Life Cover

[Goliath]

PPS all the way!

 

[Tikkop]

The majority of life cover I've come across will pay out while you're alive if you're diagnosed as terminal. If you take that route you're obviously not getting it again when you die.

Would be good then to take life cover at 2 different institutions and take one when you fall terminally ill and let the other one pay out to your chosen beneficiaries upon your death, no?

 

[xrapidx]

Would be good then to take life cover at 2 different institutions and take one when you fall terminally ill and let the other one pay out to your chosen beneficiaries upon your death, no?

Again - it all depends on your needs. There are also limitations to the various types of cover... so its best to understand what you need, and speak to a proper financial advisor.

Imagine you have severe illness cover of R1mil, and life insurance of R3mil.

You get terminal cancer - and R1mil - now you find out there's experimental treatment overseas - and it'll cost R2mil - who is going to say, "Oh well - should have planned better - not going to use my life cover because that's for someone else, I'm just gonna die".