We’ve reached the final instalment of our mini insurance podcast series in partnership with life insurer FMI.
Over the last couple of week I’ve chatted with, personal finance expert Mapalo Makhu and Brad Toerien of life insurer FMI, in what has been a fascinating series of discussions on life insurance.
Let’s recap. In our first chat, we talked about the insurance gap: why so many South Africans don’t have enough insurance, and what we as an industry can do to rebuild trust and get people buying the cover they really need.
Then we talked about taking an Income First approach to insurance, instead of the traditional approach of life insurance, with life cover and lump sum. Bottom line: the most important part of financial planning is protecting your hard-earned monthly income against the risk of any injury, illness, critical illness and death.
In our third podcast, we talked about the concept of life stages, and how your insurance needs change as you move through life and your responsibilities and priorities change.
Finally, in our last chat, we talked about insurance fraud – and how actual fraud isn’t the real problem, it’s non-disclosure of important information and over-claiming benefits.
So in this final episode of the series, we thought we’d sum up what we’ve talked about so far, and touch on a couple of points that have come up in between.
Listen to Episode 5 below:
In case you missed the previous episodes: