ConsumerTalk with Wendy Knowler

3 tips to avoid losing out on life insurance

Remember to update your beneficiary nominations and ensure that the updated nomination is recorded by your insurer, for example, if there is a marriage, a divorce, the birth of a child, the death of a beneficiary. The insurer will pay the death benefit according to the beneficiary nomination.

When taking out a new policy, it's extremely important to disclose accurate, complete information. If you don't, the insurer could repudiate the policy by relying on non-disclosure and any claim may then be declined.

Rather disclose too much than too little, and take time to record everything. There's a lot at stake - the non-disclosure doesn't need to be intentional for the insurer to rely on it as a defence, and the condition you failed to disclose doesn't have to be linked to the cause of the claim, as many people assume.

Seek out the exclusions in your policy, especially around pre-existing clauses. They are usually found in credit life policies. Claims are excluded if they are linked to a medical condition which existed prior to the inception of the policy.


Recommended

by NEWSROOM AI
Read More
Woolies pilots smart recycling machines at two CT stores

Woolies pilots smart recycling machines at two CT stores

Retailer Woolworths introduced a new recycling machine at its Palmyra Junction store last month. Its V&A Waterfront store is next.

When it comes to 'double debits', rely on the card machine not the bank SMS

When it comes to 'double debits', rely on the card machine not the bank SMS

Bank SMS notifications can be misleading when used as proof of transactions, says consumer journalist Wendy Knowler.

'It's time for SA Post Office to declare its incapacity' - complaints stream in

'It's time for SA Post Office to declare its incapacity' - complaints stream in

The Post Office says it has attempted to alleviate the backlog by redistributing international mail to other sorting centres.

You're unlikely to find appliance spares eight years after buying - Hirsch's CEO

You're unlikely to find appliance spares eight years after buying - Hirsch's CEO

For how many years should manufacturers or retailers keep spare parts after you have bought a product? ConsumerTalk investigates.

Tips on how to dodge dreaded telemarketers, spam calls and robocalls

Tips on how to dodge dreaded telemarketers, spam calls and robocalls

Consumer journalist Wendy Knowler shares advice on spam call blocking services and what the law says about unwanted telemarketing.

Unsolicited mobile subscriptions chowing your money? Here's what to do

Unsolicited mobile subscriptions chowing your money? Here's what to do

The subscriptions can deplete pre-paid airtime or data, and can land up as “content” charges on the bills for contract holders.

Popular articles
Let your nose decide if docci claims into perfume industry are true

Let your nose decide if docci claims into perfume industry are true

Claims have been made that the perfume industry don't want consumers to know the real cost of making these products.

Rail Enforcement Unit to be rolled out this week in the WC

Rail Enforcement Unit to be rolled out this week in the WC

The unit is aimed at curbing crime on trains as well as the destruction of railway infrastructure.

WATCH: Monkey takes the wheel, and Trump says climate change will "change back"

WATCH: Monkey takes the wheel, and Trump says climate change will "change back"

Khabazela shares some of the most popular tweets, posts, and videos on 'What's gone viral'.

Ramaphosa sets the ball rolling for the appointment of new NDPP

Ramaphosa sets the ball rolling for the appointment of new NDPP

Several legal entities and independent public institutions have been asked to help select possible candidates for the position.

Snakes season is here and if the crawlies visit you, here's what to do

Snakes season is here and if the crawlies visit you, here's what to do

Snake handler Willem van Zyk of Blouberg Snake Rescue says he's already being kept busy with callouts.

'VBS stolen money bought the most useless things like Ferraris and helicopters'

'VBS stolen money bought the most useless things like Ferraris and helicopters'

Deputy editor at Finacial Mail Sikonathi Mantshantsha says it is mind-boggling why no one has been arrested in the VBS saga.

Cape Town tenants could see property prices ease up, says RE/MAX

Cape Town tenants could see property prices ease up, says RE/MAX

The Cape Town rental market is said to be experiencing a major correction phase after an unjustified period of escalated prices.