We believe that an individual’s greatest asset is their ability to earn an income and all risk benefits should be designed to protect that asset.
All financial planning should start with temporary income protection because temporary disability is the most likely risk event to occur. Our research shows that 7 out 10 FMI policyholders will experience at least 1 disability event during their working career and close to 90% of these will last less than 90 days.
And we know, given the amount of debt and lack of savings most South Africans have, that surviving for even a week with no income can be devastating.
Next, the risks of long-term disability and death need to be addressed through a combination of income and lump sum benefits. To properly protect a future income stream (the ability to earn an income), an income based solution that replaces monthly earnings is best. A lump sum can then be used for once-off expenses such as repaying large debts, business assurance, or making necessary lifestyle changes.
We believe the same logic applies to both death and disability planning.
Services Provided
Work Focus