Disability insurance pays out a tax-free lump sum if the insured person is ever disabled by an accident or illness. The amount that is paid out is clearly defined in the policy documents and depends on how much cover is bought upfront as well as the severity of the claim.
A disability cover pay-out can be used to customise a house or car to give the disabled person freedom of movement. It can also be used to replace all or part of your monthly salary and to pay off some or even all of your debt.
Disability insurance should be bought together with dread disease cover, which provides financial protection against serious illnesses like cancer or strokes.
Who needs disability insurance?We are all vulnerable to disability, whether it is as a result of an accident or illness. If you want to ensure that you have the funds you need to triumph over disability and live a full life, then you need disability insurance.
How much do I need?Your occupation, age, health and income will all determine how much cover you need. Use our financial needs analysis to calculate your cover requirements.
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