Taking out life insurance is one of the ways to make sure your loved ones are taken care of when you are not there anymore.

However, many farmers only have seasonal income, and with cash only coming in a few times a year, it becomes difficult for farmers to commit to monthly debit orders for insurance premiums.

The danger is of course that if monthly premiums are not paid regularly, the policy can lapse, costing the farmer not only the cover, but the cumulative premiums paid to date as well.

Now a partnership between Kuwala Financial Services and Ongeza Life has developed a product tailored to farmers’ often inconsistent cash flow. The product, Ongeza Life Plan (OLP), is underwritten by Guardrisk Life Ltd., a member of Momentum Metropolitan Holdings.

This cover has the flexibility to allow farmers to buy tranches of life cover on a pay-as-you-go basis, depending on their cash flow. Similar cover is available for farmworkers in whose case the farmer may use a portion of the annual bonus payable to the worker to pay for the cover.

For more information, contact Kuwala Financial Services directly on 063 296 8632 or 066 376 1193 or email info@kuwalafs.co.za.