By August this year more than half of medical scheme members will have run out of day-to-day savings which means that doctor visits and medication would have to be paid for out of your own pocket. By managing your medical savings sensibly from the...
One in four people can no longer afford to pay for medical aid, a flash survey among users of online financial guide, Justmoney.co.za, has revealed. As the price of medical aid premiums rises by an inflation-busting average of 9.11%*, adding to the...
It is that time of year when your medical scheme will require you to select your plan for next year. This is a good time to reflect on your medical needs to ensure that you are on the correct plan. Andrew Edwards, principle officer at Liberty...
Unexpected medical costs can wipe you out financially so insuring for hefty medical bills is an important part of your financial plan. Medical schemes are fairly expensive and have been seen as the preserve of higher income earners. Fortunately...
After working for his company for 24 years, Joseph was offered a voluntary retrenchment package. Due to his years of service the package is attractive with the company effectively offering him a year’s salary. Joseph is not part of the union and he...
With so many articles and books written about "women and money" one may ask the question as to why we have this focus on “women and money” -surely money is gender neutral. The reality is that despite all the advances women may have made in the...
“What to expect when you’re expecting”, the latest American blockbuster that was released in South Africa in June this year, put the spotlight on the journey by parents-to-be as they prepare to become parents for the first time. This is both an...
This is a very interesting press release from Discovery Health that argues that medical scheme costs are being driven by higher claims as more ill people sign up for medical schemes than healthy people. Actuarial research estimates that if medical...
It is important to review your vehicle insurance every year to insure that you have valued your car according to its replacement value. Insuring based on the replacement cost of your car not only saves you premiums but it is also important in the...
Getting excited about life insurance may sound like an oxymoron but as I sat through the presentation of new long term insurance company BrightRock that is exactly how I felt - finally I had found the life cover I have been waiting for. As I walked...
As medical cover costs increase many people are unable to afford even an entry level option on a medical scheme. There are other options in the market which provide at least some cover for basic medical needs. While people may be familiar with hospital plans, health...
Many consumers are unaware of the fact that their life cover, short-term insurance and retirement annuities may offer retrenchment cover. Auto & General issued a press release this week reminding customers that they offer a premium waiver for six months if the...
A new South African survey has revealed that 82% of respondents leave expensive belongings in their cars overnight, not only exposing their motor vehicle to potential expensive break-ins but also leaving their personal and sometimes irreplaceable belongings vulnerable...
Seeing tow trucks parked at my local intersection recently reminded me of a scam whereby tow-truck drivers dupe unsuspecting accident victims into allowing them to tow the victims' vehicles. The scam involves the driver telling you he will call your insurance provider...
City Press was recently sent a copy of a loan agreement between a customer and micro-lender Letsatsi Finance. In this agreement Letsatsi Finance lent the customer R8000 and included insurance on the loan at a monthly cost of R320. According to the loan agreement this...
When you take out a loan or buy a car, you will often be encouraged to take out credit life which is an insurance to settle the loan should you die, become disabled or lose your job. While credit life has its place it can be abused and consumers need to understand...
Today I received a press release from an insurance company which made me realise I have been very lax about my security. The article raised the point that most people do not change their locks when they move into a new home. I just realised I never even thought about...
South African consumers may be buying cars with alacrity, but the cost of running a car isn’t insignificant. With this in mind, Chris de Kock, executive head of sales and marketing at WesBank, has come up with some tips to help us all save on our monthly car expenses....
Companies with footprints in the Middle East and North Africa are probably more interested in political risk and insurance than in the markets right now. With Libya in chaos and with tensions in Bahrain and Yemen escalating, it's fair to say the region is chronically...
The ombudsman for long-term insurance mediates in disputes between members of the long-term insurance industry and policyholders. The service is free and the ombudsman helps to resolve disputes quickly, through mediation and with cost-effectiveness in mind. When...