Will you be able to afford medical aid when you retire?
As you age, your need for health cover increases. Ideally, you need a plan with hospital cover, high chronic benefits and high day to day cover. But unless you have saved a substantial amount to cover medical aid contributions after retirement, you may find such an option completely unaffordable. A 58 year old single woman who plans to retire at age 60 will need to have saved R1 million to fund medical aid contributions throughout her retirement. A married man aged 58, who wants to retire at 60, needs to […]
READ MORE