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Life insurance is not usually a hot conversation topic. It’s rather like a vaccination – you know you’ve got to have it, but you don’t bother to talk about it. And yet without it, your family could face financial ruin.
”Ek is in 2010 getroud met *Sumari. Dit was ons beide se tweede huwelike. Ons was finansieël onafhanklik van mekaar en het nie insae in mekaar se bankrekeninge gehad nie. Ons was beide 41 en het nie gedink dis dringend om na polisse en testamente te kyk nie, totdat sy kritiek in die hospitaal beland het vir drie maande.
An endowment policy is essentially a life insurance policy. However, it is the savings component that is usually top of mind rather than any coverage for death. The policyholder saves regularly through a controlled premium, and is able to realise a lump sum on the maturity date, provided of course, he or she has not died. In this way, endowment plans offer a disciplined way of saving money for future financial needs.
Saving is good. It’s always good. Saving for your retirement is more than good, it’s imperative. But oddly enough, people make more mistakes around their retirement planning than almost anything else. There are many slips you might make that lose you time and money along the way. Let’s have a look at what not to do when saving for your old age…