South African income-earners are underinsured for death and disability by R28.9 trillion and the reason may be linked to an insufficient understanding of what cover we need; and how much cover we need at different stages of our lives.
Citing statistics from the South African Insurance Gap Report, Sanlam Product Actuary, Petrie Marx, says there is no one-size-fits-all approach to death and disability cover as every individual's circumstances are unique. He calls out the common call to action: A financial analysis with the help of a qualified financial intermediary to determine what cover best suits your needs and requirements.