It all starts with you – have plans and policies in place for your family in any event
Published Date: 11/30/2023
Source: iMas Insurance Brokers
Bongi Tabane, iMas Insurance Brokers Provincial Sales Manager
Millions of South Africans do not prepare for the worst, the “it will never happen to me” mentality has left many people stressed and wondering what to do. The first step to prepare for the unexpected is to ensure that you have insurance policies in place to cover you should the worst happen. The decision starts with you, get freedom and peace of mind by planning for the future. Bongi Tabane, Provincial Sales Manager: at iMas Insurance Brokers (formerly known as Iemas Insurance Brokers) shares advice on how to cover you and your family for the future:
1. What is your role at iMas Insurance Brokers?
As a Provincial Sales Manager in Life Mass Market, my main role is to ensure that the financial planning needs of our members are taken care of by a team of qualified and experienced professionals. We reach out to our valued members, either virtually or in person, to assist with their life planning, identifying the gaps that might exist and providing personalised financial solutions suitable for them. Together with our insurance business partners, we also ensure that the claims process is seamless and stress-free.
2. Why is it important to have policies in place?
The future is uncertain, and policies are there to provide peace of mind, knowing that should the worst happen, you and/or your family will still be taken care of financially. Tomorrow is not promised as death is inevitable. Having relevant policies in place can easily ensure that should the adversity occur; family members are provided with dignified burials and the surviving ones are afforded a normal life, post the death of the one they depended on.
3. What are the most important policies an individual should have?
Individuals have different needs when it comes to policies, and unfortunately there is no blanket approach in addressing these needs. A married person with children, for example, will have different needs compared to a single individual. A family-oriented breadwinner may need life cover to take care of the family should they pass on and a disability and income protection cover to take care of them should they become critically injured and unable to work. An education savings plan is ideal to prepare for a child’s education and investments help an individual to prepare for rain days and retirement. Funeral cover is important to ensure a dignified send-off for your loved ones and can also cover extended family members depending on your needs.
4. Why is it important to have a Will?
It is no secret that once the owner of the assets has passed away, unfortunately, some of the family members may want to claim his/her assets. This could often lead to family feuds and animosity, which could even leave the dependents with no home and nothing to survive on. Having a last Will and Testament is the best way to have your say once you have passed on. It is a legal document that has the highest power to speak on your behalf, that also protects your loved ones. The moment you have assets to your name, irrespective of the value, it becomes imperative to have a Will in place so that your dependents can benefit according to your wish.
5. What is the best way to start saving and investing?
Saving and investing are crucial to ensuring a secure future for yourself and for those planned goals in life. An individual needs to start saving from first salary they receive. The earlier you start the better, as saving and investing require financial discipline. It is always advisable to save first and only spend what remains after saving.
Most people believe that they must save what remains after spending, however, the opposite is best practice. The best way to save and/or invest is to have different portfolios such as long-term investment (5 years and more), a tax-free investment as well as a notice savings account that will act as an emergency fund. It is wise not to keep all your eggs in one basket when it comes to savings and investments.
6. How does iMas Insurance Brokers differ from other insurance companies?
iMas Insurance Brokers is a reputable brokerage that provides our clients with a broad range of financial solutions. We are contracted to major Life Insurance provider brands in South Africa, and this gives us a competitive advantage over individual insurers. We have a big basket of products from different insurance companies and this way, we can cater for every customer need in the market at affordable rates.
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