Death, Disability and Critical Illness Planning


Having sufficient cover at Death, Disability or Illness not only relieves the financial and emotional strain on yourself but also on the loved ones around you.

Our biggest asset is not in any material thing but in our ability to earn an income and with that create a life for ourselves and our family. That is why ensuring that income and subsequent life when our ability might no longer be there should be a priority for any individual with family, loved ones or assets.

Types of Insurance

We have all heard at one point or another about some form of life insurance, but insurance in a properly constructed Financial portfolio doesn’t simply stop at only Life Insurance. We believe that any person should have a tailor made Insurance Policy that fits their individual needs. We do this by providing insurance on the following according to our clients’ needs:

Life Insurance

This is the simplest form of insurance as it states exactly what it stands for. However, knowing how much life insurance one needs is where sound financial advice come in. Life insurance mainly looks after your loved ones left behind and can assist them in maintaining their way of life.

Disability Insurance

Disability insurance covers you in the unfortunate event where you can no longer perform your occupation. This insurance can be in the form of a lump sum or on a monthly basis called Income Protection. We recommend a combination of both, where the lump sum cash can assist with debt reduction or improvements to assist with your disability and the Income protection provides a monthly income till retirement.

Critical Illness Insurance

This insurance is relatively new to the insurance industry but has become one of the most valued and appreciated insurance products. It covers illnesses that might not result in your death, but will have a huge financial and emotional impact on your life and those around you. The 4 main illnesses covered are: Cancers, Heart Attacks, Strokes and Cardiovascular Disorders.

Tax on Insurance policies

Life Insurance policy – If you nominate beneficiaries for the proceeds, all payouts are tax free and will also not form part of your estate for estate duty purposes. If there are no beneficiaries nominated, the payouts will form part of your estate and will therefore be included for estate duty tax.

Disability Lump sum policies – All lump sum disability pay outs will be tax free and premiums are not tax deductible.

Income Protection Policies – An individual is only allowed to insure up to a maximum of 75% of their income. These policies pay out tax free but the premiums are not tax deductible.

Critical Illness Policies – These policies pay out as a tax free lump sum and the premiums are not tax deductible.

Planning is bringing the future into the present so that you can do something about it now.Alan Lakein

If you want to live a happy life, tie it to a goal. Not to people or things.Albert Einstein


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