LIFE COVER There are two main choices when it comes to insuring your life; life assurance and life insurance. Life assurance pays a tax-free sum to an individual of your choice when you die. It provides you with cover for your entire life, as opposed to life insurance which generally only covers you for the duration of the term of your policy. With death a certainty, opting for life assurance does provide your family with a guaranteed sum. However, your premium will be significantly higher than with, for example, a fixed term life insurance policy. Policy flexibility is also more limited when choosing life assurance. Life assurance policies generally allow for increasing cover but rarely...
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Life Insurance and Protection We all want to do the best for our families, and ensure we keep them properly protected on every occasion. Understandably, nobody wants to dwell on the unwelcome and unexpected events that life sometimes has in store. This means that it can be all too easy to overlook the benefits of protection insurance that could be a great help financially in the case of an accident, illness or death. We help clients ensure they have the right types of policy in place across a range of potential risk scenarios, providing much-needed peace of mind for them and their families. It is important to remember that protection policies don’t just pay a lump sum on death or the...
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One’s for when you pass away, the other’s for when you can’t work These two types of insurance provide cover for quite different circumstances. Let’s look at the basics: Life cover Our life insurance pays out a lump sum if you pass away during the policy term or if you’re diagnosed with a terminal illness and not expected to live longer than 12 months. It’s there to help provide financial support to your loved ones so they can keep on paying the bills and continue to live how they always have. It could help them pay for the funeral, pay off the mortgage, clear any debts, cover childcare and education costs, or just cover general living expenses. You choose how long your policy lasts....
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As each day passes, we continue to age and our finances change. Additionally, many people depend on us and it becomes a huge blow for them when we die. While it is true that we cannot prevent death, we can always prepare well so that we do not leave our loved ones in great financial problems. Here are the benefits of income protection and having a life insurance. Gives Peace of Mind. Having a life insurance gives you peace of mind knowing that when you finally pass away, your family and loved ones will not languish in poverty. The life insurance provides them with a financial safety net. The Payouts Are Tax-Free. The beauty about life insurance payouts is that they are tax-free. That means...
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Max Life Insurance Company Ltd., unveiled its latest ad campaign with Royal Challengers Bangalore. Featuring ace players of the team in a geared up avatar, the brand new television commercial (TVC) attempts to reinforce the importance of financial protection in the form of term insurance to the millennial audiences, given the uncertainties brought upon by Covid-19. Max Life’s recent India Protection Quotient Express survey conducted in association with Kantar, revealed that only 51% digitally savvy, urban Indian millennials feel financially secure during COVID-19. The survey also revealed that only 36% millennials own term insurance during COVID-19. Given the uncertainties around us, term...
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Welcome to our Guide to Life Insurance Protection. It’s not easy to think about how you would secure your family’s future if you were no longer around. Understandably, we would rather not think of the time when we’re no longer around. But it’s important to protect the things that really matter – like our loved ones, home and lifestyle – in case the unexpected happens. Full replacement value For many of us, projecting ourselves into the future to see what‘s around the next bend is not an easy thing to do. But, without thinking, we insure our cars, homes and even our mobile phones – so it goes without saying that you should also be insured for your full replacement value to ensure that your...
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Business protection insurance is a catch-all name for the ways you can insure your business against the loss of a key employee or a business owner due to death, long-term serious illness or disablement. It is sold by UK insurance providers to ensure business continuity and succession planning, something overlooked by many business owners, particularly when the company is small. This guide explains the options available under the business protection insurance umbrella to help you get a clearer understanding of the kind of cover you might want to consider getting sorted to protect your business and key employees. Read on for all the info or click a link to jump ahead: Business protection is a...
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TFG OPTIONAL INSURANCE TAKEN OUT AT THE PRINCIPAL INSURED’S CHOICE Account Balance Protection Policy & Disclosure Notice (collectively, the “Policy”) 1. INSURER: This Policy is underwritten by Guardrisk Life Limited (1999/013922/06) (“Guardrisk” or “the Insurer”). 2. TYPE OF POLICY: Long-term insurance: Account Settlement in the event of death (accidental and natural death). This is a credit insurance product under the National Credit Act 34 of 2005. 3. ADMINISTRATOR: Foschini Retail Group (Pty) Ltd (1988/007302/07) (“Administrator” or “TFG”). 4. DEFINITIONS: Words importing the singular shall include the plural and vice versa; words importing a gender shall include the other gender. If...
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Apart from the economic impact, COVID-19 has brought a dramatic shift to the dynamics of parenthood. Parents who would normally be away at work, are now spending more time with their children, thereby using the opportunity to build an emotional strength to navigate these adverse circumstances. At closer proximity to family, there is also a greater consciousness and a need to protect loved ones from future uncertainties. To safeguard them from any calamity and ensure a financially sound future, it is important to evaluate the current financial priorities and make improved decisions that will help protect your family in the long run. As we celebrate Father’s Day this weekend, here are a...
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Help protect your family financially if something happens to you with life insurance Taking care of your family’s, making the correct decisions will make you as a parent span throughout your children’s lifetime. Your support and advice will guide them as individuals and stay with them forever – because your role as their guardian doesn’t stop after you are gone. Life insurance could provide you with the assurance that your loved one’s future is secured financially, should the worst happen. Planning your legacy The loss of a loved one is never easy and can be a very emotional time in our lives. The loss may be impossible to mitigate but the weight of picking up the pieces with banks,...
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