Life Cover

From a family perspective, life insurance can be used to cover the obvious, like funeral expenses, and provide income for dependents if you die. However it can also cover higher education for your children, or take care of aging parents. If you are an owner or a partner in a business, life insurance can ensure the survival of the business while a successor is found.

The rule of thumb is that you need to be covered for about ten times your annual earnings plus your debt. So for example, if you earn R250,000 per year and have debt totaling R1 million you will need R3.5 million in cover.