Robsons Group
Together we can do more!
Email: Info@robsons.co.za
Tel : +27 (31) 701 4877
Fax: +27 (86) 545 7126
Risk Planning
The Statistics are startling……
- 25% of people who suffer heart attacks had no symptoms previously?
- In South Africa, there is one Heart attack every 8 minutes?
- 1 in 3 men and 1 in 4 women will have a heart attach condition before the age of 60?
- You stand a 1 in 8 chance of suffering a disability before age 65?
- One year of disability can use up ten years’ worth of savings?
- More homes are lost through disability than death?
- 1 in 6 South African men and 1 in 7 South African women will suffer from cancer?
- Many cancer patients are alive five years after diagnosis; with many dying of old age?
- Every 17 minutes, someone buys life insurance, who will not live to pay the second premium?
Good risk management is managing those risks that you are capable of managing and insuring against those you cannot. In the financial planning context the risks you cannot manage are your death, disability and severe illness before retirement. These events will interrupt the income required by yourself and/or your dependants, and will also interrupt the accumulation of capital for retirement. Clearly you must insure against these.
Risk cover cannot reverse tragedy, but it does make the future easier to handle as it enables your family to face life without the added pressure of financial burdens.
Your financial plan with address the adequacy of your existing death, disability and dread disease provision and will quantify the level of any possible shortfall.