Risk Planning: Protecting Your Family, Business and Assets
Originally published . Updated .
Risk planning means identifying the events that could derail your finances and putting plans in place before they happen, so that you and your family stay financially secure through the hardest times.
Your family
Protecting your family is the foundation of any risk plan. That means preparing for illness, disability and death. Heart disease, for example, is a leading cause of both short-term and long-term disability, and it can leave someone unable to work for long periods. Without the right cover, medical costs and lost income can be devastating.
The cover that protects your family:
Medical aid and health cover pays medical expenses, so you can get the care you need without financial strain.
Life cover provides for your family if you die, so they can maintain their standard of living.
Disability cover replaces part of your income if illness or injury stops you working.
With this cover in place, your family is provided for and you can focus on recovery.
Your business
Businesses face their own risks, from losing a key employee to a major financial downturn. The sudden loss of a key person can disrupt operations and cost the business heavily. A clear risk management plan keeps the business running.
Cover for businesses:
Key person cover pays the business if a crucial employee dies or becomes disabled, funding the recovery and the search for a replacement.
Business interruption cover replaces lost income and pays operating expenses if the business temporarily cannot operate.
Public liability cover protects against lawsuits and claims of negligence.
Your assets
Your home, car and valuables are exposed to theft, natural disasters and accidents. Without cover, losing them can mean serious financial hardship.
Cover for your assets:
Home and contents cover pays for damage to your home and belongings from fire, theft and natural disasters.
Vehicle cover pays for damage to your vehicle and your liability in an accident.
All-risks cover protects valuables such as jewellery, electronics and art against loss or damage.
A complete risk plan covers your family, your business and your assets, so one unexpected event does not undo the rest of your financial plan. We build each plan around your circumstances and review it as your life, family and assets change.