insurance-tools

🛡️ Insurance Tools You Should Use Before Buying a Policy

Insurance helps protect your finances and your family from unexpected events. Before choosing a policy, it’s important to understand how much cover you actually need.

Here are two essential insurance tools:

🛡️ Life Cover Needs Calculator

A Life Cover Needs Calculator helps you estimate how much money your family would need if you pass away.

📊 It considers:

• Your monthly income
• Outstanding debts
• Living expenses
• Number of dependents
• Future costs (education, etc.)

💡 Quick guide:

Most people need about 10–15 times their annual income as life cover.

🧮 Example:

R15,000/month income → around R1.8M – R2.7M cover

🏥 Why It Matters

• Protects your family financially
• Pays off debts like home loans
• Covers daily living expenses
• Gives peace of mind