The proceeds of a dollar life insurance pay directly outside of the borders of South Africa.
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An estate planning advantage
Creating a tax efficient nest egg for the next generation.
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An estate planning tool
A dollar life insurance contract is currently one of the most effective and efficient estate planning tools available to South Africans.
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What type of life insurance policies can be USD denominated in a South African context?
Any I suppose but they typically are not when issued by South African insurers. The most prevalent will be investment type policies like endowments issued in hard currency denomination and are typically lump sum investment oriented. These products are very …
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Can USD denominated life insurance have additional benefits linked like disability or severe illness pay out features?
Yes, it depends from product to product but insurance contracts typically have various optional benefits that can be elected. It will influence the price of insurance and typically critical or sever illness benefits can be quite expensive even if the …
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Are the premiums paid for USD life insurance tax-deductible?
No it is not and it will be treated like any other personal insurance premium.
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