Alexander Forbes Life Ltd is a well-established company which has become a major contributor within the insurance markets of South Africa and United Kingdom. The company provides a wide range of life insurance benefits designed to mitigate the financial impact of your unexpected death or disability. Professional Wealth from Alexander Forbes Life offers a wide range of benefits which include the following options:
Life and Disability Insurance
This type of cover ensures the financial security of your dependants in the event of your death or disability. Clients have access to the company’s highly trained and qualified financial planners to assist in choosing the right type of death cover in accordance with your individual needs and personal circumstances.
The Life Benefit is designed to mitigate the adverse effects of your death on the financial well-being of your family. This type of cover provides a lump sum benefit which helps to ensure that your dependants will be able to continue with their schooling and continue living your long-term goals and future aspirations.
Professional Wealth Business Overheads Benefit
The occupational disability benefit is a monthly benefit which is designed to cater for your business operating expenditure in the event of your disability. Unless this benefit is issued as a company-owned policy, it can only be held in conjunction with the Comprehensive Income Disability Benefit.
Capital Disability Benefit
In the event that you become totally and permanently disabled and you are no longer financially productive, the life assured receives a Capital Disability Benefit as a once-off lump sum payout.
Comprehensive Income Disability Benefit (Income Protection)
In the event that you become disabled due to injury, surgery, illness or an accident, which renders you unable to work, the Professional Wealth Comprehensive Income Disability Benefit pays a monthly occupational benefit of up to 100% of your current taxable income. This type of cover is particularly crucial when you have dependants because it helps you to manage that income shortfall.
Disability and Dread Disease Cover
This type of cover deals with the uncertainty of what tomorrow may bring by replacing your income and covering the expected medical costs arising from your disability or dread disease. Unlike the death cover, the Disability and Dread Disease cover is only based on the life assure and not the dependants.
Dread Disease Benefit
The Dread Disease Benefit is designed to provide cover for a terminal illness diagnosis such as such as stroke, heart attack or cancer. In such a case, the life assured receives a lump sum benefit of up to 100% of the death benefit provided the terminal illness is one in which the life expectancy is less than 12 months. This lump sum benefit helps to cover the costs associated with the disease and also facilitates any lifestyle changes which may be required.
Alexander Forbes Life Insurance policy comes with a Guaranteed Insurability option which allows you to increase your benefits in accordance with your changing circumstances. This means that policyholders are given the opportunity to purchase additional cover during the first ten years of inception of the policy in order to incorporate significant life events such as mortgage bond application, marriage or the birth of a child. The financial planners at Alexander Forbes Life Ltd are always available to assist you in determining the amount of cover and level of cover required for your changing needs.
Alexander Forbes Contact details:
Tel: 0860 100 444