I came across a 76 year old lady this morning who was sold a 10 year endowment at the age of 71 (through Old Mutual Horizons) for R10000 per month (yes, ten thousand rand!). 5 years later her situation has changed, she cant afford the premium anymore and needs to make a change…surprise, surprise, she [...]
Saw the TV advert for 1life direct recently…watch out, the cover they are offering is incredibly expensive. Far from cutting out the middle man and therefore being cheaper, it is significantly more expensive than you could get even if you went through a broker who was charging full commission.
For example: A quote from 1life direct [...]
Continue reading about Be wary of 1life direct’s advertising campaign…
As a follow up to the post on cutting out the middle man, I thought I would write about another case of “half-truths” from insurance companies.
About 6 years ago, I was at a financial planning conference where the issue of fees and commissions was being discussed by a panel. One of the panel members was [...]
I recently received a marketing offer from 1lifedirect to take out some life cover directly through them, thereby cutting out the paperwork, expensive medicals, the broker and therefore the commission. All of this, they promised, would save me up to 22% on the premiums.
Having seen their rather funny TV adverts and being the curious sort [...]
Continue reading about Sometimes cutting out the middleman just leaves a gaping hole!
It’s so easy to save money!
One of the “compulsory” forms of insurance that people with bonds have to have is Home Owners Insurance – this is insurance that covers the cost of replacing the building if it is destroyed through things like fire and floods. Usually the bank that provides the bond also very kindly [...]
