Life cover is the transfer of risk from a entity that could not afford the risk to a company that can afford the risk for a monthly premium. What I mean by risk is your obligations to your family , contracts , dependants etc. With South african law and the roll up of an estate it is crucial to be insured for the correct amount. I agree totally with what this video is saying , be aware of what you have, the exclusions and structure of your covers. Graet video big thumbs up.
Very interested in this question, I have been trying to setup a “whole life” insurance policy based on the American understanding of a whole life insurance policy. In essence you borrow against the cash value of your whole life insurance. I will go as far as opening an American LLC to achieve this. However an insurance like this must exist in our country… thanks again for the video and hope to speak more about this.
Good evening. Specifically in regard to whole life insurance option. is a portion of my insurance money accessible to me as the premium holder at a later stage? If so, upon repayment of the money i extracted from the policy, is the repayment thereof tax sheltered like in some countries in the world? I know this to be a real estate investment practice, where a premium holder would extract money from their whole policy, invest and leverage that money into real estate, upon real estate equity growth the premium holder would extract the invested and leveraged amount (originally extracted amount from the whole policy) out of the real estate equity and repay it back into the whole policy without having tax repercussions.
Certain companies allow for funds to be taken out at times of illness or retirement. I would have you look at your specific policy documents to answer your questions
Can you please recommend for me a full life insurance for someone who is 49 years for half a million or one million rand and please crunch the number for me what will be the monthly premium and how will the increase over let's say hypothetically speaking I have said aside 30 thousand rand to pay monthly premium for how many years would that 30 thousand last in paying monthly premium I would appreciate your answer and what company you considered have a good reputation and you have vetted
Life cover is the transfer of risk from a entity that could not afford the risk to a company that can afford the risk for a monthly premium. What I mean by risk is your obligations to your family , contracts , dependants etc. With South african law and the roll up of an estate it is crucial to be insured for the correct amount. I agree totally with what this video is saying , be aware of what you have, the exclusions and structure of your covers. Graet video big thumbs up.
Good day
please recommend life insurance one can add family members on to build wealth
regards
Please book an appointment if you need financial advice. www.solomonwealth.co.za/getstarted
My Daughter is a 21 year old Diabetic, are there viable life insurance options or other alternatives.
Yes, lots of options. Reach out, we can help yolanda @ financiallyfabulousfemales.com
Did you get any reply on your question
I'll be scheduling a call on your site.
Do you know anything about "The Greenlight"- product from Old Mutual? Can you please have a video on this product? Thank you.
I don't know much about it. Best to speak to the company. I don't work with them.
Good day, are you a qualified Life Insurance advisor? I'd like to book an appointment and ask a few questions. Thank you
Sure, here is the link for online appointments www.solomonwealth.co.za/getstarted
Hi, I hear people talking about getting cover where medicals are done?
A nurse will come to you for medicals
Hi. I want to ask regarding borrowing from one's life policy, do policies in SA offer such?
Only the old policies. New high end policies allow for tax free withdrawal upon retirement and illness
So they don't allow this
Hi mam do you do whole life insurance in south Africa
Yes, please book an appointment and we can help www.solomonwealth.co.za
And how much do you charge for your services?
Please book a complimentary appointment www.solomonwealth.co.za/getstarted
Will I be able to access my life insurance funds BEFORE death? I know this is possible in USA, but I'm asking about South Africa
You have to be with the right product in selected product providers. Not everybody offers this.
@@FinanciallyFabulousFemales do you have a video on this?
@@hawickroberts6605 `no, `i need to make one. There is a small clip on my Tiktok channel
Mahikeng, North West.
can you borrow against your policy in South Africa?
I would really like to know aswell
Here also for this question.
No you can't, you can do that with your investments, it's called securities leveraging
@@FinanciallyFabulousFemales 😮😮😮 please do a video on this
Very interested in this question, I have been trying to setup a “whole life” insurance policy based on the American understanding of a whole life insurance policy. In essence you borrow against the cash value of your whole life insurance. I will go as far as opening an American LLC to achieve this. However an insurance like this must exist in our country… thanks again for the video and hope to speak more about this.
Good evening. Specifically in regard to whole life insurance option. is a portion of my insurance money accessible to me as the premium holder at a later stage? If so, upon repayment of the money i extracted from the policy, is the repayment thereof tax sheltered like in some countries in the world? I know this to be a real estate investment practice, where a premium holder would extract money from their whole policy, invest and leverage that money into real estate, upon real estate equity growth the premium holder would extract the invested and leveraged amount (originally extracted amount from the whole policy) out of the real estate equity and repay it back into the whole policy without having tax repercussions.
Certain companies allow for funds to be taken out at times of illness or retirement. I would have you look at your specific policy documents to answer your questions
i'd also like to know, or which policy i could get that i could lend against
Very interesting topic.
Glad you think so!
Please share details of company names
Unfortunately we don't promote companies on this channel.
Can i take a life cover out for someone else...e g.my sister.
Yes, you can. As long as there insurable interest. Remember insurance to protect loss of income in case of death.
Please give us company names
I am in independent advisor so, I don't promote companies in my content
I join Trans Africa life policy on 2017 me and my husband when i phone for day don't answer but they take our money on SASSA cards every month
what is their FSP number, check on them using the FSP number using the FSCA website
I i join Trans Africa life policy on 2017 but now when my phone for them day don't answer
🎉🎉🎉❤
Why are the glitching this very important information?😭😭😭
What glitching?
Can you please recommend for me a full life insurance for someone who is 49 years for half a million or one million rand and please crunch the number for me what will be the monthly premium and how will the increase over let's say hypothetically speaking I have said aside 30 thousand rand to pay monthly premium for how many years would that 30 thousand last in paying monthly premium I would appreciate your answer and what company you considered have a good reputation and you have vetted
Please book an appointment and I can assist
Please help me you call me from pakistan urdu speak
I wish you were mentioning the names of the companies …🫣
You can speak to your financial advisor for more guidance