You might think that you have sufficient life cover in place today because you have a company group scheme and the odd life assurance policy in your personal capacity, but how do you actually know whether all debt and costs (such as executors fees, estate duty tax, funeral, masters fees to the court etc) would be covered in full by the total of your life cover amounts.
This brings me to an amount to create an income to pay or assist financially with the needs of your remaining spouse and children thereafter.
Remember that you would no longer be around to bring in your share of monthly income.
The best way to ensure that you and your family is well catered for after the death of husband or wife is to share information with your financial planner and ask to assist you with a financial needs analysis plan or calculation to determine how much surplus or shortfall the total life cover amounts to after taking into consideration current debt, current provision in place (at the same time we can revise your costs to maybe create savings) , the income needs and whishes and term to mention a few.
The cost of life assurance does in fact vary and to get the best value for money for the specific need whether for family provision, bond assurance, Business buy and sell assurance and many more options, requires a support team and again the relationship you have with your financial planner to assist you in these matters.
If we can improve your current portfolio and remove cost that is duplicating or really over insuring yourself, then we can pay off debt, invest or even boost other shortfalls in your risk assurance needs environment.
Make contact today with Anton du Preez to ensure you only pay for what you require, cover weak areas in your portfolio and boost the pay off of your debt or maximize your investments
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