Best Disability and Income Protection Cover

It is said that South Africans are under-insured when it comes to disability cover. Disability and death are usually taboo subjects, especially to the young and healthy.Yet it is advisable to get the best disability and income protection cover possible.

Most people are aware of disability cover, but don’t know much about Income Protection cover.

When you cannot work any more due to illness or an accident, your disability policy will usually pay out a lump sum. There are certain disadvantages to this:

  • It has to last for an entire working career.
  • Iinflation and interest will play havoc with this money.
  • The focus of disability benefit is usually on a permanent disability. When a temporary disability occurs – less than 90 days – one is not always prepared.
  • There will be income. This is especially worrying if self employed.
  • For self-employed individuals this temporary lack of income can create serious financial problems.


For whatever reason, if illness or hospitalization means you cannot pay your bills, you need to consider some kind of temporary, or permanent, income cover.

A lump-sum benefit policy usually only pays out when you are permanently disabled. Income Protection benefits however, provide for both temporary and permanent disability.

Income Protection Cover

Best Disability and Income Protection Cover

This kind of cover pays you a fixed monthly salary while you cannot work. This can be due to a disability, illness, an operation, or an accident. There are various ways of calculating the cover you need to receive short term, long term or permanent (disability) income protection.

Not every insurance company offers the same benefits for the same type of cover. It will be necessary to shop around until you find income protection cover that will give you and your family peace of mind when you are unable to work.

Facts about Income Protection Cover

  • You may take out cover from when you first start working at the age of 18.
  • You will have a tax-free income that pays out till you are able to return to work, retire at age 65, or die.
  • The extent of your cover will be based on your age, your lifestyle and the likely risks you face.
  • The maximum entry age is usually 60.
  • Monthly payments usually start 3 months after your last salary.
  • Your monthly income should be between 70% and 90% of your normal take-home pay.
  • Maximum monthly income will be in the region of R55,000.
  • Cost of the premiums will be based on your age, health, lifestyle, occupation, and income requirements.
  • Waiting period is about 60 days after the commencement of the policy.
  • Some insurance companies will provide short-term cover (up to 6 months).
  • The monthly benefit you receive is tax-free.
  • Certain exclusions may apply: HIV, sexually transmitted diseases, mental and stress disorders, drug or alcohol abuse, criminal acts, pregnancy and war injuries.
  • Pre-existing medical conditions may also be excluded for up to 24 event-free months.


Stop and consider… If you can’t work, who will pay the bills? Shop around, until you find the best disability and income protection cover to suit your individual income needs.


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All info was correct at time of publishing