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ZESTLIFE PAID SOME SERIOUS CLAIMS IN 2018 – SOME OF THEM COMPLETELY UNEXPECTED

Belonging to a medical scheme is expensive, make no bones about it. Don’t expect much for anything less than a R1, 000 a month. So imagine a hospital stay for something minor and then having bills start piling in. First it’s the surgeon’s bill followed closely by the anaesthetist’s and before you wipe your eyes […]

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DISCOVERY HEALTH 2018 – THE ESSENTIAL PRIORITY PLAN

Make sure you understand the co-payments and self-payment gap before choosing this one!   We’ve already given you the big picture view of the Priority range in a previous article. The biggest issues we have with the Priority series are: by far was the number of co-payments on this range. Other concerns were the self-payment […]

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DISCOVERY HEALTH 2018 – THE CLASSIC PRIORITY PLAN

If you’re going to be on the Priority plans – this is the one you need   Previously we gave you the 1, 000 foot view of the Priority range. There were three major issues: The biggest issue by far was the number of co-payments on this range. The self-payment gap and the limited above […]

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DISCOVERY HEALTH 2018 – IS THE PRIORITY SERIES WORTH DOWNGRADING TO?

Looking for the above threshold benefit but not willing to pay the price? Is this the answer?   But first a quick word about Priority… This is a great option if you’re the kind of person who just makes it into the above threshold benefit every year and never gets to quite enjoy the unlimited […]

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DISCOVERY HEALTH 2018 – THE ESSENTIAL DELTA COMPREHENSIVE PLAN

If you’re comfortable with the large self-payment gap and using the Delta hospitals then this one’s for you.   In the previous article we discussed the Essential Comprehensive plan. Now it’s time for its baby brother – the Essential Delta Comprehensive plan. And right off the bat, Delta networked hospital options are an excellent option. […]

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DISCOVERY HEALTH 2018 – THE ESSENTIAL COMPREHENSIVE PLAN

Not quite able to afford the Classic Comprehensive options but still wanting all the ‘extras’? Keep reading.   In the previous article we discussed the Classic Comprehensive Zero MSA Plan. It’s now time to get to the Essential Comprehensive plan, and then its baby brother – the Essential Delta Comprehensive plan. This plan differs in […]

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DISCOVERY HEALTH 2018 – THE CLASSIC COMPREHENSIVE ZERO MSA PLAN

Not interested in the whole savings thing but wanting ‘extras’ such as the R400, 000 oncology benefit? Look no further.   In the previous article we discussed the Classic Delta Comprehensive Plan. Today we look at the brother no-one talks about, the Classic Comprehensive Zero MSA Plan. This plan differs in two ways from the […]

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DISCOVERY HEALTH 2018 – THE CLASSIC DELTA COMPREHENSIVE PLAN

Wish you could join the Classic Comprehensive plan next year but short of cash? We have a solution.   In the previous article we discussed the Classic Comprehensive Plan. Today we look at its little brother, the Classic Delta Comprehensive Plan. This plan differs in three ways from the Classic Comprehensive plan: It’s cheaper which […]

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DISCOVERY HEALTH 2018 – THE CLASSIC COMPREHENSIVE PLAN

When someone tells us they’re on the “Classic” plan usually they’re talking about this one…   In part four of this series we looked at what exactly the Comprehensive range offers in terms of benefits. What gets confusing is the five slices that make up the Comprehensive cake: Classic Comprehensive Classic Delta Comprehensive Classic Comprehensive […]

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DISCOVERY HEALTH 2018 – WHEN SHOULD YOU CHOOSE A COMPREHENSIVE PLAN?

Needing a medical plan which does what it says it’s going to do? Look no further.   When it comes to the cream of the crop at Discovery Health, the Comprehensive plans – and especially the Classic Comprehensive plan – must rate as tops for the vast majority. It’s not quite at the level of […]

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DISCOVERY HEALTH 2018 – THE EXECUTIVE PLAN

Today we tackle the big daddy at Discovery Health…their Executive plan. That’s right; if you want the best that Discovery Health can offer, then this is the plan for you. If you missed the previous two articles, check them out here: Choosing your plan Is KeyCare the right match for you For most of us […]

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YOU’VE BEEN LIED TO YOUR ENTIRE WORKING LIFE – THIS IS THE WAKE UP CALL

Let me explain… Since you left school you’ve been chasing the dream of financial freedom.  The dream of: Working hard, Getting promoted, Earning tons more money, and Finally achieving financial freedom. But the truth is that the system is geared to eat you up alive. The plan is to milk you for as much as […]

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SHOULD YOU EVEN BE PAYING TAX?

Should you ever tell SARS about the money you earn overseas?   Sounds a bit unfair, right? Living in London isn’t cheap and having to pay tax locally ain’t nice. Is there a loophole? Let’s find out… The first thing you need to know is that we use a residence based system of tax. So, […]

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IS YOUR RETRENCHMENT PACKAGE TAXABLE?

So twice in the past month I’ve gotten a call from clients about the same thing – retrenchment. The first person was in the process of being retrenched and she wanted to know how much she’d get out after tax. The second person had already been retrenched and was calling to follow up on a […]

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SHOULD YOU RESIGN AND CASH IN YOUR PROVIDENT FUND?

The question on everyone’s mind: “Is the government trying to steal my provident fund?” Well that could be a possibility further down the road, you never know. Who’s to say they won’t force all pension and provident funds to invest in government bonds at some point? Or introduce some or other ‘extra’ tax on the rich […]

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WHAT HAPPENS TO YOUR LIVING ANNUITY WHEN YOU DIE?

Ever wondered what happens to mom or dad’s pension when they die? A close friend of mine discovered the answer in a roundabout way. Here’s her story… It all started with a fight over money “My ex husband passed away three months ago. I’ve been staying over at his house while he was in hospital, but […]

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THIS ONE QUESTION MAKES ALL THE DIFFERENCE AT RETIREMENT

What is the single most important question you need to ask at retirement? Will you take what you need or what you can afford? “Huh? That doesn’t make sense!” Hang on a moment, it might not make sense right now, but keep reading and you’ll see it makes perfect sense. Picture this scene for a moment… […]

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THREE EMERGENCY NUMBERS THAT SHOULD BE ON YOUR PHONE

Where’s your insurance company’s emergency assistance number when you need it? Let’s fix that problem right now! Grab your phone – whip out your car and home insurance policy – and store their emergency number on your phone. And while you’re doing that, store your policy number as well (or know your ID number off by heart). […]

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IS IT WISE GETTING MARRIED WITH AN ANTENUPTIAL CONTRACT?

So you’re thinking of getting married, are you? The big day is fast approaching and mom’s driving you up the wall… She’s juggling caterer, florist, and ‘Dominie’,* while dad’s on the couch, a fat smile on his face, telling everyone to ‘calm down and relax’… Hours and hours of preparation have been put into planning one of the […]

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THIS IS WHY HAVING A SPOUSE IS IMPORTANT

Which of these applies to you? My spouse is important and I’d have it no other way, or No way, I wish I was still single. I’m a huge fan of the first group. That’s because the single life sucks. It’s pretty cool being young and single – pretty awful being old and single. In your twenties…  […]

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ARE YOU SURE YOU WANT TO GET MARRIED IN COMMUNITY OF PROPERTY?

“Love is in the air…” Do those words ring any (wedding) bells with you? “Love is in the air, every sight and every sound… and I don’t know whether I’m being foolish; don’t know whether I’m being wise…” Well in case you’re wondering, the purpose of this article is to make you wise about all […]

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THREE REASONS WHY YOU NEED A WILL

What is the single most important thing you own? Maybe a home? Or how about that car? Nothing at all? Here’s one for the ladies…what about your shoe collection? We all own something, right? So I guess this raises a second question. Who gets to own all this ‘stuff’ when you pass away? Now isn’t that a good question. […]

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CAN YOU STILL AFFORD TO SEND YOUR CHILD TO UNIVERSITY?

Like you, I want my child to do better than me in life. So I’m trying to have a chat with him about having goals in life and finding his calling in life sooner rather than later. I start off by asking him a question: “So what do you want to do when you leave […]

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DON’T MAKE THESE 4 MISTAKES AT RETIREMENT

Make one of these mistakes and we can tell you your fortune I’m about to meet with Gavin who’s retiring from the company he works for. I’ve fought through Monday morning traffic to get here. Luckily, I’m 15 minutes early so I spend it studying the people who work here. All around people are rushing […]

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ONE ADVANTAGE OF OWNING A RETIREMENT ANNUITY

There’s very little an individual can claim from tax nowadays! So what can you claim from tax? In no particular order and depending on the type of income you receive: • Contributions to a pension or provident fund • Contributions to a retirement annuity • Donations to approved public benefit organisations • Legal expenses relating […]

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CAN YOU AFFORD PRIVATE SCHOOLS?

I can remember my dad telling me to study so I didn’t end up working in a factory like him. Now there’s nothing wrong with working in a factory, but who still wants to do that at 65? I also remember plain as daylight, telling him I didn’t need the education because I was “going […]

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WILL YOU BE 50% RICHER OR POORER IN 5 YEARS TIME – TAKE A GUESS

How many years you reckon it would take to double your investment? Look no further than the rule of 72. Let’s say for argument’s sake, you invest R10, 000 at 8% per annum in a fixed term deposit at your bank. But you want to cash it in once your R10, 000 turns into R20, […]

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IS YOUR RETRENCHMENT PACKAGE TAX-FREE?

You’re not quite ready for retirement and you’re about to be retrenched. How will you be taxed? Business had been bad for a few years now. As Rob looked around the office, he remembered the various names and faces who had sat at each of the empty desks. But Rob was comfortable, much like the […]

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TAX-FREE SAVINGS ACCOUNTS – CLEARING UP ANY CONFUSION

A couple of weeks ago we wrote an article on the Old Mutual Tax-Free plan. In that article we recommended you speak to an Old Mutual advisor before investing. We received a lot of feedback from our readers especially around the annual and lifetime limits. We decided to do a second article clarifying this. But […]

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TAX-FREE PLAN – FOLLOW THESE RULES

Is there any type of investment – with tax benefits similar to a retirement annuity – which allows you to cash in whenever you want?   A retirement annuity has always been the preferred way to get something back from the taxman. It still is…if you earn enough to have a tax problem. But one […]

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IS YOUR RETIREMENT LEAKING MONEY?

What would you do if someone pointed out that your petrol tank was leaking? The first thing I’d do is plant a big fat wet kiss on their cheek and then I’d run to my mechanic (Actually on second thoughts I’d drive my car to my mechanic!). And all the way I’d be thinking two […]

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RETIREMENT ANNUITY OR TAX-FREE SAVINGS ACCOUNT

 What would the average South African prefer doing – Saving for a rainy day or splashing out on a new smartphone? Buying the smartphone, of course. What did you think? So can you imagine the dilemma facing government when it came to encouraging people to save? “How are we going to encourage the man in the street […]

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ARE ALL YOUR INVESTMENT EGGS IN ONE BASKET?

If you had to put all your eggs in one basket, would it be in an endowment or unit trust? Would it surprise you if I said it doesn’t make a difference? Let me explain why I’m writing about this. A couple of days ago I got a call from someone resigning their job. I mentioned the option […]

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CAN YOU STILL AFFORD TO SEND YOUR CHILD TO UNIVERSITY?

Like you, I want my child to do better than me in life. So I’m trying to have a chat with him about having goals in life and finding his calling in life sooner rather than later. I start off by asking him a question: “So what do you want to do when you leave […]

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WILL YOUR LIFE INSURANCE COMPANY ‘HUM’ AND ‘HAH’ AT CLAIM STAGE?

Every month you pay your life insurance policy on time – no complaints. But what happens when the shoe is on the other foot – when it’s time for them to pay you? Before I could publish this post… It’s also particularly relevant for us right now because on the 12 October 2017 we submitted […]

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WHY IS EVERYONE BANGING ON ABOUT DISCOVERY LIFE?

From what we can see, Discovery Life is built on one fundamental pillar: • Look after us by looking after yourself Understand this concept when buying life insurance, and you’ve bought the most innovative life insurance product in the SA market (perhaps even globally). Misunderstand, and you could be making one very expensive mistake! Let’s […]

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HOW TO GET 100% OF YOUR CAR & HOME INSURANCE PREMIUMS PAID BACK WITH DIALDIRECT

Who doesn’t want to get a refund on their car and home insurance premiums? Imagine you could get up to 100% of your car and home insurance premiums paid back to you. Is that even possible? With Dialdirect it is, so let’s have a look at their Payback programme in more detail. First off, their […]

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IS A FUNERAL BENEFIT AUTOMATICALLY INCLUDED IN MY LIFE INSURANCE POLICY?

When you pass away your spouse is going to need some instant cash for a funeral (like in 72 hours). The problem is that life insurance pay-outs take a little longer than a day or two to finalize. So what now? How does your spouse get their hands on quick money and shouldn’t your life […]

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GET OLD MUTUAL FUNERAL COVER FROM R31 PER MONTH AND DO IT ALL ONLINE

Jeez, the guys at Old Mutual have crammed a lot of value into a funeral plan range, starting from R31 per month. Losing a loved one is never easy, right? During your time of mourning, you should be able to reflect and remember all the things that made that person special, without having to worry […]

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TOO MANY PEOPLE THINK THEY CAN RIP YOU OFF AND GET AWAY WITH IT

And there are two reasons for that: One, we don’t know the law, and secondly lawyers often cost more than the actual loss you’ve suffered So what does that have to do with getting ripped off?  Because they know we’ll moan and groan and then drop the issue. Take my next door neighbour for instance. […]

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5 MISTAKES YOU COULD MAKE WITH YOUR CAR INSURANCE

A stolen smartphone isn’t the end of your world, but could you say the same when it comes to your car? “Damn insurance company. Should have known they’d come up with some reason not to pay. I knew that it was too good to be true!” A week earlier Gerald had bought his first car […]

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9 FREQUENTLY ASKED FUNERAL COVER QUESTIONS

Have you ever looked at an offering and wondered if it’s actually worth spending the money? Funeral insurance can be one of those ‘I’m still on the fence’ type of products, right? It’s marketed aggressively, so we’ve all heard our fair share of funeral cover pitches on the radio or TV. But is it something […]

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YOU’VE BEEN LIED TO YOUR ENTIRE WORKING LIFE – THIS IS THE WAKE UP CALL

Let me explain… Since you left school you’ve been chasing the dream of financial freedom.  The dream of: Working hard, Getting promoted, Earning tons more money, and Finally achieving financial freedom. But the truth is that the system is geared to eat you up alive. The plan is to milk you for as much as […]

Posted in Insurance, Money Matters | Tagged , | 1 Comment

WHAT HAPPENS IF YOUR DOMESTIC WORKER DIES?

Is Their Problem Your Problem? Your domestic worker takes care of your family.  For some families, she really is part of the family.  What would happen to her family if she were to die?  Do you care?  Should you care? Put yourself in this situation Just after eight the doorbell rings. “Who is it?” “Joseph” […]

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