commission Archives -

Personal Finance?

The article in Personal Finance this weekend re the high costs of investments (http://www.iol.co.za/business/personal-finance/financial-planning/investments/costs-are-wiping-out-real-returns-1.1036412) really got up my nose. And not for the reasons you might think. The article did not frustrate me because it “exposed” the truth about investment costs but rather because it is too easy to be negative about these things and …

DIY by all means, but…

I have long been an advocate of people doing their own financial planning. Far too many vested interests in the industry would have us believe that Financial Planning is too complex for individuals to do their own and that as a result they need the services of an advisor/financial planner. Bollocks I say. There is …

OUT is not In!

About 2 weeks ago I responded to an online advert by OUTsurance for Life cover at significantly reduced premiums (because they were cutting out the advisor and therefore the commission). Within “minutes” I received the following email from them acknowledging my request for a quote: “Thank you for requesting an insurance quote from OUTsurance! We …

Where has all the commission gone?

About 5-6 years ago the Life Offices Association (now ASISA) made the claim that up to 35% of the cost of new business was due to the commission paid on the products (http://www.busrep.co.za/index.php?fArticleId=2627965&fSectionId=552&nld=2005-07-18&t=html&f=d) and that was one of the reasons life insurance products were “expensive” and heavy penalties were levied when these were cancelled before …

1 Life direct – misleading advertising & so expensive!

Just saw the 1Lifedirect TV advert again this evening and it really gets my goat – their advert is so incrediblymisleading. It should come with a huge health warning similar to that on cigarette packets. They were offering a 44 year old male R1million life cover for just under R500 (if i remember correctly) and …

Commission free life cover…

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 …

Sometimes cutting out the middleman just leaves a gaping hole!

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 …

The Financial Coach

Personal Finance?

DIY by all means, but…

OUT is not In!

Where has all the commission gone?

1 Life direct – misleading advertising & so expensive!

Commission free life cover…

Sometimes cutting out the middleman just leaves a gaping hole!