underwriting
You will not be taxed on your severe illness payout. All payments made to you from your policy will be tax-free.
Generally speaking, group life cover provides more favourable underwriting outcomes at more cost-effective premiums, so the starting point when developing a risk strategy is to maximise the group life cover available to you.
When applying for life insurance, you will be required to provide information on your smoker status and insurers rely on you to provide accurate information in this regard. If you are a smoker, your premiums will be adjusted upwards to
When contemplating taking out dread disease cover, give consideration to the level of medical aid cover you enjoy. Remember, the purpose of dread disease cover is to provide you with financial assistance in the event of diagnosis to help with
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
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.
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.
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,
A ‘severance benefit’ is essentially the cash payment that your employer pays you as a result of your loss of employment. Our law provides that you are entitled to at least one week’s pay for each year of completed service,