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R2 million in potential claims that beneficiaries across the country haven’t submitted.
To save enough, you need discipline, an appropriate plan and a suitable product.
In January 2009 the government introduced beneficiary funds. These funds can receive some of the death benefits paid out by a company’s retirement fund when an employee passes away in service. The death benefit money is invested and kept safe for the deceased member’s dependants and administered by companies such as Fairheads Benefit Services.
The sheer number of insurance products on the market can be confusing and leave you wondering what exactly some of the products are about and whether you actually need them. One of these lesser-known insurance products is that of credit life. Metropolitan’s Cebisa Mfenyana talks through the ins and outs of credit life – what it is, if and when you need it, and what you should be aware of.
If you had to hazard a guess, when do you reckon the COFI Bill will be signed into law?