Long-term insurance is insurance that covers major life-changing events, such as death, retirement and disability. Long term insurance includes life and funeral insurances that provides for your family in times of need. It also includes retirement annuities short-term and long-term investments, to provide you with either an income upon retirement or a lump sum payment on the date on which your policy matures.
Funeral insurance provides your family with the finances to pay for the funeral service as well other costs related to the funeral of the insured. Some policies have benefits that include funeral parlour services, repatriation costs and even medical costs if there are any. Funeral insurance gives you and your family peace-of-mind knowing you can bury your loved ones with respect.
Saving for retirement is relatively easy. Saving enough to maintain your living standard after you stop working is a more difficult challenge, especially with inflation eating away at your precious nest egg. If you want to maintain your current standard of living, afford that special little beach cottage, take trips overseas, study or start an exciting new hobby and not be financially dependent on your children, you need to take charge of your life and start investing in your future as soon as possible.
Upon retirement you may be confronted with the challenge of how best to preserve your nest egg. Your ability to sustain your desired lifestyle will depend on the growth of your retirement capital as well as the level of income you choose to draw after retirement.
A Life Annuity is a post-retirement product providing the following benefits:
Linked Living Annuity
When you retire, Linked Living Annuities enable you to transfer the benefits from your retirement fund into a flexible, personalized investment portfolio that matches your risk profile and provides you with a retirement income.
You can construct your portfolio from a wide range of funds together with other underlying investment options, such as shares and fixed interest instruments. This allows you to continue your equity exposure after you retire, whilst maintaining control over the underlying assets and your risk profile
Short term insurance is the insurance you take out on your personal assets such as your car, your house and your household contents. Businesses also require cover for their buildings, office equipment, plant and machinery etc. The purpose of short-term insurance is to indemnify you against losses that you may suffer as a result of events such as accidents, crime, floods or fire and to place you in the same position you were before to the unforeseen event.
Personal insurance is insurance that one takes up to cover their personal possessions such as the house (building), household contents (furniture), cell phones, cameras, jewellery and computer equipment. Items are covered under the short term insurance for unforeseen events such as theft, fire, water damage, accidents and acts of nature (floods or hail damage). The purpose of personal insurance is to put you back in the same passion you were in before suffering a loss from an unforeseen event. Generally personal insurance is a month to month insurance cover with the premiums payable monthly, but can also be paid annually. The premiums are calculated based on the values of the insured items as well as the individuals risk profile– i.e. location, age, claims history, etc. Khanyisa Insurance Brokers works with the leading insurance companies in the country and will ensure that your personal possessions are comprehensively insured. Give us a call and allow us to get you an obligation free quotation.
Commercial insurance covers a Business and its assets against potential losses such as fire and lightning, theft, liability, accidents and other losses that your business might be exposed to. This cover includes buildings, vehicles, electronic equipment’s, loss of profits, injured employees and moreof profits etc. injured employees and more.
Liability Insurance protects an individual or business from the risk of being sued and held legally liable for any errors and omissions that might have occurred due to any action deemed as negligent. Liability insurance covers civil liabilities to third parties arising from bodily harm, property damage or other third party losses.
Goods in transit (GIT) covers property against loss or damage while it is in transit from one place to another or being stored during a journey. GIT insurance also protects the transporter for his/her responsibility in the event of damage or loss during transportation. You can take GIT insurance for goods being distributed in your own vehicle/transport or by a third party carrier, both locally and abroad. The means of conveyance includes rail, road and air transportation – for sea transportation refer to the Marine section.
Marine Insurance provides cover against loss, damage or destruction of cargo, freight, merchandise, or the means or instruments of transportation.It will include the transit of cargo over land at each end of the voyage.
Personal Accident provides cover or compensation in an event of accidental injuries, disability or death.
Below are the types of Extensions that one can enjoy under the above mentioned type of cover:
Risk Management is the continuing process to identify, analyze, evaluate and treat loss exposures and to monitor risk control and financial resources to mitigate the adverse effects of loss
Loss may result from the following:
Agriculture is the process of producing food, feed, fibre and many other desired products by the practice of farming, cultivation of the soil for the growing of crops and raising livestock for food, other human needs, or economic gain.
Crop and Agriculture Insurance covers the farmer against adverse weather events such as drought, excessive rain, storm, hurricanes, wind, frost and hail. There is a section on the policy that will allow the farmer to cover their livestock and other assets.
Construction and Engineering insurance refers to providing economic safeguard against the high risks involved in the construction process and the numerous accidental faults and errors which encompass it.
A guarantee is issued by a bank or insurance company to a contractor to cover the employer against non-performance of the contractor.
The Bank or insurance company stands as a surety for the contractor. If the contractor fails to successfully execute the project, then the employer can claim against the guarantee and the employer can be paid by the guarantor. There are various types of guarantees that the contractor can take such as the performance guarantee, retention guarantee, advanced payment guarantee, bid guarantee, maintenance guarantee and supplier surety.
Engineering insurance will cover the contractor against risks such as fire,
theft of material water damage, liability claims.
Some of the products offered by Khanyisa are: