SERVICES | ML Gouws | Certified Financial Planner | Natal

By: Life Insurance  11-11-2011
Keywords: Life Insurance, Disability

We offer a comprehensive service in terms of identifying life cover and investment needs for Businesses and Individuals. Written reports which identify needs, proffer solutions and explain income tax, estate duty, and Capital Gains Tax implications, are submitted with each Financial Needs Analysis.

We cater for:

Contingent Liability Plans.

Financial Institutions invariably require the personal guarantees of principals (members/shareholders/trustees/partners) when finance is approved. This in effect, places the personal assets of the guarantor at risk for the due performance of the business. We offer plans to protect personal estates in the event of death or disability.

Buy-and- Sell agreements.

The owners, or potential buyers, conclude contracts, in life, to buy each other’s share in the event of death or disability. This arrangement precludes unwanted or inexperienced persons from becoming involved in the business. The transaction is financed by life insurance and the contract stipulates the rules for transfer of the interest. It is imperative that the policies are structured properly (there could be estate duty implications) The agreement should be current and not in contravention of agreements pertaining to the business or the principals.

Key Person Insurance.

Most businesses have employees who play a pivotal part in the running of the undertaking. A person whose death or disability may have disastrous effects on profitability and operations. We offer plans to protect the business with cash pay outs. Whilst we understand that money cannot replace the individual, it does facilitate getting over the financial crisis and will finance the process of replacing the key person.

Loan Accounts Cover.

Businesses can have loans to or loans from principals. There can be complications at the death/disability of the principal. His estate will claim outstanding debts or will have to pay outstanding loans. There are plans to protect the business, the principal and also to systematically redeem the loan account.

Estate Planning.

An estate cannot be finalized before ALL outstanding debts have been paid. If the executor does not have enough money to pay debts and costs, he is obliged to sell assets. These sales normally take the form of insolvent estate auctions. It is also crucial to ensure that, after costs have been paid, the family is maintained with an inflation-linked income, that children can study and special wishes are financed. We do the calculations, make recommendations, take tax and estate duty implications into account and make sure that our dealings with you are FAIS compliant.

Retirement Planning.

Only one person in five in South Africa can actually afford to retire comfortably. The rest will go off work for a while and then have to return to some sort of employment or become dependent on friends and family. We offer structured plans to alleviate the problem. Projections are made, and we believe that ANY money saved, will make things easier for you in the long-run. Your risk-profile will be determined and any investment you make will be in line with the way you think and feel.

Investments .

An in-depth analysis of your needs, risk-profile and tax situation will be conducted. Recommendations will be based on what YOU require and how YOU feel.

A range of Companies and Products are at our disposal and they include:

  • Tax-free growth
  • Income (tax-friendly)
  • Income(tax-free)
  • Guarantees
  • Unit Trusts
  • Preservation funds
  • Retirement Annuities
  • Pension Funds
  • to name a few

Education Plans.

Provision for studies for the children. We offer a benefit where, if the parent dies or is disabled, the Insurers will contribute the premium. Your child’s saving program is thus not interrupted by your death or disability.

Funeral Plans.

We offer plans that ensure that funds are available to finance the costs of burial for the whole family. The parents, children and extended family can be covered. The plans offer peace of mind knowing that a decent and dignified funeral will be paid for by the plan.

Employee Benefits.

We make payments at the death or disability of a member of your work force. A funeral benefit is included, so his/her family are also covered. In the process a portion of his premium is saved for old age

Income Protection.

Accident or illness can prevent you from working with the resultant loss of income. We offer plans where an income will be paid for as long as you are unable to work. This relieves pressure from the cash-flow of the business. Income is derived from another source.

Keywords: Disability, Life Insurance

Other products and services from Life Insurance


PRODUCTS | ML Gouws | Certified Financial Planner | Natal

This cover provides payment of the sum insured if the insured life becomes totally incapacitated through injury or illness and satisfies the policy’s definition of ‘disability’. It provides a lump-sum payment to the policy owner or nominated beneficiaries if the life insured dies while the policy is in forced. A ‘waiver of premium” benefit assures that the payments are continued after the death or disability of the proposer.