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- Multiple ChoicePlease save your changes before editing any questions.
Advantage of unit trust
Can receive a good income.
you get a lump-sum
you may not invest small amounts monthly
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Short-term insurance against a possible event
insured event
assurance
insurance
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long-term insurance against a certain event
assurance
insurance
insured event
life cover
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legal requirement and is set up by the government as a minimum in order to provide.
non compulsory insurance
insurable risks
compulsory insurance
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Non-compulsory insurance is an optional cover against certain types of risk such as:
Theft
injuries to people
death
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Number of persons pool together the same amount, each month one of them will get the total sum.
Unit trust
insurance
Stokvels
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A personal pension plan which aims to create wealth for retirement.
Life Insurance
Retirement Annuities (RA)
Unemployment Insurance Fund (UIF)
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Insurance of life of a human being (that cannot be replaced)
Unemployment insurance fund
Life Insurance
Road Accident Fund (RAF)
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The fund is created to insure workers against loss of earnings arising from unemployment.
UIF
RA
RAF
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This is an insurance clause which refers to under-insurance and over-insurance.
Over insured
Average Clause
under insured
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Persons who want to insure their assets / life
Insurer
Premium
Insured
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who will take over specified risks from persons to indemnify them if the persons pay premiums.
Insurer
insured
Insured value
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Amount of money to be paid monthly / annually by the insured to the insurer for indemnification
insured
insurance amount
Premium
insurer
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papers issued by the insurer to the insured which includes all the stipulations of the contract
Insurance contract
contract
premium contract
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The fund provides cover against disability owing to injuries, occupational diseases or death.
Road Accident Fund (RAF)
Retirement Annuities (RA)
compensation
Compensation for Occupational Injuries and Diseases (COIDA