Life Insurance

[Former member 61586]

I am 31 years old. Need life cover so that my wife can carry on with life financially if I pass away before she does within the next 34 years.

Most places offer a maximum of R10 million cover which is not really enough (according to my rough calculations), but will suffice.

My questions are as follows:

1. Should I be looking at cover that increases the amount insured and of course the premium by at least inflation? Who offers this?

2. Who are the sharks that I should be avoiding? The ones that FIND a reason to deny a claim when it comes time to claim.

3. What should I look for when deciding on who to insure with?

Thanks in advance for the input.

 

[rrh]

Get yourself a broker

 

[Drifter]

Get yourself a broker

Nops, not a broker. You need a financial advisor that can do a complete Financial needs analysis. Please see PM.

 

[werfie]

Nops, not a broker. You need a financial advisor that can do a complete Financial needs analysis. Please see PM.

This

 

[Y'all Qaeda]

I am 31 years old. Need life cover so that my wife can carry on with life financially if I pass away before she does within the next 34 years.

Most places offer a maximum of R10 million cover which is not really enough (according to my rough calculations), but will suffice.

My questions are as follows:

1. Should I be looking at cover that increases the amount insured and of course the premium by at least inflation? Who offers this?

2. Who are the sharks that I should be avoiding? The ones that FIND a reason to deny a claim when it comes time to claim.

3. What should I look for when deciding on who to insure with?

Thanks in advance for the input.

I'd be weary of going for something like that. Also, keep in mind, you're funding your wife for the rest of her life, your giving her enough enough to survive while she is grieving and that she doesn't fall into financial ruin.

What you're doing is giving her motive.....

 

[Former member 61586]

I'd be weary of going for something like that. Also, keep in mind, you're funding your wife for the rest of her life, your giving her enough enough to survive while she is grieving and that she doesn't fall into financial ruin.

What you're doing is giving her motive.....

Not sure if serious?

This is not some strange hooker off the street. This is the woman I am married too. If I could comfortably afford a R100 million policy, I would take it in a heart beat to give her a life of luxury should I kick the bucket. I know many cannot say this with 100% certainty, but that woman would take me over R100 million any day of the week. I am lucky that way

P.S. R10 million rand earning 5% interest per annum is only R25k per month in interest after tax. So not that much.

 

[bokdrol]

We're not all black widow killers, you know.....:erm:

 

[D3nz]

I'd be weary of going for something like that. Also, keep in mind, you're funding your wife for the rest of her life, your giving her enough enough to survive while she is grieving and that she doesn't fall into financial ruin.

What you're doing is giving her motive.....

I lol'd