TIPS WHEN BUYING ASSURANCE

long-term disability benefit.

When deciding how much cover you need, work out the income your family will need after you die, or the monthly income you and your family will need if you become disabled and cannot work. This may exclude your mortgage bond, vehicle and other debt repayments if you have credit life assurance or savings that can be used to settle these liabilities.

One of the main reasons people take out life cover is to protect their children’s financial future. When you have a new child, or the number of your dependants increases, make sure that your policy is amended to provide for additional cover.