Over 70 percent of South Africans do not have life cover in place. This is partly due to a lack of financial education and partly due to the assumption that life cover is too expensive.
It is worth your while to discuss all your options with a qualified financial advisor.
It is important to be aware that most insurance companies contain exclusions in their terms and conditions such as prohibiting payment of a policy, should the person commit suicide within the first two years of the policy becoming active.
Condition-specific exclusions, such as for diabetes or cardiovascular diseases, and occupation-specific exclusions such as for high-risk occupations, could also form part of your life policy – therefore, it is important to know what you are covered for, and what you are not covered for.