Buying a house isn’t something you do every day, so when the time comes, it helps to have some inside information.
This is a legally-binding document that contains a lot of jargon. Make sure you understand what you’re signing up for. Unfortunately tenants, property agents and sellers aren’t always to be taken at their word - rather make sure you understand all the terms in the OTP, and ask as many questions as you need to before you sign.
It’s useful to know that if you like a house after your first viewing, you may enlist the help of ...read more »
Although this list of questions may seem daunting at first, if you give yourself enough time to work through these questions, you should be sorted by the time your baby is born.
1) Admin and finance-related (pre-baby)
Ask someone whose got kids for advice, and most likely you’ll hear: “Your life will never be the same again.” But that statement is almost always quickly followed by: “But it’s so worth it!” If you’re having your first child and up until now, haven’t had to provide for anyone but yourself, there will be some big changes - especially in the way you spend your money. But with some careful planning, you won't be caught off guard. We compiled a list of things to help you get started.
It may come as a surprise, but a life insurance claim can often take up to a few months to pay out.
So what about the funeral costs? Well, you could take a funeral plan, or if offered by the insurer you could get an accelerated funeral benefit as an add-on to your life policy.
The accelerated funeral benefit will pay out a portion of the full benefit prior to any investigation and can be as quick as 24 hours from receiving all the required documents.
The full benefit will pay out less the funeral benefit once the claim has been assessed.read more »
When buying a life insurance policy it is very important to answer all questions honestly and accurately.
Why? An underwritten policy is priced according to your individual risk - hence all the questions. Not answering honestly and accurately could lead to something insurers call 'non-disclosure', and that could mean a policy doesn't pay out when it comes to claim stage.
So whilst it may seem like a good idea to save a few rand a month by not disclosing the fact that you smoke an occasional cigarette, you may in fact be wasting money and defeating the point of taking out insurance.read more »
If I were to die how would my dependants survive without my income?
What would happen to bond or rent payments, vehicle installments or school fees?
If you don’t easily know the answer to any of these questions then you most probably need life insurance.
Maybe you don’t have dependents but still have bills that would need paying if you became injured or ill and couldn’t work, well in that case you most likely need salary protection.
Try our easy to use life insurance calculator below to get an idea of what cover you may need.read more »
A funeral policy is designed to pay out a quick amount of cash to cover the costs associated with a funeral. Life cover offers much higher payouts but doesn’t necessarily have the promise to pay-out as quickly. So how do you get the best of both worlds?
With a Different Life policy, you can add the Accelerated Funeral benefit. In the event of your death, the funeral cover amount will be paid to your nominated beneficiary within 48 hours of all the required information for a valid claim, being received.
The remaining portion of the Life Cover amount will be paid after an investigation has been ...read more »
Many insurance policies have an increasing premium even though the cover amount doesn't change. Life insurance also gets more expensive as you get older; why would this be the case?
Each year we get older and unfortunately for all of us that means we become more likely to die, even if only a little bit. Life Insurance premiums are based on this risk and the likelihood of us dying, this what those people called actuaries work out.
So the reason you pay more each year is because you just got a little more risky.read more »
A waiting period is an amount of time where you pay a premium but don't yet have full cover.
This is usually done to prevent people from buying a life insurance product when they suspect they might already be ill.
Another way to deal with this risk is for the insurer to assess it through an underwriting process. In the case of a policy sold by Different Life this is done through a series of questions that can be answered online or over the phone.
That allows for full cover from the moment your policy starts.
10 minutes a few questions and no waiting period.read more »