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Choosing Death Cover 
 
Why would I elect to reduce my death cover? Back to Death Benefits page

The only reason why you would elect to reduce this cover is because you feel you do not need it.
For each one times annual deemed pensionable amount you reduce your salary by, you will be credited with additional retirement savings. The Trustees will review this additional credit from time to time.
 
Before electing to reduce your death cover, you should make sure that you have sufficient cover. In doing this calculation, you should take into account any death cover you have in addition to the benefit provided from the UCT Retirement Fund (e.g. the separate UCT Group Life Assurance Scheme).
 
What level of death cover do I need?

The amount of death cover you need depends on how many dependants you have, the age of these dependants and how financially dependent these dependants are.
 
The Toolbox contains a Death Cover Calculator that will help you to determine that amount of death cover you require.
 
Can I increase my death cover again at a later stage?

Only if the number of people dependent on you increases may you elect to increase your death cover again. However, your death cover will only be increased if the Insurer with whom the Fund has insured the death benefit is prepared to increase this cover. The Insurer will most probably ask you to go for a medical examination so that it can assess whether you are in good health.
 
So there is a risk that if you elect to reduce your death cover, you may not be able to increase it at a later stage if you are in poor health at this time (even if the number of people dependent on you increases).