Risk planning can be Devised into 3 main categories
Money that pays out if you are temporary or permanently unable to work due to a disability or sickness.
1. Lump sum pays out on permanent disability, to help you adjust to a new lifestyle or cover debt. Last thing you want to worry about is to cover the house bond if you cannot work.
2. Income pays an income for as long as you are unable to work your job due to disability or sickness. It can be set to pay out even if you are only off work for a week of month. It is an essential to have, even if it only covers the basic costs of living.
Probably the most claimed benefit in the market. It pays out a lump sum on diagnosis of a critical illness. There is a comprehensive list of illnesses. You can also claim more than once if you have the correct benefit in place.
The money is mainly used to fund a change in lifestyle or pay for medical cost f you do not have a medical aid and Gap Cover.