Be Financially Smart with FNB

Why expert insurance advice can make a real difference

Insurance can be complicated. Business insurance, car insurance, home insurance, life insurance, short-term insurance and medical aid and the list goes on. However, the reality is you can't afford to make mistakes when it comes to choosing the right cover says FNB's Head of Consumer Education Program Eunice Sibiya.

To help you through the complexity of your insurance needs, it may benefit you to speak to a professional financial adviser. Getting expert advice, especially for complicated insurance matters could be one of the smartest financial moves you make.

A good insurance broker is able to build strong relationships with their clients by accurately assessing their insurance needs before selling them any products. They offer professional advice and source the best insurance deals that deliver on client expectations.

Here are a few things you can do to ensure that you find the right broker:

Make sure you can trust the broker

Don't just accept the first broker you meet. Their affiliation and reputation are critical. Who do they work for? Are they a reputable financial institution or self-employed? Conduct an interview to assess whether the person understands your needs and if you can trust them.

Be open and honest about your financial situation

Once you find the right broker, share all your relevant financial information openly and honestly. This will help you to find the right level of insurance cover for your individual needs.

Ask if you don't understand

If there are terms and conditions in your insurance contract that you don't understand, ask the insurance broker to clarify these issues.

Get your Last Will and Testament in place

While drawing up your long- and short-term insurance contracts, make sure that you get your Last Will and Testament in place. This is your opportunity to ensure that your money is paid to the right beneficiaries according to your wishes.

Regular / annual updates

Finally, speak to your insurance broker at least twice a year and update your insurance policies to meet any changes in your lifestyle - Like a new child being born or new assets added to your home.

Listen to the full interview below:


Recommended

by NEWSROOM AI

702 welcomes all comments that are constructive, contribute to discussions in a meaningful manner and take stories forward.

However, we will NOT condone the following:

  • Racism (including offensive comments based on ethnicity and nationality)
  • Sexism
  • Homophobia
  • Religious intolerance
  • Cyber bullying
  • Hate speech
  • Derogatory language
  • Comments inciting violence.

We ask that your comments remain relevant to the articles they appear on and do not include general banter or conversation as this dilutes the effectiveness of the comments section.

We strive to make the 702 community a safe and welcoming space for all.

702 reserves the right to: 1) remove any comments that do not follow the above guidelines; and, 2) ban users who repeatedly infringe the rules.

Should you find any comments upsetting or offensive you can also flag them and we will assess it against our guidelines.

702 is constantly reviewing its comments policy in order to create an environment conducive to constructive conversations.

Read More
Investing for retirement and the best time to start

Investing for retirement and the best time to start

How much time do you have left before your monthly income stops? The earlier you start saving for your retirement, the better!

How to juggle the stock market smartly for long-term investing

How to juggle the stock market smartly for long-term investing

The Azania Mosaka Show kicks off Savings Month with a discussion about stock markets and long-term investing.

Property investing as a good long-term investment

Property investing as a good long-term investment

FNB Expert Ester Osche discusses how to turn a property into a stable and rewarding long-term investment,

How to spot an investment scam from a mile away

How to spot an investment scam from a mile away

We've all heard stories of people falling victim to poor investment decisions. Here's what you need to look out for.

How to create that emergency savings bucket

How to create that emergency savings bucket

Head of Advisory Channels at FNB Esther Ochse takes a closer look at ways to help you learn to save and invest.

Managing the risk of over- and under-insurance

Managing the risk of over- and under-insurance

Do you know how much your assets are worth and if you're paying too much for your insurance cover? FNB Expert Eunice Sibiya weighs in.

Popular articles
From Cape to Cairo: 80-year-old Julia travels to Egypt using 20-year-old car

From Cape to Cairo: 80-year-old Julia travels to Egypt using 20-year-old car

‘It took approximately 4 – 5 months because I had to make some stops on the way for repairs.' - Julia Albu, the African Conquest

Madiba’s private secretary Zelda la Grange opens up about money (hers and his)

Madiba’s private secretary Zelda la Grange opens up about money (hers and his)

Bruce Whitfield interviews La Grange about her and Madiba's attitude to money (hopes and fears, successes and failures, etc.)

How to make money through ‘buy-to-let’ (using very little of your own money)

How to make money through ‘buy-to-let’ (using very little of your own money)

Bruce Whitfield interviews Francois Janse van Rensburg, author of “Making Money through Buy-To-Let in South Africa".

Retirement: 8 biggest mistakes people typically make…

Retirement: 8 biggest mistakes people typically make…

The Money Show’s Bruce Whitfield interviews Galileo Capital Financial Advisor Warren Ingram.

MTN Walk The Talk with 702: Get your entries in and be part of a united Joburg!

MTN Walk The Talk with 702: Get your entries in and be part of a united Joburg!

Join Joburgers from all walks of life come together peacefully, united in their diversity for a fun family day out.

3 easy questions could bag you R2000!

3 easy questions could bag you R2000!

WIN R2000! But only if you can prove you're a whiz of the MTN Biz Quiz by answering the following three questions...

Blesserfinder: Matching you with a sugar daddy near you

Blesserfinder: Matching you with a sugar daddy near you

Is social trend Blesserfinder, where girls are allegedly matching up with rich 'benefactors' in exchange for sex, a real thing?