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Life insurance is a contract between an insurance policy holder and an insurer promises to pay a designated beneficiary a sum of money the benefits upon the death of the insured person. Depending on the contract other events such as terminal illness may also trigger payment. Other expenses such as funeral expenses may also be included in the benefits. The advantage for the policy owner is peace of mind in knowing that the death of the insured person will not result in financial hardship for loved ones and debtors e.g. Bond Cover outstanding debt will be paid off in the event of the death of the life assured

Lump sum Disability insurance insures an individual against the risk that a disability creates a barrier for a worker to complete the core functions off their work, For example the inability to focus or maintain composure as with psychological disorders are an injury, illness or condition that causes physical impairment or incapacity to work. Lump sum disability proceeds should be used to eradicate outstanding debt that the individual has incurred income disability insurance insures the individual’s earned income against the risk that a disability causes restricting an individual to carry on the duties of an individual’s occupation.

Permanent Disability cover provides for your debt if you’ve suffered an injury or illness to the extent that you are unable to return to work and carry on daily work activities

Income Disability benefits, also known as income protection benefits or sickness and incapacity cover, replaces your income in the event of an illness or disability that restricts you from carrying on your daily work activities.

Income Protection provides for temporary and permanent disabilities by replacing your income until your desired age of retirement

This benefit pays out a monthly income after the Life Insured has been retrenched.

In order to ensure the availability of funds in the event of a partner’s death, most parties will purchase life insurance policies on the other partners. In the event of a death, the proceeds from the life insurance policy are used to purchase a portion of the deceased’s business interest. It is important to note that when a sole proprietor dies, since he/she has no partners, a key employee is the buyer or successor.

This benefit pays out a monthly amount to meet important expenses of the business if the self-employed Life Insured is unable to work as a result of illness or injury or is functional impaired.

Critical illness is an insurance product whereby the insurer is contracted to make a lump sum cash payment if you are diagnosed with one of the critical illnesses, which meets standardized claims criteria. Events traditionally covered include: Heart attacks, cancers, strokes, CABG (Arteries surrounding your heart) and other life threatening illnesses.

Illness benefits cover financial shortfalls that are not covered by your medical aid. The proceeds can be used at your discretion. E.g. Medical procedures, surgery (not covered by medical aid), additional payments towards your home loan, recuperation cost or a holiday.