Often, we experience setbacks that could have been avoided or lessened. To be truly #WalletWise means planning ahead, and this includes having insurance.
Don’t be caught off guard, and be left with a financial burden in the event of emergencies such as a car crash or burst geyser. Make sure that you have the right insurance policy that will cover the necessary damage.
What can you insure?
There are many different types of insurance to cover each specific need you may have. These include car, home, travel, funeral and credit life.
Car and home insurance
In the event of damage or loss, you can claim money from your insurer to repair or replace items without worrying about the costs. However, you must make sure that you can afford the excess on your insurance plan when deciding on the cover.
It doesn’t make sense to insure your possessions and leave yourself out. Insurance such as travel is essential, especially when you plan to travel overseas. Funeral insurance is also vital as it gives your family the chance to bury you with dignity and not worry about the costs, should you die.
Credit and debt
When you take out a loan or incur any other debt, be sure to take out credit life insurance. This will pay creditors directly in the event of your death. It can also be used to pay a limited number of instalments on loan if you are retrenched or become disabled.
DO YOU HAVE INSURANCE?