Page 30 - Waterfall City Issue 6 June 2023
P. 30
Waterfall City News
WHY WE NEED TO
PRIORITISE LIFE AND
DISABILITY COVER:
South Africans are covered for less than half of their household needs
We chat to A ccording to the 2022 Life and Disability Insurance
Gap Study conducted by the Association for
Mariska Comins, Savings and Investment South Africa (ASISA),
14.3 million income earners in South Africa only
Head of Technical have sufficient life and disability insurance to cover 45%
of the total needs of the household. This statistic implies
Support at PSG that households with one primary income earner would
Wealth. have to reduce their household expenses by more than
half should that person pass away or become disabled.
So says Mariska Comins, head of technical support at PSG
Wealth. She adds that peace of mind and financial freedom
go beyond just making the correct investment and savings
decisions: “It extends to preparing yourself and your family
for unforeseen circumstances and those that are not always
top of mind, such as death and disability.”
28 Waterfall City Issue 6 2023
