Life is unpredictable and unfortunately, most South Africans are not financially prepared for unexpected life events. Should you die, who will provide financial support to your family? Who will provide for you and your family should you no longer be able to work and earn an income?
It’s important to be able to feel secure knowing you have the right cover in place.
How much life cover should you have?
You need life cover that will pay a lump sum to your estate to settle outstanding debt and cover funeral costs and expenses related to settling your estate, including executor’s fees and taxes. If you have any financial dependents, you also need cover that will provide them with an income going forward (we recommend 50% of your income as a death income benefit).
Tools to help you understand risk cover
Read more about protecting yourself and your family
Life is full of surprises
Surprises – some are good, many are bad. Are we prepared financially for curveballs life can throw at us? The statistics reveal an interesting picture.
How much life cover is enough?
Life cover is arguably one of the biggest grudge purchases in life. None of us want to confront our own mortality. But, unless we make provision for this eventuality, those we leave behind may have to cope with more than the loss of a loved one.
Get Expert Financial Advice
A Sanlam Key Solutions adviser can help you plan for tomorrow and make the most of what you have.