The effect of suffering a major loss of property can be devastating and may well under certain conditions lead to insolvency. Insurance as opposed to assurance covers insured individuals or commercial entities against losses to own or third party property for insured events that may occur.

What will happen to your business if you should die or become incapacitated? Even worse what will happen to those that are dependent on you? Dying or disability isn’t something that we plan for but in reality it happens every day. Through proper analysis and planning the financial and security impact can be minimised even if the psychological trauma cannot.

Unlike short term insurance covering the loss that may or may not occur, estate planning is a foregone conclusion and a road we all have to travel. It is therefore of paramount importance that we plan and continuously adapt our plans for death and disability. Proper estate planning will result in minimising the tax as well as lessening the disruption in the economic lives of survivors.