insurance
You will not be taxed on your severe illness payout. All payments made to you from your policy will be tax-free.
In respect of a typical, non-conforming business assurance policy, the premiums are not tax deductible. However, the proceeds paid from the policy will then not be taxed and the buyer will have access to the full amount required to purchase
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
When it comes to determining the most appropriate quantum of cover, it is advisable to view the benefit in relation to the other healthcare-related benefits that you have in place, such as medical aid, gap cover, income protection, and capital
A significant advantage of a life annuity is that the policyholder is guaranteed an income for the rest of her life and will therefore never run out of money, regardless of what happens to investment markets or how long she
In theory, your bank accounts should be frozen in the event of your death. However, in practice, there is generally a delay between your death and the appointment of your executor whose job it is to notify your financial institutions
Using debt to buy an appreciating asset such as a house or a business is sensible because your debt will reduce while the value of your asset rises over time.
If you are self-employed, you may want to consider implementing mechanisms to ensure that your personal assets are protected from business creditors; whereas if you have interests in a business, business assurance mechanisms can be employed to ensure that these
For most people, their ability to build wealth is largely dependent on generating an income. If illness or injury renders you unable to work or perform your occupation, you may find yourself in a position where you are unable to
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?
