies, on the one hand, and financial advisors who charge a professional fee.
Most companies have taken a hit as a result of the coronavirus pandemic and national lockdown. Retrenchments are on the rise and unemployment is endemic. While your retrenchment may be upsetting, avoid taking it personally.
If you applied and were granted life cover as a smoker and have subsequently quit smoking for a period of 12 months or more, it is definitely worthwhile approaching your insurer to have your premiums reviewed.
Being a single parent comes with a unique set of challenges that are sometimes difficult for those who are co-parenting to fully understand.
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.
As with dread disease, disability insurance can be a technical minefield as it varies from insurer to insurer and comes in different forms and under different names. Significantly, there is a difference between traditional disability insurance and functional impairment assurance,
