Holiday ready? Tips to keep your life cover in place these holidays
If you've had a tough year, you're probably counting down the days to the holidays, like most South Africans. While this time of year brings joy and festivities, it can also usher in some unexpected risks. To put your mind at ease during your downtime, it is important to have relevant, comprehensive life cover in place.
Ready to gear down into holiday mode? These four tips will help ensure that you're properly covered for whatever life brings your way:
1. Pay your insurance premiums on time
With the long stretch to January's salary, be sure to set enough money aside for your insurance premiums. A delay in such payments can cause a lapse in your insurance policy, leaving you without the cover you may need.
2. Update your personal details
A lot of things can change in a year, your personal details are one of them. Be sure to keep your financial adviser up to date on any important changes in your life, like your contact details, place of work and banking details.
3. Make sure that the cover you have is still the cover you need
It's a good idea to continually review your current insurance policies so that your cover is always a good fit for your lifestyle. With the busy year tapering off, it's the perfect time to meet with your financial adviser to give your cover the annual audit it needs.
Life insurance from Discovery Life offers you more when you link other Discovery products and engage with Vitality (our science based, behaviour change rewards programme, geared to improve your health). So the more Discovery products you link to your plan and the more you engage with Vitality, the better your rewards will be.
Make sure you get the most out of your plan. Use this handy check list to help you keep your life insurance up to date.
4. Have a signed and updated will in place
The most important holiday preparation is to ensure that you have an updated, valid and signed will. If you don't already have one, Discovery Wills and Trust Services offers free will drafting. They also provide a wide range of holistic estate planning and professional services that protects your family's financial future when you are no longer here, ensuring that your legacy is in safe hands.
Whether you're staying at home or going away for the holidays, applying these tips will help you holiday in peace. Knowing that you're comprehensively covered for whatever life could bring your way will give you the opportunity to kick back, relax and make the most of your well deserved break.
Discovery Life Limited. Registration number 1966/003901/06, is a licensed life insurer, and an authorised financial services and registered credit provider, NCR registration number NCRCP3555. Product rules, terms and conditions apply.
For more about how to best cover your lifestyle over these holidays and beyond, speak to your financial adviser.
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