Your Insurance Needs

Risk planning and cover

Why risk planning for life events is important?

    Death, disability, and dread disease is not something we want to plan for. However, the costs and consequences that occur because of it are well worth making the necessary preparations.

What are you covering?

    When you consider insurance for a life event, you are ensuring family income protection, creating legacies, as well as catering for the medical expenses and taxation that may affect you and your estate.

Differing needs

Life events to be considered

Cover when you need it most.

In the event of death, life cover will pay a lump sum to your estate or nominated beneficiary to provide an income for your surviving family, provide legacies for educational or other needs and to accommodate for estate liquidity to settle debt.

Disability is not certain however, the consequences of not having cover in place should it happen can be devastating.

Medical costs, income protection, settlement of debt, upgrades to lifestyle to cater for your new needs (such as a wheelchair etc.) are considerations that must be taken when determining your need.

Also known as critical or severe illness, may affect your life from a medical, income and lifestyle perspective. Ensuring that you are covered for this event will ensure that you are financially secure to meet the needs that may arise.

Holistic Financial Planning

Is a Financial Needs Analysis necessary?

It is vital to complete a FNA to establish your needs and desires in comparison to what you already have in place.

Determining a surplus or shortfall to help you make an informed decision regarding your financial plan is the goal.

Without full disclosure of your financial needs and your current financial situation, your FNA may be negatively impacted, thus rendering the advice limited. This will not be in your and your loved one’s best interest.

Family circumstance

Is it necessary to know everything about me and my family?

To reap the benefits of Holistic Financial Planning, it is important to know you and your family.

This includes various aspects such as your marital status, dependants, income, assets and liabilities, employment details, financial goals, as well as your dreams and aspirations.

Each aspect may affect your goal differently and must be factored in to determine your needs.

The cost of insurance

Is insurance expensive?

The cost of insurance is different for each and every person since they are based on your unique factors such as age, health, and lifestyle.

Underwriting is the process in which the insurance provider considers all information disclosed by you to determine your cost of cover.

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