A financially well individual is a person who has a clear understanding of their current financial situation and has plans in place to prepare for future financial changes. Iemas Insurance Brokers’ view of holistic financial health is based on four pillars, namely: securing your future, securing your family, securing your belongings and securing your business.
According to the Automobile Association of South Africa, there are currently 11.4 million registered vehicles driving on South Africa’s roads, of which between 65% and 70% are uninsured. In addition, ReportBuyer found that more than 40% of South Africans do not have a formal life insurance policy.
“An individual might reason that they are saving by not paying a monthly insurance premium. However, if such an individual is involved in a car accident or, even worse, unexpectedly becomes disabled or passes away – their loved ones will suffer dire consequences” says Piet Wolmarans, Managing Director at Iemas Insurance Brokers.
Wolmarans goes on to say that “a lack of financial education remains one of the principal reasons as to why South Africans tend to disregard the importance of insurance, whether it be short or long-term insurance. As many South Africans do not receive any form of financial education at school or at home, the onus is on us as financial services providers to educate clients in understanding the value of financial wellness and to ensure they are familiar with the many affordable product offerings available to support them on their journey towards holistic financial wellness.”
Iemas Insurance Brokers (Pty) Ltd is an authorised financial services provider and a wholly owned subsidiary of Iemas Financial Services. The company prides itself on providing a holistic 360° insurance portfolio which includes the four pillars of financial wellness, namely:
- Securing your future with various savings and investments plans.
- Securing your family with funeral, life and disability cover, education plans, wills and estate planning.
- Securing your belongings with comprehensive short-term insurance solutions for vehicles, home content and buildings.
- Securing your business, should you be a business owner, with various insurance cover options such as fleet insurance managements, professional indemnity, public and employers liability to only mention a few.
National Wills week, which happens every September, highlights the importance of taking care of one’s financial wellness, even for when you are no longer here. “As per the very famous Benjamin Franklin saying, the only certainty in life is taxes and death. Thus, plan today to secure your family’s future tomorrow! Contact your financial services provider to draw up or update your will and to ensure your estate planning is in order” concludes Wolmarans.