Page 29 - TODAY Magazine Issue 1 2022 - Old Mutual

WHY YOU NEED RISK &
DISABILITY COVER
Risk and disability cover, like all insurance, is there to cushion you financially when things go wrong. In this instance, you will get financial help if you are injured or too ill to continue working.
If you’re healthy, risk and disability cover may feel like a grudge purchase. But...
• When an accident happens, you will have extra medical
expenses as well as your usual monthly expenses to cover.
• To remain independent, you will have to protect your income so
you won’t have to rely on others if you are unable to work.
How much cover do
I need?
The rule of thumb is
to look at what you currently earn. Then ask yourself how much you expect to earn in 10, 15 or 20 years. That should give you an idea of how much cover you will need.
Does disability
cover include dread disease cover?
Not always. It would depend on the specific insurance policy.
This information serves as a guideline only. Consult a financial adviser for advice tailored to your specific needs.
Important questions to ask about your cover:
1. What are the benefits?
2. Are there any
exclusions?
3. What’s the difference
between permanent
and temporary cover?
4. What exactly am
I covered for?
5. How long does the
fund take to pay out after receiving a claim?
6. Any other small print I should be aware of?
IF YOU’D LIKE TO SPEAK TO A FINANCIAL ADVISER
CALL 0860 60 60 60 EMAIL todayomc@oldmutual.com VISIT Old Mutual Personal Finance online
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