Ensure you have life cover included in your holiday checklist

Before you hit the road for a well-deserved holiday, consider the imperative of ensuring that your family is financially protected should the unthinkable happen. 

South Africa’s road deaths, which average 14 000 per annum, have been described as a national crisis by the Automobile Association of South Africa (AA). 

With holidays presenting a particularly high risk as we rush to get to our destinations, we note the need for adequate death and disability cover to protect our loved ones and suggests the following checklist:

  1. Get adequate insurance cover such as life cover: Should you pass away; life cover can help your loved ones pay off any debts you might have and can enable them to cover their everyday living expenses. Should you become disabled, disability cover can compensate for the loss of your income. 
  1. Check the country you’re going to is covered: This is essential if you’re travelling overseas. Certain life cover policies might not provide cover in all countries and areas regarded as a high risk could, for example, be excluded. If you’re applying for cover before travelling, you might be asked about your travel destination. In this case, be honest about your travel plans, so that you don’t risk a reduced or declined claim if something were to happen to you while you’re away. Being honest enables the insurer to adequately assess your application and provide you with appropriate terms.
  1. Invest in funeral cover: Funerals can be expensive. Having cover in place will assist your loved ones to honour your memory without financial strain.  This cover can also be taken on the lives of your family members, which in turn enables you to give them a dignified funeral.
  1. Update your will: Another far-from-fun item to tick, but an updated will is imperative to ensure your assets are distributed as you would wish in the unfortunate event of your death. 

Before you head out the door, mentally tick off whether you have covered yourself and your children and checked whether the country you are visiting is included in your policy, along with the activities you are planning once you’re there. Then you are good to go.

Sanlam is a Licensed Financial Services Provider.

Ensure you have life cover included in your holiday checklist
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