The importance of retaining risk cover during the COVID-19 pandemic:
The lockdown, due to the COVID-19 pandemic, has entered into its fifth month with the government allowing increased economic activity. However, there is still a great deal of angst amongst people relating to the impact of the pandemic on their income and health, due to the rapid increase in the number of confirmed COVID-19 cases observed in South Africa.
The Burden of Disease Research Unit of the South African Medical Research Council, which tracks the weekly deaths for the country, has estimated excess deaths from natural causes amounting of 17 090 over the period between 6 May 2020 to 14 July 2020, compared to what was originally expected based on historical data.
These excess deaths include those from conditions that might have been diagnosed and treated had it not been for the pandemic, as well as those that are caused directly by COVID-19. The rapid increase in the number of confirmed cases and the excess deaths observed, highlights the need to ensure that employees are adequately covered by their employer in these uncertain times.
The household survey conducted by Statistics South Africa (Stats SA) shows that 48% of children aged between zero and six stay in single-parent households. While most of the economy has re-opened, schools for most grades will be closed for the next month and daycare facilities remain closed. This means that as employees return to work, there may be a great number of children that may be left alone without an older sibling or adult caregiver, increasing their vulnerability and overall need for educational support.
In addition to this, employees that are physically returning to work may be at greater risk of contracting the COVID-19 virus, increasing the fear that their children's education may not be provided for if something happens to them.
For more information feel free to contact me on:
C: 083 454 3269
T: 044 879 1791
Its primary role is to provide a variety of risk insurance products that cover losses and bad debts on exports. The ECGC also offers export credit insurance cover to banks and financial institutions so that they can provide trade-risk coverage to exporters.
Export Credit Guarantee Corporation of India is fundamentally an export promotion organization, to provide credit guarantee on the default of payments by the buyer. It works as an insurance firm who guarantees export payment, if the buyer defaults in making payment.
*Great news to share, LIC is providing risk cover against #covid19 so please avail this opportunity and contact me to invest in LIC for a most unprecedented time on the go*
#RBI has reduced the repo rate of banks to 40 basis points, that means the interest rate on returns be it FD or savings account, its going to be mere peanuts* *So invest in your hard earned money in the most reliable and highest on return, LIC. It still offers an unbelievable rate of interest 9-12%, avail it now or never*
Happy to solve your investment queries regarding LIC...please comment inbox to have a financial advice for right investment.
Buffalo meat exports have suffered a loss of Rs 5,300 crore since the lockdown began in March, an industry association said on Friday. “Opening of the exporting units will help the sector,” said Fauzan Alavi, spokesperson for All India Meat & Livestock Exporters Association.