long-term insurance
When you take out your cover, you can choose a premium pattern that suits your needs. Most insurers offer level premiums, compulsory premiums, and age-rated premiums, all of which serve a different purpose depending on your specific needs.
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
If you own shares in a business together with other shareholders, it is advisable to put what is termed buy-and-sell cover in place on the lives of the shareholders – specifically where you have a large portion of your wealth
While income protection cover is generally more expensive than taking out lump sum disability cover, it is important to remember that this type of cover is occupation-based and is priced according to the risk that an individual presents to an
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.
As a lump sum payout, dread disease cover is designed to provide financial relief soon after diagnosis of a severe illness. Once the claim has been paid, you are free to use the money as you see fit.
