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The Top Reason why You Need Insurance

<img src="Happy family.jpg" alt="Happy family" width="150" height="100">

What is the Top Reason why You Need Cover ?

Insurance installments – whether for long-term or short-term cover – should ideally form part of a monthly budget. Whether you need life cover or want to insure your car, home contents, computer, or that jumble sale painting that turned out to be valuable, the top reason you need insurance is peace of mind. 

Short-term Insurance

Short-term cover includes insurance of your possessions, e.g., a car, your household contents, or gadgets.1 Insuring your possessions will give you peace of mind in knowing that they will be replaced in case of theft or other (specified) damage. Being insured will ensure that you do not have extra worries to replace your possessions at a time you may be running low on cash.

Long-term Insurance

Long-term cover includes life and funeral insurance, retirement annuities, and endowment policies.2 Even if you do not have dependents at this time, it is best to get insurance as early as possible, as your age is one of the criteria which influence your insurance installment. With approximately 14 million new cases of Cancer a year3, getting dread diseases and disability cover, will give you the chance to focus on healing and not affording treatment.4,5  

Getting Insurance

When you decide to get insurance, be sure to only deal with reputable companies. In South Africa, the insurance company must be registered with the Financial Services Board (FSB).6 Speak to consultants and get quotes from different companies before making a final decision. Study all documents carefully and ask the consultant to explain anything you do not understand. Most insurance companies can be contacted through their websites, making it easy to get started on getting insured.

[1] Financial Services Board, “Short-term Insurance” brochure.

[2] Financial Services Board, “Long-term Insurance” brochure.

[3] World Cancer Research Fund Council, 2012 Worldwide Cancer Statistics. 

[4] Financial Services Board, “Long-term Insurance” brochure.

[5] Ombudsman for Long-term Insurance.

[6] Financial Services Board.

 

Hyperlinks:

Financial Services Board/brochures – www.fsb.co.za

Cancer Stat – www.wcrf.org/cancer_statistics/world_cancer_statistics.php

Ombudsman/Dread disease cover – www.ombud.co.za

 

Author: Carin Marais

Carin Marais, a trained language practitioner, has many interests, ranging from archeology and mythology to speculative fiction and technology. Links to other articles, fiction, posts, and her contact information can be found at www.carinmarais.blogspot.com or follow her on @CarinMarais.