By choosing the right insurance for your life stage, you can be covered for whatever life throws at you. So, whether you need life cover or salary cover, make sure that you’re insured.
Life Cover
- The policy pays out when a person covered passes away.
- The amount of cover depends on your circumstances and the number of people included.
- The payout can be used for outstanding payments, paying day-to-day expenses or any future costs.
Retrenchment or Salary Protection Cover
- Will pay a monthly amount to you while you’re not working.
- Payments are a percentage of your salary so that you have money for necessities and other expenses.
Disability and Serious Illness Cover
- The cover is based on your risk profile.
- A lump sum pays out if the policyholder becomes permanently disabled due to illness or injury.
- Sometimes serious illness or dread disease cover is a long-term policy that will pay out if you are diagnosed with a specific illness.
- Use the payout for medical bills, home nursing, etc.
Funeral Cover
- Funerals are not only costly but can also happen when you least expect. This policy can cover the expense of a funeral, and take that burden off your shoulders.
- Multiple family members can be covered under one policy.
- The premiums depend on the number of people covered.
WalletWise Tip
Don’t cancel your insurance when cash is tight – rather talk to your service provider for options that will work for you.
