The importance of risk cover in the financial planning process

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The importance of risk cover in the financial planning process
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[ADVISOR VIEW] It’s critical to have some cover that provides financial security and peace of mind to individuals and their families in the event of an unexpected crisis: Wouter de Witt - GravitasTax. Moneyweb RiskCover

It can be difficult for people to budget for risk cover, especially when inflation is high, debt is rampant, and job insecurity is a factor in our weak economy. However, it’s critical to have some kind of cover as it can provide financial security and peace of mind to individuals and their families in the event of an unexpected crisis.

Similarly, income protection can provide financial support if a policyholder is unable to work due to an injury or illness. It can serve to maintain a family’s standard of living and provide financial security during a difficult time. Many life insurance policies offer savings and investment options, allowing policyholders to accumulate wealth over time and secure their financial futures. The disability portion of their policy can help to ensure that they can meet their financial obligations, even if they’re no longer able to work.

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