Life Cover in Dollars: A Game Changer for Global South Africans
In this insightful podcast, Tony speaks with Harry Joffe, Head of Legal at Discovery Life, about the increasingly popular Dollar Life Plan. Designed to meet the needs of globally mobile South Africans, the product allows policyholders to take out and pay for life cover in US dollars.
Harry Joffe unpacks the practicalities of premium payments, estate planning advantages, and innovative uses of foreign trusts and offshore payments.
This conversation provides valuable insight for financial advisors and clients navigating cross-border financial needs, estate duty implications, and long-term financial security.
Key Points from the discussion:
Dollar-denominated life cover addresses offshore estate planning needs.
Clients can pay via SDA or directly from offshore funds.
Premiums are affordable, starting at $50/month.
Policy is issued from Guernsey and pays to offshore bank accounts only, making it exempt from South African estate duty.
Offshore structures like trusts, companies, and foundations can own the policy.
Discovery offers a “short-form trust” for simplified, cost-effective estate planning.
Practical for covering offshore estate taxes (e.g., UK or US situs tax).
Used increasingly by middle-class families, not just high-net-worth clients.
Vitality members can receive a 50% discount on premiums based on the exchange rate.
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19:45
Global Risk Trends: Misinformation, Geopolitics & Climate
In a fast-moving world, businesses face increasing risks from misinformation, geopolitical instability, and climate change. In this discussion, Spiros Fatouros, CEO of Marsh McLennan Africa, provides insights into the evolving risk landscape. He highlights key findings from the latest Global Risk Report, emphasizing the impact of AI-driven misinformation, business interruption, and environmental threats. From supply chain disruptions to long-term climate planning, organisations must take a proactive approach to risk management. This conversation explores how businesses can better navigate uncertainty and ensure resilience in the face of growing global challenges.
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14:41
The Global Impact of Tariff Wars on Emerging Markets
South Africa’s GDP growth remains sluggish, but can the right reforms drive a turnaround? In this discussion, Tony speaks with Reza Hendricks, Portfolio Manager at PPS Investments, about the key factors influencing the country’s economic outlook.
They discuss the role of infrastructure, logistics, and policy efficiency in unlocking growth, as well as the impact of global tariff wars. Reza shares insights on how PPS Investments is navigating uncertainty, balancing risk, and positioning for future opportunities.
Tune in to gain expert perspectives on the South African investment landscape.
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14:14
The Evolving Role of Gap Cover in South Africa's Healthcare Landscape
Healthcare costs continue to rise, leaving many South Africans exposed to significant financial risks. Martin Rimmer, CEO of Sirago Underwriting Managers, shares his insights on the evolving role of medical gap cover, its impact on affordability, and the importance of consumer education. He explores how regulatory changes, industry challenges, and innovation are shaping the sector. In this discussion, we unpack why gap cover remains a crucial financial tool in an uncertain healthcare environment and how providers can enhance their offerings. Join us for a deep dive into the opportunities and obstacles that define the future of healthcare funding.
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13:12
Data Quality: The Hidden Competitive Advantage
Data is the new gold, but only if you can use it wisely. In this insightful interview, Tony from COVER chats with Angus Black of BarnOwl Data Solutions to unpack the explosion of data in the insurance sector—its growing volumes, evolving quality demands, and the pressure on insurers to extract real value. Angus shares practical insights into working with legacy systems, defining and measuring data quality, and how regulatory pressure is reshaping priorities. If you're in insurance, this is a must-listen for understanding how data is becoming your most important asset.
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