Insurance Facts

2

Why you need a life cover?

why do you need a life cover?

Unlike funeral cover, life cover covers you and your loved ones in case of life’s misfortunes. While funeral cover only serves you when it comes to death, life cover can be taken against accidents, disability, illness and loss of income.

Without taking away from the necessity of funeral cover, let’s discuss why life cover is necessary for you and your family.

2

Funeral Benefit

Like funeral cover, life cover offers a lump sum benefit that is to aid in the case of death. This is to cover all or most of the costs that come with a funeral, and the payout is tax-free, ensuring full benefits for beneficiaries.

1

Monetary value

Over time, with consistent payments of premiums and minimal claims, you can enjoy the monetary benefits of your life cover. Most companies have a “money back” policy, which guarantees that you receive a portion of your premiums to supplement everyday costs or for you to use as you like.

Planned estate

With the establishment of a life cover, you can control and mitigate the use of the payout. Companies give policy holders an opportunity to select their own beneficiaries, therefore how the payout money is distributed lies solely on you. This minimizes conflict and ensures that funds are shared appropriately.

Affordable

When it comes to price points, policies are generally affordable. Premiums are influenced by factors such as the number of members covered, age range and added benefits, tailored to fit you. Policies can range from as little as R100 per month, for cover up to R100 000.

Peace of mind

Knowing that you and your loved ones are protected from any financial strain in the event of misfortune is enough to rest your mind. Without the hassle of trying to figure out how to recover financially, recovery of any other form is easy and ess stressful.

Contact Esurity Financial Services for the best value in life cover and make sure you and your family are protected from life’s everyday expensive tragedies.

funeral

Why you need a funeral cover?

why do you need a funeral cover?

No one likes to talk about death, especially not the details that will require the most money, funerals. The National Funeral Directors’ Association has estimated a basic funeral to cost you R10 000, and this without the additions that will make the final goodbye to you or loved ones a dignified one. Let’s take you through why you and your loved ones need to consider funeral cover.

funeral

Financial security for you and your loved ones

Funeral cover provides financial security for you and your loved ones in the event of death. The lump sum, contributed towards by the premiums you pay, can be used to pay for funeral expenses, debts, and other expenses. When taking funeral cover, you are guaranteed a predetermined amount that will not affect your personal budget.

funeral 2

Immediate payout

The whole idea of a funeral (or financial cover in general) is to supplement money when needed urgently. With a lumpsum payout period of within 48 hours (about 2 days) of death, families are able cover the immediate expenses associated with a funeral in the family.

Affordability

Funeral cover policies are affordable, with premiums starting from as little as R100, you can cover your loved ones. A small monthly investment that will help avoid years of funeral debt.

Immediate payout

The whole idea of a funeral (or financial cover in general) is to supplement money when needed urgently. With a lumpsum payout period of within 48 hours (about 2 days) of death, families are able cover the immediate expenses associated with a funeral in the family.

Flexibility

Funeral covers are made to tailor to each client’s specific needs. These options allow you to choose what kind of cover you will need based on your individual profile. You can choose how many people to cover, how much they cover and which benefits

ProTip: Contact Esurity Financial Services

ESURITY FINANCIAL SERVICES offers funeral cover deals that are sure to fit you and your loved ones. Being protected against the financial and emotional wrath of death is important, and should you take our funeral cover plan, we will ensure that you don’t worry about funeral expenses. The Funeral Plan is backed by Hollard, which ensures that you and your family are protected against unforeseen circumstances.

1

Your budget wont cover that crash

Your budget wont cover that crash

1

In South Africa, an estimated 70% of all motorists are uninsured. If this is you, here’s why you need to reconsider.

Financial Protection

In the case of an accident, damage or theft, you can rest assured knowing you won‘t cover expenses from your own pocket. A car is already an expensive asset to own, the financial burden should not have to fall on your shoulders alone.

Coverage for liability

Accidents happen and who’s to say you won’t be the one responsible for damaging someone else’s vehicle? This is where insurance steps in to save the day. With car insurance, third party costs are covered, depending on your cover benefits.

Peace of mind

As a car owner, you are never relaxed. Being a skilled driver does not guarantee you safety on the road, but with car insurance, you can rest assured knowing that you have planned.

Protip:

Esurity Financial Services offers you with peace of mind that your car’s risks are covered from any theft, accident or unfortunate weather condition, you will be able to cover your family’s most valuable assets.

2

sdfdc

What is financial literacy?

What Is Financial Literacy?

sdfdc

Financial literacy relates to the ability to understand and effectively convey various financial skills, including personal financial management, budgeting, and investments. In this blog post, we answer the small but fundamental frequently asked questions that relate to financial literacy as a concept and a practice

The topic of financial literacy should not be uncomfortable, here are some commonly asked questions and their answers. Let’s get you started.

What is financial literacy?

Financial literacy is the understanding and management of personal finances effectively. This process requires one to know financial concepts, such as budgeting, saving, investing, and credit management, and the skills to apply these concepts to make informed financial decisions.

What is a credit score?

A credit score is a numerical representation of your credit standing. When calculated, your credit history, including your payment history, credit use, length of credit history, and types of credit used are considered. A higher credit score indicates that you are more likely to repay your debts on time.

What is a budget?

A budget is a financial plan that helps account for your income and spending over a specified period. It assists with tracking your spending, prioritizing your expenses, and avoiding overspending. A budget can help you achieve your financial goals, and that’s why it is an important factor in financial literacy.

Now that we have looked at and answered your basics, what can you do to improve or start practicing financial literacy? We have a few starting points for you below.

Create a budget

A budget is a plan that helps you track your income and expenses. It can help you identify areas where you can cut back on spending and save more money. You can use a spreadsheet or a budgeting app to create a budget that works for you.

Pay off high interest debt early

This helps you track your income and expenses by identifying where you can or need to cut costs or spend less money. There are many guidelines to creating your own budget available for you.

Start saving for retirement early

The earlier you start investing or saving for your retirement, the more interest you accumulate. This helps make more money out of not just the money you’re currently working for, but also the money you’re currently saving.

sdfsdfdc

PROTIP:

Esurity Financial Services offers customers a wide range of consumer education programs that focus on financial literacy. By offering this service, we hope to enable individuals, communities and organizations to better manage their financial obligations in their personal and professional capacity. Contact us today to learn more about our financial education program.

Based on the above mentioned financial literacy FAQs and their answers, financial literacy is an essential skill for everyone. When we understand financial concepts and practice them as habits, we can make informed financial decisions while also avoiding debt and achieving personal financial goals. Follow Esurity Financial Services for more beginner friendly, money wise conversations.