2.8 Specific Needs Appropriate for Long-Term Insurance Products

Most people have both personal risk (wealth protection) and investment (wealth creation) financial needs. In such situations, it is important to prioritise these needs. It is recommended that personal risk (wealth protection) needs are addressed first. This means...

2.7 Life Investment Policy

Clients need to save for a variety of reasons, e.g. saving for a new car, a deposit on a house or saving for retirement. When saving for a particular goal, the term and purpose of the saving is very important, as this could determine the type of investment vehicle...

2.6 Long-Term Reinsurance Policy

Reinsurance, also known as insurance for insurers or stop-loss insurance, is insurance that is purchased by an insurance company from one or more insurance companies (the reinsurer), to reduce the likelihood of having to pay a large obligation resulting from an...

2.5 Dread Disease/Trauma/Severe or Critical Illness Cover

Statistics show that one in three men and one in four women in SA will have a heart condition before age 60; whilst one in six men and one in seven women in SA will get cancer during their lifetimes. Advancement in medical technology means that most people who suffer...

2.4 Disability Cover Policies

In terms of its definition as a separate class of long-term insurance business, a disability policy is a contract in terms of which an individual undertakes to, in return for the payment of a monthly or annual premium, receive policy benefits on the occurrence of a...