LIFE INSURANCE AND AGEING

Birthdays shouldn’t just come with cake and presents; they should also be a reminder that if you don’t have life cover in place, you will probably pay more when you do take out a policy. If other people depend on your income, or if you have debt, having life insurance is a good idea. But waiting until you are older could mean paying thousands of rands extra annually, says Steph Bester, CEO of insurer AllLife. “With every year you age, you are one year closer to the date of passing, and once over 40, your chances of developing health challenges increase.”