Death Income Protection
Pays a monthly income to your dependants when you die.
Death income cover provides a reliable monthly income for your dependants if you kick the bucket. You get to choose how long the payments continue, up to a maximum of when you would turn 70.
Indie Assist is for anyone who has a family that relies on their income (think expenses like school fees, groceries, medical bills and accommodation). When you go to be with Elvis, we’ll ensure your peeps can keep livin’ the dream by paying them a reliable, monthly income. These payments continue for as long as you choose, up to a maximum of age 70. This income grows each year with inflation to ensure they have the same buying power over time.
Most people cover 75% of their earnings after tax but before other deductions, like pension fund contributions, for a specified number of years (called the claim term). But you’re not most people. In fact, most people aren’t most people. So, how much income protection you need really depends on your situation. Fortunately, we’re here to walk you through it.
If you think dying would suck for you, just think how bad it could be for those left behind who depend on your income for their daily bread, school fees and shopping sprees.
With Indie Assist, we pay your family a guaranteed and dependable monthly income when you die. This income grows each year with inflation to ensure they have the same buying power over time.
Indie Assist is for those of us with people in our lives who rely on our income.
Indie Assist will pay out if you die.
Indie Assist will not pay a claim if:
We will pay all valid claims as fast as possible. How long that takes depends on the nature of the claim, as well as how quickly we are given the relevant claims documentation.
Claims are paid to your beneficiaries (or your estate if you haven’t specified any) as fast as possible.
When you choose to buy Indie Assist, you can select how long the claim duration will be. We will default this to be 10 years, meaning that if you die, your beneficiaries will receive an income for 10 years from when we start paying the claim.
You can choose any duration you want, from 10 to 40 years. As you approach the milestone of becoming a septuagenarian, we will automatically reduce the claim duration. For example, when you're 65, the maximum claim duration will be 5 years.
If you choose to increase your claim duration term after purchasing Indie Assist, we may require additional medical underwriting before the increase is granted.
Indie Assist claims will be paid to your nominated beneficiaries. If you don't have beneficiaries, the claim will be paid into your estate.
Any part of the cover paid to your estate will increase your assets.
Because estate duty and executor's fees are based on the net assets (what you own minus what you owe) in your estate when it is wound up, more net assets means more duties and executor's fees.
Any part of the cover paid to your surviving spouse or public benefit organisation is not taxable and they will receive the full amount specified by you without any deductions for tax.
Your Indie Assist cover amount will automatically grow each year with inflation, but you can choose to opt out of this growth. Also, at any time, you can lower your cover, or increase your cover, or remove Indie Assist altogether.
Depending on the size of cover increase, we may first need you to answer some short medical questions
If a claim is paid, we will increase the income in claim by inflation every year. This means that the income your beneficiaries receive will keep up with inflation.
This cover will end when you turn 70. Obviously, if you die and we pay a claim, then the cover will also stop.