R1 million of cover for a healthy 35-year-old non-smoker is around R180–R260 per month. Smoking, age and existing conditions are the biggest premium drivers — the same cover for a 45-year-old smoker can exceed R600 per month.
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A common rule is 10–15× your annual income, plus enough to settle your bond and any debt. Families with young children should err on the higher end.
Pay-outs to a nominated beneficiary are tax-free in your beneficiary's hands but may attract estate duty if paid into your estate. Naming a beneficiary directly is usually more tax-efficient.
Term cover runs for a fixed period (e.g. 20 years) and is cheap. Whole-of-life cover never expires and builds value, but costs significantly more for the same sum assured.
Usually yes, but you may face a premium loading, an exclusion for that specific condition, or both. Honest disclosure at application is critical — non-disclosure is the most common reason claims get rejected.