LIFE COVER

Life cover is critical if you have dependants. But watch out for life products with a savings component, Gerrit Viljoen, the chief executive of Ultima Financial Planners, says.

“It’s not viable to have a life policy with a saving component; it’s your worst saving vehicle. We recommend a life policy (that covers all risks, including provision for education needs of dependants in the event of your death) and a unit trust or exchange traded fund to save for education expenses.”