Financial Planning for Women
Psidean Financial Services
Financial, Financial Planning, Investment Planning
Women have always had unique requirements when it comes to risk benefits.
Did you know that in South Africa:
• women make up 41% of the working population
• in more than 42% of families, women are the chief breadwinners
• 44% of women are single
• as 43% of these are single mothers, it is even more important for these women to evaluate
their life cover
• almost as many women as men between the ages of 25 and 34 are starting businesses.
In terms of life insurance:
• for a child, losing a working mom these days is just as financially devastating as losing a working dad
• the average amount of life insurance taken out by women is about 30% lower than that of men
• women have been under-insuring themselves for the past 20 years.
Risk planning for today’s woman
Modern society has seen an increase in the number of female-specific conditions. In addition, the ever
increasing numbers of women in the workplace have generated a far greater financial need for life, dread
disease and disability cover.
A woman’s unique risk requirements
Consider the following:
• 1 in 4 women suffer a stroke or heart attack before the age of 60
• 1 in 7 women suffer from cancer, 50% of these patients are still alive five years later
• approximately 30% of economically active South Africans are HIV-positive.
At Liberty we paid...
Between January and December 2009, Liberty Life paid a total of R235.4 million for Critical Illness (Dread
• 41% of these were due to cancer
• of which 8.81% was accounted to Breast Cancer
• 68% of these claimants were between 41 - 60 years of age, but 16% were between 31 - 40
• of which 33% were accounted to females.
Liberty Life offers solutions for women
The Lifestyle Protector policy offers comprehensive cover for women. It is made up of the four pillars
of protection: Life Protection, Loss of Income Protection, Lifestyle Protection and Policy
Included in the Lifestyle Protection pillar is the Female Living Lifestyle Benefit. This benefit is
designed to cover critical illnesses specific to women, particularly those conditions related to pregnancy
and congenital birth defects in your child. The Child Living Lifestyle Benefit will enable parents to afford
the best possible care should their child suffer from serious health conditions.
Many mothers are concerned that their children’s education will be compromised should they die,
become severely ill or disabled. Lifestyle Protector includes the EduCator benefit allowing her peace of
mind knowing that her children’s education is secure, should something happen to her.
Providing for today’s women Today’s women require more from insurance than their predecessors. Lifestyle Protector affords you the opportunity to get the most comprehensive solution available.
The Living Lifestyle Benefit
Provides a lump sum that is payable on diagnosis of a dread disease that is covered under one of
the 31 Benefit Categories, each of which is treated independently.
What are the Benefit Categories?
Cancer and Leukaemia
Cardiac and Cardiovascular System
Motor Neuron Disease
Alzheimer’s Disease and Progressive Dementia
Other Central Nervous System Disorders
Chronic Liver Disorders
Aplastic Anaemia and Other Blood Disorders
Other Autoimmune Disorders
Ear, Nose and Throat Disorders
Traumatic Injuries including Traumatic Brain Injuries,
Head and Neck Injuries, Spinal Injuries and Comas
Loss of and Loss of Use of Limbs
Living Lifestyle Catch-All
How does it work?
• A claim under one category will reduce the amount that can be claimed in future under that
• The amount that can be claimed remains unchanged under all the other benefit categories.
• On the Living Lifestyle Plus, if a claim is admitted for a particular stage or severity, further claims in respect of that stage or severity will be considered under the same benefit category, provided the cause of the claim is totally
unrelated to the existing condition claimed for.
The Living Lifestyle ‘Catch-All’ Benefit
Only the more common diseases are specifically named and categorised. The ‘Catch-All’ Benefit was specially designed to allow the policyholder greater scope to claim for a serious condition that has not been specifically included in other benefit categories.
Lifestyle Protector, because there’s no better time like the present to plan for the future...
Any legal, technical or product information contained in this document is subject to change from time to time and is not to be construed as advice from Liberty Life.
Any recommendations made must take into account your specific needs and personal circumstances. If there are any discrepancies between this document and the contractual terms or, where applicable, any fund rules, the latter will prevail.
Liberty Group Limited – an Authorised Financial Services Provider in terms of FAIS Act (license no.2409)
Liberty Active Limited – an Authorised Financial Services Provider in terms of FAIS Act (license no.10332)
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