Building a comprehensive risk portfolio

a life insurance contract is typically between a client and an insurance company, where the insurer promises to pay a designated beneficiary a sum of money in exchange for a premium, upon the death of an insured person (often the policyholder).

Depending on the contract, other events – such as terminal or critical illness – can also trigger payment. Other expenses, such as funeral costs, can also be included in the benefits. The inclusion of other events can, however, become confusing for the consumer, as some of these events require separate cover.

“Sometimes all the covers can be integrated and sometimes they are standalone,” says Ana Scott, executive financial