Life Insurance Benefits - Why You need a Policy
Why You Really Do Need a Life Insurance Policy!
The modern Life Insurance policy really has many benefits! From life Insurance to Retirement Provision. You can add the benefits you need - when you need them, with no undue hassle!You pay only for what you need.
Like pure risk benefits (as opposed to traditional life cover that had an added investment premium) and don't waste money on hidden benefits that you never need.
- Buy only Life, Disability or Dread Disease cover - or all 3 together - as you wish!
- Make sure your life cover is unaffected by any disability or dread disease claim!
- Have different amounts of cover for different needs - all in one policy!
- Insure more than one life in the same policy!
- Add savings to your policy if you wish!
- Immediate cover from the time you apply - Free!
- Payment on diagnosis of a terminal illness - Free!
- Up to R100,000 instant cash paid on death - Free!
- Premiums paid back to you where you do not claim for a disability or dread disease benefit!
- No medical tests!
- Affordable, low cost premiums based on your circumstances!
Here is a guideline as to some of the insurances you can have....(please use the links)
Life InsuranceIncome Protection
Dread Disease
Retrenchment Benefit
Child Education
Future Cover
Waive Premiums
Savings
Premiums Paid Back
Funeral Benefit
Retirement benefit
Discounted Premium
Life Insurance
Whole life cover is the most popular form of life insurance because, as long as you pay the premiums you have cover.You can increase the amount of cover to meet the effect of inflation, or keep your premiums (and cover) the same.
Family Income.
If you feel your dependants may not be able to look after a lump sum of cash after a claim, this is your answer.
Proceeds payable on your death are paid as a regular monthly income, not as a lump sum.
Alternatively, you could consider a trust to control the proceeds payable.
Or, you can buy a term of cover. If you die during this term, the proceeds will be paid until the end of that term.
Accidental Death.
You may be in an occupation that has a high risk of death by accident. Or, your health may not be good and you cannot buy term or whole life cover.
In these cases, accidental death cover is your answer. It will cover you for death by accident, that cannot be traced back to your medical condition.
It is term cover, normally until age 65.
Last Survivor.
Will pay a tax-free cash lump sum on the death of the last survivor of two insured lives. Great for estate planning, especially for married couples who leave their estates to each other. In addition, no premiums are paid after the first death.
Term life cover.
A cost effective way of buying cover. You choose how long you wish to have the cover, allowing you to adapt your cover to your needs.
At the end of the time, the policy ends.
Level Term cover.
An amount of cover that does not increase and where the premium remains the same. You know exactly what you will be paying for cover at all times.
It is ideal for Bond protection as your bond should actually reduce over time and generally has a 20-year term. So, you know what your premium will be - always.
You do NOT have to buy bond cover from your bank. If you shop around, you can often get a better deal.
Income Protection
There are 2 major forms of disability cover- Occupational Disability - where you insure for a loss of income should you become permanently unable to work due to illness or injury.
- Impairment - where you insure for physical, mental, illness or inability to perform daily living tasks.
So you can insure for a loss in ability to work or a disability not at all related to your job - or both!
And you can ensure your life cover is unaffected by a this type of claim! You can have cover for life!
If you are medically uninsurable, I can still cover you for a Disability as a result of an accident. No medical exam is required!
You can insure for either;
A Tax-Free Lump Sum cash or
A Monthly Income - the definitive form of disability cover!
It protects you against a temporary or permanent loss of income as a result of a bodily injury or illness.
It can cover certain business expenses as well.
Dread Disease
Makes provision for lifestyle adjustments, treatment and possible loss of income as a result of a dread disease.Pays a tax-Free lump sum on diagnosis of a condition.
- You can ensure that a Dread Disease claim does not affect your life cover!
- You can have Dread Disease cover for life!
- You can claim for more than one event!
Retrenchment
Ever worry about your financial security should you be retrenched? Well worry no longer!This benefit will pay you cash should you be retrenched.
Money to help pay your monthly expenses and give you peace of mind and no medical tests required!
Child Education
What if something happened to you and you could no longer afford your child's education fees?This benefit will provide the money to cover your child's future education costs.
Or if they don't study further, provide cash for other needs.
But, what's more, ALL your premiums paid are returned!
Yes, if you don't claim, your premiums are refunded! Use that money to pay for their gap year, or a car or whatever.
The benefit is virtually free - why on earth don't you take it!
Future cover
What if you need to increase your cover in the future, but can't because of a life-changing event having happened to you?Well, you can use your good health today to secure additional life, disability and dread disease cover in the future!
Never again worry that you may be unable to increase your cover in the future!
Waive Premiums
Make your policy pay your premiums upon a claim! Protect your vital benefits in the future.
Premium Payback
Yes, now you can get a refund of some of your premiums!- After 5 or 10 years, you can get some premium back if you have not claimed!
- And the amount can be enhanced if you have a wellness program attached to your policy!
Savings
Perhaps you want to get a cash sum in the future?If so, you can add a savings portion to your life insurance.
- You can access the cash without affecting your life cover!
- You can select a number of funds into which to invest!
- Savings from R100 pm.
- Use the savings to pay your premiums in retirement!
Funeral benefits
Cover that offers instant cash to pay for expenses that occur upon your death.- Costs such as funeral, debts you owe and immediate cash to help your survivors whilst your estate is wound up.
- You can insure for up to R100,000!
- A claim does not affect your life cover!
- You can add other family members, including Uncles and Aunts and In-laws!
- Little or no underwriting!
- Low, low premiums!
Retirement benefit
You know how important saving for your retirement is.If you don't do it, no one else will!
Now you can save through your life policy - what could be easier?
- It's easy to understand!
- Save on fees by having one policy. And this can add up to a significant amount!
- Choose funds that are managed for you. Never again, be concerned you may be in the wrong fund!
- Get a substantial bonus for remaining invested till maturity!
- Get a portion of your life insurance premium paid to your retirement fund!
Discounted premiums
Do you follow a healthy lifestyle? Then get rewarded for it!- Meet certain criteria and get premium discounts!
- Link your premiums to your Wellness Program - the more points you earn, the better your premium discount!
Now can YOU honestly say you don't need Life Insurance?
Does your current Life Insurance have these benefits?
What would you do if your domestic staff member should die?Who will assist with getting her body back home?
What are your legal obligations?
With this free benefit, all of this is taken care of - even repatriation of her body to her home!
Please contact me with any concerns you have
083 655 2164
Medical aid pays healthcare costs.
What if a disability STOPS your income?
Peter Pyburn - Authorised Financial Services Provider, fully licensed to render financial services since 1991. Death and Disability Planning; Retirement Planning; Investment Planning; Healthcare and Estate Planning. More...
Get Metrofibre and be rewarded for for using their excellent speeds and service.
By submitting an enquiry you agree to us collecting the information in the fields above. Please refer to our POPI Manual.
Your data will be processed according to the Protection of Personal Information Act (POPIA) guidelines
South African rights reserved.
Last update: October 4, 2024