Have you considered life cover for your parents, parents in law or a special family member?
At PBA Financial Services we have recently had an influx of young clients who are worried about how their parents will survive when they retire and would like to make sure that they can cover their monthly expenses.
Did you know that you can purchase life and or disability cover for your parents?
Parents or parents in law may have not been in a position to save adequately for their retirement due to many reasons:
● They may be paying for schooling or studies for a younger sibling.
● Huge medical bills based on a dread disease prior to death which the medial aid may not cover in full.
● They may not have had a medical aid.
This may then lead them to become a reliant on their adult children later on in life.
It is more expensive and risky to take out this type of cover the older the parents get.
Why not contact PBA and find out what cover you can get for your ageing parents, Don’t WAIT or it will be too late.
An alternative to consider is an investment policy taken out by the adult children, especially if the parents are medically unfit for a risk policy. We have a specialist who will be able to guide and assist you in making the correct decision to meet this need. There are many options including a Tax Free unit trust, contact us for more information.
If you are concerned about your parents, parents in law, give us a call for an obligation free quotation.
Click here to read our previous article: Gap Cover Policy
Phone: 011 803 9686