The number of SAs living with a disability.

is to provide you with financial protection if you are unable to do your job and/or can no longer perform normal dayto-day functions such as bathing, dressing or eating.

A financial advisor will be able to help you quantify your disability insurance needs, distil the options available to you and find the most appropriate and cost-effective solution for your needs. Your financial advisor consider the following:

Income protection

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Income protection is a form of disability cover that is essentially a salary protection plan.

If you are temporarily or permanently disabled, this cover will provide you with between 75% and 100% of your taxable income.

If you are temporarily disabled, you will generally be covered for up to two years.

In the case of permanent disability, you will be covered up to your nominated retirement age, generally 65.

Ensure your cover is linked to the consumer price index so your monthly payout does not lose value over time in real terms.

Lump-sum cover

Lump sum disability cover provides a single capital payout if you are permanently disabled.

This form of insurance can be used effectively to settle home loans or debt in the event of a disability.

If income protection cover is not available to you for whatever reason, lump sum disability cover can be used to provide an income, although this comes with inherent investment, longevity and inflationary risks.

Craig Torr is a founding director of Crue Invest