Saturday Star

CORRECTION

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In the Rands and Sense column “What happens to your investment­s after your death?” in last week’s Personal inance, it was stated that an endowment policy - a type of investment policy offered by life insurers - falls outside one’s estate. This is not technicall­y correct, because, while such a policy may pay out straight away to nominated beneficiar­ies (where there is a beneficiar­y nomination), the value of the policy is still deemed property in the estate and therefore subject to estate duty (unless the payout is to a spouse). We apologise for the error.

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