What Women Want – Insurance That Meets Their Needs

Income protection is designed to protect the working individual’s future income stream. If your client can’t work due to an accident, illness, or injury, FMI’s Income Protection will pay up to 100% of their monthly income.

With so many shoes to fill, from professional to partner to mother, women have different financial planning needs to men. And, for women who work, those needs depend on them generating a steady income. This makes income protection an essential insurance.

Ask your clients:

Can you live without your income?
Gone are the days of women depending completely on men for financial security. Whether supporting themselves or contributing to a joint household, they probably depend on their income to sustain their lifestyle. How would they pay the bills, buy groceries, or save for the future if they were temporarily or permanently disabled?

Do you know your health risks?
Along with a higher risk profile for dread disease, women might have to deal with the possibility of a number of female-specific illnesses such as cervical cancer and pregnancy-related complications, which could have a major impact on their ability to work.

Are you planning ahead?
Life changes all the time and your female clients might be planning to have a family. Have they thought about how children will affect their ability to work? Will they need their income during the precious time after their child’s birth? Raising a child can also present a financial strain, especially if medical complications arise during the child’s life. These complications could prevent your client from working in the same way as they did earlier in their career.

Going the extra mile for women

FMI offers temporary and permanent income protection cover, designed to cover your clients’ income protection needs. We also understand that there are circumstances beyond disability that can affect a woman’s ability to work. The following benefits help to cover the specific needs of our female clients:

Childbirth benefit:
If your client has selected a primary or fortnightly waiting period, the Childbirth benefit is linked to their Temporary Income Protector cover and pays a 1 month benefit (up to a maximum of R20 000) when your client gives birth, if the birth occurs after the first 24 months of the policy.

Spouse Protector:
If your client’s spouse is disabled, this will very likely affect your client’s ability to work. The Spouse Protector will pay out a monthly benefit, for 3 months, based on the spouse’s disability. The benefit amount equals the Insured’s cover amount or R20 000 per month, whichever is the lesser.

Child Protector:
If your client’s child fell ill, it would have a serious impact on their ability to work. If the child is diagnosed with a condition defined in the Juvenile Critical Illness Table, the Child Protector will pay out a monthly amount until the child turns 18 to help cover the costs associated with caring for a seriously ill child.

Dread Disease Enhancer:
Developed to assist in those instances where a disability can incur additional costs over and above your client’s usual monthly expenses, this benefit increases your client’s Temporary Income Protector pay-out by 20% when the disability is a result of a dread disease.

Download a brochure explaining the above to your clients or contact the Financial Adviser Distribution Team on 0860 10 52 08 or [email protected] for more details.