Life long policies you cannot live without
When it comes to leaving behind a legacy, and ensuring that your loved ones are financially covered in the event that you are no longer around, PBA recommends life cover and investment policies to put your mind at ease.
When it comes to adding a measure of security for your loved ones, life insurance provides an avenue for them to pay off final expenses, gives them an option to eliminate outstanding debt, and the option to continue paying off day to day expenses you may have covered yourself.
The purpose of life insurance is to protect your family in the event of your death and free them from financial worry after the trauma of your death. At the end of the day, whether or not a Life Insurance policy is the right move depends on the sort of policy you choose.
Do you really need life cover?
For someone who is a breadwinner, married, or has small children, or really any dependents at all, life cover is as essential as having a regular income. As most people’s net worth is not large enough to be self-insurable, the average person needs life cover to protect the financial needs of their loved ones.
Life cover will substitute lost income in the event of the death of the breadwinner as well as a cost-effective method of ensuring that there are means to cover the cost of estate duty.
Ensuring your legacy - Wealth Creation and Investments
While our life insurance policies offer a safeguard for your loved ones after your death, long term investments and wealth creation policies that PBA provides are suited to helping you build your wealth and pave the way to enjoying it in your later years.
Medium to long term investments
What would you like to achieve in the next couple of years? Perhaps you are saving for an overseas holiday in five years or you want to be sure you can pay for your child’s university education when they finish school ten years from now. Do you have a larger goal, perhaps one that is of a corporate nature?
There are a number of investments that may suit these needs and many others. Can you afford to invest something on a monthly basis or do you have a lump sum that you would like to grow? PBA can assist you to make that money work hard for you.
Short Term Investments
We offer Unit Trusts in a long and Short term capacity. A Unit Trust has a number of very nice tax breaks. A unit trust is a form of collective investment constituted under a trust deed. One of many of the tax benefits of having a unit trust is that investors have an R30,000 CGT exemption in each tax year.
Perhaps you are looking for a slightly different investment? How about an endowment?
What is an 'Endowment'?
An endowment is an investment with a minimum term of 5 years. It can be used for the purpose of general wealth creation or saving for your child’s education. There are tax benefits to having an endowment and it is also a good option if you are looking for offshore investment.
Whether you’re looking to create a safety net for your loved ones in the event of your untimely passing, or whether you're looking to expand upon your wealth creation strategies, contact us at PBA for professional advice you can rely on.
Phone: 011 803 9686