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You’ve lost your income but insurance isn’t forking out? Here’s ...

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You’ve lost your income but insurance isn’t forking out? Here’s why

The lesson of the pandemic is: be very, very careful about what credit life insurance you take out

Consumer journalist

Insurance is mostly regarded as a grudge purchase; that is, until we experience a disaster of some kind, when we’re suddenly very grateful for the safety net.

The Covid-19 pandemic has proved to be particularly financially disastrous for millions of South Africans in many ways. If ever there were an hour of need, a time for years of investment in an insurance policy to pay off, this is it.

But while many have been saved, to some extent, by those insurance nets — credit life, travel insurance, business interruption — others have discovered the protection was phantom...

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