In a country such as South Africa, with some of the highest crime rates in the world will not have anyone living here without being adequately insured. Insurance in South Africa simply remains one of the best ways to guard you and your family’s quality and way of life. It should not be seen as throwing money into an endless pit, but regarded as an investment. Preempting the challenges you as a homeowner face is the responsible way of going about protecting your investment. In a time where consumers find themselves in an uncertain economy with increasing living costs, to be faced with uninsured stolen or damaged property just does not deem thinking about, as many people wouldn’t be able to recover from taking such a knock. It is thus important to invest in adequate insurance to financially secure you and your family’s future.
Insurance companies are quite literally fighting for market share in South Africa, and for consumers’ valuable business. Some people may find it somewhat overwhelming sifting through all the hyped up promises of the various companies. Due to all the competition in the industry, players in the industry of insurance in South Africa have had to reinvent itself in order to remain competitive. This has been done through creating value added services to their product ranges. This has also become standard with most insurance companies nowadays. If your insurance company does not offer you value added services like household call out services or roadside assistance, you should seriously consider whether this company has your true best interests at heart.
There are numerous insurance products available on the market, which are geared at meeting the needs of a wide variety of clients. Life insurance policies act as insurance for an individual’s life. Insurance companies will pay out an agreed upon amount to the beneficiaries in the event of the insured’s death. This payout will be paid out to the beneficiaries either in an annuity, or in a lump sum. A limited explanation of medical insurance means that the insurance company will cover the cost of the insured’s medical treatment. Disability insurance in South Africa is straightforward. In the event of a disability, financial support will be provided by the insurance company on a monthly basis if the insured is unable to work anymore due to injury or illness. Total disability insurance will payout should the insured become completely disabled. Other insurance in South Africa includes home, vehicle, property and business insurance.
