Leading income protection provider makes it easier to put income first
02 September 2020
Ask a South African consumer what life insurance is, and they will most likely respond that it is a policy that pays out a large sum of money upon an insured’s death. This narrow view of life risk benefits is an unfortunate legacy of an industry that was traditionally geared towards selling lump sum life and disability covers. Financial advisers are also guilty of a ‘lump sum’ focus and will frequently offer their clients a bundle of death, disability, and severe illness benefits before considering the need to protect income. Nowadays more and more advisers and product providers are realising that a monthly income stream is the most important asset a potential insured has. And this asset is larger the more paycheques remain until an individual’s retirement.
