Good day Readers,
Just a note… i am going to try and keep this blog updated with industry information that interests me from the viewpoint of a client.
Therefore, the website (when i finally get it back in shape with and updated) will contain specifics regards the different areas of financial planning and this blog will contain updates.
I have received an interesting update from Liberty today.
Relevant to you if you have ever been retrenched and appreciate the stress and cash flow problems that this can present. Or, if you would simply like to add an extra level of protection.
I.e. so that if you are retrenched your risk premiums are paid for 12 months.
Obviously, you would need to contact your broker to add this benefit, i can only look at existing policies where clients are prepared to change broker for changes to their policies.
If you want to contact me: email… [email protected]
The Retrenchment benefit with Liberty Life:
Please note that Income protection is not the only prerequisite for the retrenchment benefit anymore, you can now add it to pure life cover and existing policies.
Think of the possibilities of a benefit that is not underwritten.
The retrenchment cover may not exceed 2.5% of the life cover sum assured.
The maximum benefit amount is R30 000.
The retrenchment sum assured is still limited to 75% of the clients salary.