WHAT IT COSTS

Weekend Argus (Saturday Edition) - - PERSONALFINANCE - EX­AM­PLE 1 EX­AM­PLE 2

The costs of poli­cies de­pend on many fac­tors, in­clud­ing the amount of cover, your state of health, ed­u­ca­tion and other cir­cum­stances, and the rate at which the pre­mi­ums will in­crease. Life com­pa­nies rate th­ese cri­te­ria dif­fer­ently and also have dif­fer­ent cri­te­ria for ac­cept­ing you for cover. You need to shop around, com­par­ing not only the ini­tial pre­mium, but also the pro­jected pre­mi­ums for fu­ture years. Poli­cies that are cheaper now may in­crease rapidly later. In the ex­am­ples be­low, we have quoted the pre­mium in year seven.

A man, aged 30, non-smoker, earn­ing R7 500 a month, who re­quires cover of R150 000 and has a CD4 count of 350. He is not a mem­ber of a med­i­cal scheme, but is on the govern­ment’s an­tiretro­vi­ral pro­gramme. Al­lLife: R290 a month (R394 in year seven) Al­tRisk: R518 a month (R543 in year seven) San­lam: R152 a month (R177 in year seven) A woman, aged 50, non-smoker, earn­ing R30 000 a month, who re­quires cover for R750 000 and has a CD4 count of 600. She is a med­i­cal scheme mem­ber. Al­lLife: R810 a month (R1 291 in year seven) Al­tRisk: R762 a month (R885 in year seven) San­lam: R290 a month (R435 in year seven)

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