Life & Risk Options - Globalwise Financial Services

Life cover provides your family, nominated beneficiaries or a cessionary with a cash lump sum in the event of your death. This cash lump sum can be used to settle debt, outstanding mortgage, cover estate duty and executors’ fee, etc. or can be reinvested to provide an income for your partner, loved ones and / or other dependants. Should you no longer be around, your life cover needs to be adequate, so that all your dependents are financially cared for.

The general rule of thumb is that your death cover should equal seven to ten times your annual income.

Should a business partner(s), key employee(s), or a director(s) die, business assurance ensures that the business or business partner(s) will able to keep the business running and meet all contractual liabilities.

This benefit will pay out a lump sum if you sustain a bodily injury or illness that occurs to such an extent that you are permanently disabled and cannot perform your daily activities or your own occupation. This benefit can also pay out a percentage of the benefit amount as a lump sum if you meet the requirements of one of the defined functional or physical impairment claim events.

The general rule of thumb is that the income generated from the investment of this lump sum, must be enough to cover 75% of your income.

Should a business partner(s), key employee(s), or a director(s) become disabled, business assurance ensures that the business or business partner(s) will able to keep the business running and meet all contractual liabilities.

This benefit is an ideal solution if you need the surety of knowing that your income will be replaced if you should be unable to perform your normal occupational duties and daily activities.

TEMPORARY INCOME PROTECTION
This dynamic product gives you a choice of between 3, 6, 12 and 24 months payouts, after a chosen waiting period of between 7 days, 30 days or 3 months. It protects up to 100% of your nett income, if you are absent from work due to an injury or illness. For example, back operation, hysterectomy, car accident, etc.

INCOME PROTECTION
This is an ideal solution if you need the surety of knowing that you will be paid an income if you should be unable to perform the duties of your occupation or suffer one of the defined injury or illness claim events. This benefit pays until your chosen retirement age, after a chosen waiting period of between 7 days, 30 days or 3, 6, 12, 24 months. The monthly claim amount may not exceed 75% of your pre-disability monthly income.

BUSINESS OVERHEAD EXPENSE PROTECTION
This is an ideal solution for you to cover the running expenses of your business, as a result of an injury or illness. After a chosen waiting period of between 7 days, 30 days or 3 months, this benefit will payout according to your chosen waiting period of between 3, 6, 12 and 24 months. The claim amount payable in terms of this benefit will be tax-free.