Interesting articles about insurance

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Things that you should know about Life Insurance

A life policy is vital as part of a financial plan, especially if you are the breadwinner of a family. For a small premium each month you will get vast peace of mind for your family will be financially protected if you die.

Your family must know about the policy and where you keep it. Update your policy if there are life changes eg. divorce, death of a beneficiary or new addition to the family.

To change the beneficiary on a life policy you can’t only change your will. The insurance provider has to be informed to alter the policy details. A policy overrides a will.

The standard amount of cover is ten times your annual earnings plus debt. Though this is a rule, rather ask an expert to determine the cover you need.

Not only breadwinners need cover. A home maker provides a valuable financial contribution to the family. Both spouses should have life insurance policies.

Not everyone needs life insurance. If you are young and without dependents, you may not need life insurance, but it is good to buy cover if you are planning on having dependents.

Premiums for a life insurance policy are determined by your age, gender and risk classification.

Ways to determine Life Insurance cover

Income replacement:

Your age and earnings are considered. Starting with your age, determine how many years of income you will need to replace in the event of your death.


Your particular situation is considered to assess the impact of your death on your dependents. Factors included are whether your spouse will continue or start to work, the number of children, a mortgage to pay off and the cost of educating your children.

Type of insurance cover : 

Two basic types of Life insurance are term and cash-value insurance or permanent insurance.

Term insurance has no investment section. You decide how much coverage you need and the period that coverage should remain in effect. A level premium over the term of the policy, is possible. Term insurance has lower premiums than cash-value insurance. It is recommended to invest the difference. Unfortunately, most people spend it.

Term insurance will provide the highest coverage for the lowest premium. At the end of the term, the need for insurance may be reduced or abolished.

A comprehensive study was done last year and it was revealed that 100% of people die. Everyone needs cover at some stage of their lives.



This post originally posted on and reposted with permission.

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You need Designated Driver Assist

Designated Driver Assist: Don’t let your ego rule the road

Here’s the thing: When you need Designated Driver Assist you jolly well NEED designated driver assistance. But by the time you need it, the alcohol is speaking and the tipsy ego is convinced of its own invincibility. Thousands of lives have been lost because of this contradiction in the human knowledge of its own limitations. Am I a spoil sport? Yes! A thousand times yes. I would rather be the recipient of censure than the killer of somebody’s child/ breadwinner/parent.

Designated Driver assist: The end of fun? – Certainly not!

It is a good idea for the designated driver to take charge of the vehicle keys at the start of the evening out. The problem with a friendly arrangement is that it is usually the same person who volunteers to be the driver when friends go out for “the old razzle dazzle” on the town. At this point I think we have a good opportunity to thank all those willing abstainers. It is not melodramatic to point out that these responsible people have saved the lives and limbs of many road users.

Designated Driver Assist: Options – Lifestyle decisions

Road deaths in South Africa have alarming statistics: Alcohol and speed are major causes. There is a new and heart warming movement afoot to deal with this problem in a no nonsense and non-emotive way.

Conscierge companies offer a variety of services to get people home safely after a night out. People that work hard mostly like to play hard, and making use of designated driver arrangements allows them to relax and enjoy themselves without either somebody having to still be ‘on duty’ or placing anybody at risk.

At this time Dial Direct offers a Designated Driver Assist cover that operates only in certain metropolitan areas. It is a marvellous service, but remember to make sure the service reaches to where you (are and where you like to party). The usual benefits (cash back rewards after four consecutive years of cover) apply but in addition to that you can book a trip only 90 minutes before required, and you can be taken home in the early morning hours, two trips per month are included (How often do you party anyway?) and you are entitled including two passengers. As an extra safety measure, two drivers are on duty.

Isn’t it time you looked at Designated Driver Assist as an Insurance option?

This article was posted on  and reposted with permission.



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How to avoid the biggest mistake when you retire

When it comes to thinking about your retirement, it is very  easy to imagine sitting back, doing as little as possible, enjoying the autumn of your life. What you should be thinking of is how you can avoid financial stresses and strains when you get there! To avoid these, you have to avoid making the biggest mistake most retirees make.

Don’t give up all your active income

Active income is the money you make from slogging hard or what you generate from your business. Active income is the opposite to passive income which you will get from your pension or retirement annuity. If you work more, you can increase your active income. You can only increase your passive income by getting better returns on your investments.
Most people who retire, give up their active income and this has 2 negative effects:

  1. The longer you go without your active income, the harder it is to get it back.
  2. Relying on your passive income means inability to make good investment decisions.

The dream of a retirement where you follow your dreams, never realise for most people. To achieve this lifestyle of luxury in your golden years will take a very large pension or retirement fund. To achieve that lifestyle means opting for riskier investments in the hope of bigger financial rewards and the potential to devastate your retirement dreams.

Part-time work after retirement has plus points

The way to take the pressure off your passive income is to work. Many retirees find that working makes them feel better about themselves too. It doesn’t mean slogging away full-time. There is  a variety of things you can do to generate an active income. Look at part-time opportunities which could be consulting work related to your previous employment. An online business doing something that you love, is also an option.

In your own business, you can still be involved in running the company, while others can do the lion share. By generating an active income, you make more money and don’t have to worry about your investments. This way you enjoy your retirement.

That’s the way to  avoid the biggest mistake you can make when you retire.