Weekend Argus (Saturday Edition)
CORRECTION
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.