Life Cover... How much should I have?

There’s no point in taking out life cover if the amount does not cover the following:

• Enough money to assist with minor children education, housing, general day to day expenses ie food, clothing etc.

• Pay off the bond on your property and any other debt that you may have ie car, credit cards, clothing accounts etc

The amount of cover that each person requires is calculated on an individual basis and need to take the following factors into consideration:


• Age
• Marital status
• Do you have kids, how many and their ages
• Outstanding debt
• Current income as your income provided for your family’s needs
• Funeral costs
• Money you may owe SARS
• Estate Duty
• Capital Gains Tax
• Inflation – R1 million may be enough for now but will it be enough in 10 years?


All the above obviously needs to take into consideration affordability from your side, ie the monthly premiums. Your premiums will depend on your age, whether you’re a smoker or not, current health, genetic diseases looking at your family history.


You may contact me at any time to discuss your personal needs or if you want me to review your existing Financial Plan.