![]() The International Travel Benefit offers medical emergency cover outside the borders of the Republic of South Africa to members for members on different medical aid plans. What is covered? The provider pays claims for emergency medical and related expenses, while on an insured journey, to the provider of the medical expenses. Cover is: Provided for up to 90 days per trip, irrespective of the number of trips made during the year Limited to R5 million per person up to a maximum of R10 million per family Subject to certain exclusions (such as pre-existing conditions and certain sports activities) The following is covered: • Emergency medical expenses • Medical evacuation and transport • Hospitalisation • Out-patient and in-patient treatment • Optical and dental expenses • Mandatory vaccine expenses • Travel assist services • Emergency telephone charges. • Limits, terms and conditions apply. These are outlined in the policy wording and documents. How to make sure you’re covered? Contact your medical aid provider to activate your international travel cover when you are planning to travel out of the country. Read the policy document carefully to ensure that you understand all the terms and conditions. To activate your International Travel Benefit cover please contact Namhla in our Health Department [email protected],tel (011)658 -1333 Source: Bonitas
0 Comments
![]() The other day while driving we noticed a huge advert which indicated that cheap insurance price is the way to go”. Now, three short-term insurance brokers seated in one car can create some interesting conversation. I was the first one to pipe up saying that of course that is simply not true. Next, I said that unfortunately a large portion of our buying public thinks in the same way. I will explain to you why this is the case. Three months ago, someone approached us for insurance quotes for his motor vehicle, following a shocking discovery on his existing policy with another insurer. His car is currently the most popular German hatchback in South Africa, read: a perfectly normal new car. What he discovered was that he had a basic excess (also known as first amount payable) of R27500!!! He was paying a super cheap premium for a month with them. He supplied a copy of his policy to us and I can tell you that the excess is displayed on the second last page out of many pages, almost as if they are trying to hide it from the client. Thank goodness, he discovered this fact before he had any claim. Here comes the equally (if not more) interesting part: the client subsequently took out a policy through our brokerage, paying approximately 65% more in premium. How many clients are willing to pay more for… less? This client certainly is. Less excess that is. Now: please tell me Does price really rule? Let’s say the client had an accident with damages totaling let’s say R35000 (the cost of a perfectly normal repair job in SA… for a small accident). Would he have got anything worth claiming for back from his old insurer? Off course not. This brings me to a conclusion that what matter most is that the client is covered and come claim stage it is affordable. Now let’s say it all together, Let’s say it all together now: Price does not rule but Cover rules! To get a comparative quote done please contact Jan in our Short-Term Department email [email protected], tel (011)658 -1333 Source: Jan Prinsloo (Daberistic Short-term Broker) It is important to understand the key difference between investing and saving. I use a table below to highlight the key differences.
According to Investopedia.com, Speculation is the act of trading in an asset or conducting a financial transaction that has a significant risk of losing most or all of the initial outlay with the expectation of a substantial gain. With speculation, the risk of loss is more than offset by the possibility of a huge gain, otherwise there would be very little motivation to speculate. To read more on speculation, http://www.investopedia.com/terms/s/speculation.asp There are some notable speculations in history. It serves us well to learn from these examples, so that individually we don’t repeat the mistakes of the past. The FIRST example is the Tulip Mania in Europe in the 17th century. As the flowers grew in popularity, professional growers paid higher and higher prices for bulbs with the virus, and prices rose steadily. By 1634, in part as a result of demand from the French, speculators began to enter the market. The contract price of rare bulbs continued to rise throughout 1636, but by November, the price of common, "unbroken" bulbs also began to increase, so that soon any tulip bulb could fetch hundreds of guilders. That year the Dutch created a type of formal futures market where contracts to buy bulbs at the end of the season were bought and sold. Tulip mania reached its peak during the winter of 1636–37, when some bulbs were reportedly changing hands ten times in a day. No deliveries were ever made to fulfil any of these contracts, because in February 1637, tulip bulb contract prices collapsed abruptly and the trade of tulips ground to a halt. At the height of the craze, a tulip bulb could fetch 5 hectares of land! The SECOND example of speculation is the Roaring Twenties stock-market bubble in the US. From 1924 to 1929, the Dow Jones Industrial Average stock market index went up from 100 to almost 400, effectively up 300% in the space of 5 years. The market then crashed, with the index going down all the way to 30 in 1932 before recovering. The THIRD example of speculation is the more recent Dot-com bubble. The dotcom bubble occurred in the late 1990s and was characterized by a rapid rise in equity markets fueled by investments in Internet-based companies. During the dotcom bubble, the value of equity markets grew exponentially, with the technology-dominated NASDAQ index rising from under 1,000 to more than 5,000 between 1995 and 2000, representing 450% return in 5 years. Then it crashed all the way to 1,200 in 2002. It took 16 years for the NASDAQ to reach this high again.
Read more: Dotcom Bubble http://www.investopedia.com/terms/d/dotcom-bubble.asp#ixzz4rZSKg0hn In Support of Financial Planning Institute's forthcoming Financial Planning Week from 2 - 8 October, as well as The Big Drive 4 Financial Freedom, I have decided to use this platform to share contents from my book on Investment Options. Starting from today, each weekday I will share a snippet, in promotion of financial freedom.
Follow me and learn with me! The Concept of Investing: According to Investopedia.com, Investing is the act of committing money or capital to an endeavour with the expectation of obtaining an additional income or profit. Simply put, instead of spending your money now, you put money away. You invest money for a period of time. After that period of time you expect to get more than what you put in, as you should profit from investing. Example: Bongani invests R10,000 for five years in a unit trust. After 5 years he withdraws his investment and gets R16,000 back. He made a profit of R6,000. |
AuthorKevin Yeh Archives
January 2025
Categories
All
|