Exchange controls can be restrictive, but both the current annual allowances available to South Africans, can be utilised as discussed in a previous post can be utilised. Remember the money you take overseas under these allowances, uses are typically not …
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Ordinarily one would need an overseas bank account, especially to pay for a policy that was taken out whilst travelling abroad. International bank accounts come with their own set of challenges (which I will discuss in other posts). Ideally the most …
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Insurance premiums vary depending on your age, the type of coverage, the amount of coverage, your insurance history, and other factors. The process of determining the premium is known as underwriting. Certain underwriting places a heavy weight on the country …
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Why would you buy ZAR denominated life insurance other than for potential ZAR denominated liability matching? The same reasons why an investor would consider investing directly overseas will apply as to why one would consider buying USD denominated life insurance: …
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The issuance of this type of insurance in South Africa is governed by the Long-Term Insurance Act. A ‘long-term insurer’ is defined as a person registered or deemed to be registered as a long term insurer under the Act. A …
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In theory yes, but they typically don’t. A life insurance policy creates a liability for an insurer and insurers are fanatical risk managers. Should they offer foreign currency denominated policies it would create foreign currency denominated liabilities against ZAR denominated …
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