Make sure you’re covered over the Easter holidays

The Easter weekend is fast approaching and thousands of South Africans are looking forward to a few days off. But the mad rush to get away from it all carries risks. According to the Road Traffic Management Corporation, more than 150 road deaths were repo

“We know this period is infamous for the spate of road accidents reported,” says Ferdi Booysen, Risk Product Manager for Old Mutual South Africa. “And we know that families who are faced with the trauma of a serious accident are deeply affected emotionally and financially. Apart from driving with extra caution, do make sure your family is financially protected in case you are involved in an accident. Having risk cover in place will help get your loved o­nes through it.”

“Old Mutual’s 2011 claim stats show that 23% of death claims are as a result of accidents, while 83% of accidental deaths are from car accidents,” says Booysen. “It’s important to be prepared.”

In the event of a disabling accident that leaves you unable to perform your duties at work, disability cover will take care of the costs of making adjustments to your lifestyle. These may include the costs of physiotherapy, or replacing your income if you need to recover for an extended period of time.

While disability cover will provide an income when you are no longer able to earn a salary, life cover will take care of your loved o­nes when you are no longer there to provide for them.

If you are a business owner or a partner in a business, death and disability cover can help your business partners to continue running the business without added capital strain and pay out your share in the business to your family. The proceeds from a death benefit can be used by the business partners to buy out your share in the business, if a buy-and-sell contract is in place to facilitate this transaction.

“Your financial adviser will be able to draw up a holistic financial plan to suit your individual needs. Apart from making provision for retirement, savings goals and health care needs, life and disability cover will help protect you and your family from the financial impact of injuries and health setbacks caused by accidents,” concludes Booysen.