TIPS WHEN BUY­ING AS­SUR­ANCE

Weekend Argus (Saturday Edition) - - FRONT PAGE -

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.

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