For most fmailies their home is their biggest capital asset!
Nobody likes to think about death or dying. Yet unfortunately this is part of life’s realities. Even more terrifying is the thought of dying too soon... and leaving your loved ones with an inadequate financial position and most of all no home to live in. It is for this reason that the major banks in SA request Life Cover for at least the amount of the Bond.
If you were to die today, would your family have adequate financial resources to enjoy the same standard of living they are used to or would they have to cope with financial hardships, over and above the trauma of your death? If there is insufficient liquidity in your Estate to cover the liabilities, the Executors are legally bound to dispose of any or all of the assets in the Estate as the case may be - this could include the family home.
To avoid such a sttuation presenting itself you need a Life Assurance policy in place before your bond is registered. There are a wide range of options to suit your needs.
Greg A Carr
Liberty Group - Ferndale Agency
Bus: 011 289-0232
Fax: 011 289-0447