insurance policy
You will not be taxed on your severe illness payout. All payments made to you from your policy will be tax-free.
Unlike a life annuity (which is an insurance policy designed to provide a guaranteed income for life), a living annuity is an investment held in the investor’s name which is generally linked to an underlying investment on a LISP platform
Life annuities generally cease to exist on the death of the policyholder, except in the case of joint life annuities in which case the surviving spouse will continue to receive an annuity income for the remainder of his life or
Investors are permitted to take out as many retirement annuities as they like. However, the tax benefit is calculated in aggregate and not in respect of each retirement annuity. Similarly, the tax-free portion at retirement may only be claimed once.
Understanding exactly how your benefit is structured is important as it generally impacts on your other long-term insurance benefits. At the outset, it is essential to know whether your benefit is a standalone or supplementary benefit, or whether it is
In your estate planning file, you can include instructions pertaining to your burial or funeral. This can be in the form of guidance to your loved ones as to whether you wish to be buried or cremated, where you would
f a business owner dies or becomes permanently disabled, he would naturally want to ensure that the remaining shareholders have enough capital to buy his shares from his deceased estate. Depending on the value of the business, the surviving shareholders
