temporary disability
With a properly structured business assurance agreement, the proceeds from such a policy are exempt from estate duty in your estate. Unlike other assets, business assurance policy proceeds are not considered part of the deceased estate's deemed property, offering a
If you are formally employed and enjoy group benefits, it is likely that your group cover includes an income protection benefit. The advantage of group life cover is that it makes long-term insurance cover accessible and available to those who
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 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
Full disclosure on your insurance application form is critical to ensure that your claim is not rejected at claims stage. Remember, even a seemingly small non-disclosure which has no relation to one’s disability can result in your claim being rejected
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.
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.
Think disability and our minds tend to think of the worst possible scenarios involving permanent injury and disfigurement. Rather than permanent disability, it is temporary disability or illness that we should in fact be more concerned with.
