Secure your most important asset – your workforce

Secure your most important asset – your workforce

Iemas Insurance Brokers, authorised financial service provider (FSP 47563) and wholly owned subsidiary of iMasFinance, now offers 24-hour cover against injuries not covered by COIDA.

An organisation can only exist and grow if it has a strong workforce – supporting and developing the business no matter the challenges it faces on a daily basis. However, accidents happen and to ensure the continuation of day-to-day business and to secure a healthy and safe workforce (with minimal down time), an organisation needs all the help and support it can get,

To secure your business, Iemas Insurance Brokers has introduced a new product that covers injuries not covered by CODIA and offers against the following:

Augmentation

  • Acts as a top-up cover of the COID benefit for those that earn above the COID maximum payment limit (R 30, 236).
  • Provides augmented compensation for work-related disablement for death or disease.
  • Benefits enhancements to a maximum of R 7,5 million for employees earning above the COID limit.

Crime and Injury Commuter Journey

  • Provides cover in the event of death or disability due to an accident or crime while traveling between home and work.

Commuters

  • Covers employees for death or disability while commuting as a non-professional driver, passenger or pedestrian.
  • Provides stand-alone protection beyond the RAF.

COID International

  • Covers employees seconded outside of South Africa for longer than 12 months.

Riot and Strike

  • Provides employees with cover for injuries or death arising from riots, strikes, factional fights or similar disturbances.

Speak to an Iemas Insurance Brokers consultant about securing your workforce on 0860 102 383 or email us on sti.commercial@iemas.co.za. For more information about Iemas Insurance Brokers, visit www.iemasinsurnacebrokers.co.za.

Safety tips to keep your prized possession on the road

How to talk about money to your children

Enjoy more happy miles with your vehicle by using the below vehicle safety checklist:

  • Ensure that your car is completely roadworthy. Check the tyres, brakes, windscreen wipers and lights (headlights, fog lights and break lights);
  • Make sure that you have an emergency kit in your car, this will include: jumper cables, foldable reflective triangle, tow rope, emergency window hammer with seatbelt cutter and a basic first aid kit;
  • Make sure you have all the required tools for changing a tyre;
  • Get any window chips and cracks repaired as soon as possible;
  • Make sure your car licence disc and your drivers’ licence are both still valid;
  • Check your oil and water regularly;
  • When travelling long distances, have a second driver to assist with the drive time.
  • Make sure you have Insurance Assist with Iemas STI and that you save the number on your phone, to assist you during an emergency on the road.
  • If your car is making strange noises or if it feels like something is wrong with your car, pull off at the nearest petrol station, shopping mall or parking area where you feel safe. Lock your call and call the Insurance Assist provider (as per your insurance policy).

We offer affordable comprehensive short-term insurance for your car and home, buildings and personal belongings. Get up to 12 multiple quotes to choose from – our claims process is easy and efficient.  In addition to securing your belongings, we also secure your family and future with life cover, funeral cover, retirement plans, disability cover, education savings plans and more.

Speak to one of our consultants today, visit our website or download the app:  0860 102 383 | www.iemasinsurancebrokers.co.za.

You can never go wrong with having a valid Will in place.

Iemas Insurance Brokers expert talks Wills – what a valid Will is and why it is important to have one.

Charles Makondo National Sales Manager: Life Mass Market at Iemas Insurance Brokers, answers a few questions on Wills and the importance of having one:

Question 1: Why is it important to have a Will?

Charles: A Will is a very important document that we all need to have in place for when we are no longer with our loved ones. If you do not have a valid Will in place when you pass on, then your assets will be dealt with interstate and the state will appoint an executor on your behalf who will handle your estate.

The consequence of this is that your estate will not necessarily be divided and allocated as you would like it to be and the settlement of your estate could possibly take years. In addition, you also need a Will to specify who should take care of your children or dependents when you are no longer there. If you do not do this, the state will decide what will happen to your children. So, it is important to get a Will in place as soon as possible if you do not have one yet. If you do have a Will in place, it is important to review it annually.

Question 2: What are the requirements for a Will to be valid?

Charles: For a Will to be valid in South Africa it has to adhere to the requirements as set out in the Wills Act 7 of 1953. These requirements include that:

  • A person must be over the age of 16 years;
  • The Will must be in writing;
  • The Will must personally be signed by the Testator/Testatrix, at the bottom  the end of each page;
  • The signing of the Will should be witnessed by two competent independent witnesses, who sign at the bottom of each page.

However, many options that are specific to your estate that may be overlooked or legalities may not be taken into consideration if you do not have your Will reviewed by a testamentary specialist. These oversights may result in your Will being regarded as invalid which could lead to a costly legal exercise to rectify or for your Will to be contested after your demise.

Question 3: How does Iemas help your clients to draw up a Will and how much does it cost?

Charles: It is important to note that it is not necessary to be an existing client of Iemas, anyone can contact us regarding drafting their Will.  We have a partnership with a reputable specialist organisation that drafts Wills and keeps a physical copy on behalf of the client. The drafting of the Will and its safekeeping is free of charge.

Question 4: Are there any other documents one should have in place in case something unexpected happens to you?

Charles: We refer to a Life File which is basically a file with all your important documentation like your Will but also other documents like proof of all your investments, life insurance, your assets and liabilities, insurance policies, bank details, ID document copies, access to passwords and so forth. We have a very useful video on our YouTube channel where we explain what exactly you should have in your Life File. Your family will benefit greatly from this file, so make sure they know exactly where it is safely stored.

So don’t delay – act now, contact us today to give you and your family financial peace of mind.

Women doing it for themselves – useful financial tips to help you take control of our finances.

Useful financial tips

In celebration of women’s month, we share a few simple financial tips that you, as a financially independent woman, can implement as part of your journey towards financial wellness:

  • Take charge of your finances: Taking control of your finances and making important financial decisions is not always easy and it might seem easier to just pass this big responsibility on to your spouse or family member like a brother or father. However, you will feel more in control and empowered if you can manage your finances all by yourself.
  • Create a budget: A budget helps you to track your income and expenses so that you know exactly how much you earn and what you spend your money on. It also helps you to keep track of your debt re-payments so that you do not fall behind on re-paying your loan accounts. Remember to stick to your budget and to update it on a monthly basis.  
  • Where to save and where to splurge: It is not easy to cut expenses from your budget. Start by including your essential expenses (i.e. rent, medical aid, insurance, all your loan accounts). You can contact your financial service providers, to enquire about cheaper options available to you. In terms of your variable costs, such as groceries, list all the items you bought during the month and have a look at which items you can leave out of your shopping basket next month.
  • Invest wisely: Start investing wisely now and your future self will thank you for it. Make sure that you have a retirement annuity and investment plan. Iemas Insurance Brokers, a wholly owned subsidiary of Iemas Financial Services, offers various savings and investment plans (including retirement annuities) that will meet your needs and help you reach your goals.
  • Keep a Life File: A Life File contains all your important documents such as your Will, copy of your ID, investments, loan accounts, assets etc. Make sure that you keep your Life File up to date and in a safe place. Let your spouse or a family member know where you keep your Life File should something happens to you – your family will need this file with all your important documents if something unforeseen happens to you.
  • Start a side hustle: Want to make extra cash?Start by looking for opportunities online, there are many companies looking for part-time consultants or sales representatives. Think cosmetic brands, online tutoring or even your own side hustle like baking or repairing clothes.

Live Financially Well with Iemas Insurance Brokers

Speak to one of our consultants about comprehensive insurance solutions that you can trust and afford. From vehicle and home contents insurance to savings and investments, we might just have an affordable solution for you. Contact us on: 0860 102 383 or visit iemasinsurancebrokers.co.za.

Source: https://economictimes.indiatimes.com/8-money-tips-for-women-in-the-new-year/tomorrowmakersshow/70275040.cms

Vehicle insurance 360 – the added ‘extras’ you cannot afford to leave out of your policy.

Having comprehensive vehicle insurance is a must – especially when your vehicle is financed – as the vehicle has to be insured to protect both the financial service provider as well as you, the consumer against accidental damage or losses.  A basic vehicle cover will not be enough to prevent financial loss in case of an accident, theft or a breakdown. “Insurance has developed into a holistic product and service offering that gives consumers options to cover them in every event” says Lize Badenhorst, General Manager: Short-Term Insurance at Iemas Insurance Brokers.

Buying a new vehicle is a very exciting process, but also a huge financial commitment. Risky as it may be, many consumers take a short-term view and just take the basic insurance option and even worse, sometimes cancel their insurance policy a few months after the vehicle has been bought. “This is very dangerous as it puts both the consumer and the finance provider at risk. In addition, many consumers take basic or third party insurance which offers very limited cover. There are many different options that add a lot of value and have to be considered when taking out vehicle insurance. Covering your vehicle should not be an afterthought,” explains Badenhorst.

So what are the options?

Most consumers are familiar with comprehensive insurance and third party insurance. Comprehensive insurance covers the consumer for the damage to their own vehicle as well as the damage to the other vehicle (third party), it also covers the vehicle in the event of a fire or theft. Third-party insurance only covers the damage to the other vehicle, however fire and theft cover can be added on. The value added or additional cover options that consumers often forget about includes car hire, shortfall cover, roadside assist, own vehicle damage/loss, mechanical breakdown cover, excess waiver and tyre insurance.

“Car hire seems like a ‘nice-to-have’, however how do you get around when your vehicle is being repaired or being serviced? Our clients have the option to hire a vehicle for 30 days or 60 days – you never know when you will be involved in an accident and sometimes the damage takes a long time to repair” says Badenhorst.

When financing a vehicle, the financed amount is often more than the retail value, which means that the shortfall (difference between the financed amount and retail value) needs to be covered. This is a very necessary product as many consumers do not take this into account when they finance a vehicle.

Roadside assist is the product you always wish you asked your broker to include in your policy when you are stuck next to the side of the road” says Badenhorst. Roadside assist includes anything from petrol supply when you run out of petrol, to towing your car when it breaks down (mechanical breakdown). It is important to know exactly what your roadside assist includes and to save the number on your phone when you need it most.

Mechanical breakdown cover, is different from roadside assist in that it is not a value added service but rather a product that covers your vehicle for any mechanical malfunction or breakdown when your manufacturer warrantee expired. “Warrantees expire, so it is important that you include this in your policy for when the warrantee is no longer valid”, says Badenhorst.

Another all-important insurance cover product that comes in handy when you need it – even when the accident was not your fault – is excess waiver. In most cases, a shortfall amount is required when you are involved in an accident. This is the amount that is not covered by your insurance policy, however if you have excess waiver insurance, you will not have to pay the excess out of your own pocket.

We all know how expensive tyres are and many of us are not aware that most insurance products do not cover damage to your tyres alone. This is where tyre insurance come in; it covers you for any damage to your tyres including damage from dreaded potholes where the vehicle itself was not damaged and not covered by your underlying policy.

“Vehicle insurance is not a one size fits all and sometimes it can seem quite complicated as there are many options available. However, it is advisable to discuss all the above-mentioned options with your broker to make sure that you are not caught off-guard and under-insured when something happens to your vehicle” concludes Badenhorst.  It is therefore very true with insurance, not to reduce your cover during hard times as it may just be a penny wise, pound foolish decision. 

Holiday safety is more than just locking up and being vigilant

Holiday safety

It is no secret that the holiday period presents an opportunity for criminals to take advantage of holiday goers. According to the South African crime statistics for 2020 released by Stats SA and the South African Police service, a total of 18 162 car-jackings and 205 959 burglaries at residential premises were reported last year.

How can you protect yourself against theft?

Lize Badenhorst, General Manager: Short-Term Insurance at Iemas Insurance Brokers states: “Unfortunately you cannot do much about criminal activity. However, you can protect your possessions. Even if you have an alarm, beams and cameras to protect your home, criminals can still find a way to de-activate these security systems. What also happens is that they follow you home and carjack you just as you arrive at your property – no security system can protect you from that. If you happens to suffer such an incident, then at least all will not be lost if your short-term insurance is in place and up to date”.

How can you adequately secure your possessions?

Having insurance is as important as having medical aid – especially when it comes to protecting your home over the holiday period. However, very few people understand what comprehensive insurance means, which often leads to confusion and frustration when it is time to claim. “It is important to understand what exactly you are covered for and what other options are available to you. There are insurance products available that provides insurance against holiday scams and money lost through holiday scams.” says Badenhorst.

Which items do you have to include in your home contents insurance policy?

All the items that would fall out if you had to turn your house upside down, are the items that needs to be covered under your household contents insurance policy – and then at the current replacement value. So, if you only include certain items in your policy, neglect to update the value of the items in your policy to reflect their current value, or forget to add new items you purchased since taking out the policy, then your insurer might not pay out the amount you need to replace all your items. “There are also certain items that needs to be specified in your policy such as cellphones, jewelry, laptops and tablets. However, your broker can advise you which items needs to be specified” says Badenhorst.

What about insuring your family?

If something happens to you, your family will not only suffer emotionally but also financially if you did not plan and provide for them. “People often neglect to cover their family. If you do not have a Will in place, the government will become your executor and if you do not have life or funeral cover, your family will have to find their own means to carry on. This is very difficult, especially in circumstances where there are children involved” advise Charles Makondo, National Sales Manager: Life Mass Market at Iemas Insurance Brokers.

“This upcoming long weekend provides for a very exciting break for everyone, even if you stay at home. Just make sure that the things and people you love are covered against any event” concludes Makondo.

Long weekend safety tips: How to stay safe while still having fun in the sun.

Long weekend safety tips

We all deserve a good break, but not at the cost of our health and safety. As we look forward to the upcoming long weekends, we share a few tips to keep you safe and healthy:

Home Safety Tips:

  • Inform your security company that you will be going away so that they can keep an eye on your house;
  • Before you leave your house, make sure that all the windows and doors are closed and locked-up.
  • Install a timer to switch lights on and off while you are away;
  • Unplug all unnecessary appliances such as the TV and kitchen appliances, as well as switching off the geyser;
  • If possible, ask someone you trust to come to your house while you are away so that there can be movement in and around the house;
  • If you have done renovations in your house or bought new items, it is always important to inform your insurer and update your cover
  • Ensure that your home content insurance is always up to date so that when you have to claim all your items are covered;

Vehicle Safety Tips:

  • Ensure that your car is completely roadworthy. Check the tyres, brakes and windscreen wipers;
  • Make sure that you have an emergency kit in your car, this will include: jumper cables, foldable reflective triangle, tow rope, emergency window hammer with seatbelt cutter and a basic first aid kit;
  • Make sure you have all the required tools for changing a tyre;
  • Get any window chips and cracks repaired before travelling;
  • When travelling long distances, have a second driver to assist with the drive time.
  • Make sure you have Insurance assist with Iemas STI, to assist you during an emergency on the road.

Health Tips:

  • Keep spare masks and hand sanitizer in your car and luggage;
  • Make sure that when you dine out, the table, menu, cutlery and condiments are sanitized;
  • When you shop, sanitize all items that you bought and keep a safe social distance at all times;
  • Make sure that your holiday accommodation is sanitized and cleaned regularly.

Iemas Insurance Brokers offers affordable comprehensive short-term insurance for your car and home, buildings and personal belongings. We can give you up to 12 multiple quotes to choose from and our claims process is easy and efficient.  In addition to securing your belongings, we also secure your family and future with life cover, funeral cover, retirement plans, disability cover, education savings plans and more. Iemas Insurance Brokers is an authorised financial service provider (FSP 47563) and wholly-owned subsidiary of Iemas Financial Services. Speak to one of our consultants today, visit our website or download the app:  0860 102 383 | www.iemasinsurancebrokers.co.za.

Source: https://zululandobserver.co.za/240002/safety-tips-to-follow-before-you-go-on-holiday/


Planning for your child’s education in 2021 – is it really worth it?

Charles Mokondo

With schools opening and closing throughout last year and the opening of schools delayed to 15 February this year, it is difficult for parents to plan and make decisions regarding the future of their children’s education. Some parents might consider home schooling as an affordable, perhaps more safe or convenient option, while others feel it is better for their child to repeat last year’s grade. In addition, tertiary education is expensive; according to Old Mutual a BCom degree cost as much as R 76 300 per year in 2018/19 at the University of Stellenbosch[1]. What to do from a financial planning point of view? Charles Makondo, National Sales Manager at Iemas Insurance Brokers answers a few questions about investing in your child’s education and why it is so important.

Should parents still invest in their children’s tertiary education?

Yes most definitely. As the saying goes, “this too shall pass”. Not saving for your children’s tertiary education will do more harm than good in the long run. While it might be tempting to do so to save money, it will make it difficult for you to ‘catch up’ on saving. My advice is keep saving for their tertiary education even if you decide on cheaper online high school or tertiary education, the return on their earnings potential will be worth it in the long run.

Is this financially possible during these uncertain times?

If your financial situation changed and it is difficult for you to save for their tertiary education, then you will have to consider alternatives without compromising their education. One option is to cut school fees by moving them to a more affordable school, online schooling or to home school your children. There are many savings and educational plans available – even from as little as R 250 a month; you can afford to save for your child’s tertiary education or you can also opt for a tax free investment.

What if I lost my job and cannot save for my child’s education anymore?

Fortunately, education is an ongoing journey. If you cannot send your child to university or college straight after matric, then they can always take a gap year and even get a job to save up for their tertiary education or study part-time. There are also various loan products and bursaries available – speak to your financial service provider about study loans and contact the tertiary institution your child wants to enrol at regarding bursaries.

What else can parents do to support their children?

Apart from planning financially for your child’s future, it is important to also provide them with emotional support. It is as hard for them (or perhaps even harder) to adapt to the uncertainties and ‘new normal’ that we are currently facing. Make sure that you create a routine for a sense of stability and security and also remember to have fun and make the most of their childhood. You can also make use of counselling support that is free of charge. Iemas, in partnership with Global Choices, offer counselling and support services at no cost to Iemas members. Call Global Choices on 0861 887 887 Monday to Friday between 07:00 and 21:00.


[1] https://www.oldmutual.co.za/articles/the-costs-of-studying-in-sa/

Ways to protect your business during the festive season.

protect your business during the festive season

The festive season is a time when most people are travelling and are excited about the holidays. Sadly, for businesses it is often the peak season for criminal activity. This December, make sure that your business is protected and prepared for any potential criminal attacks. As a business owner, you can take the following precautions to help protect your business during the festive season:

  • If you have a shop or restaurant, minimise the cash in your registers by using a drop-mechanism to safely drop the money during the day.
  • Vary the times and days when you schedule cash-in-transit and pick-ups from your premises.
  • Install security cameras that are visible as a deterrent.
  • Install a silent alarm that can alert a security company to react quickly in the event of theft.
  • Make sure you have enough bright lights both outside and inside of your business premises.
  • Test your alarm system ahead of the festive season to ensure that it is working properly and that the battery is in good working condition.
  • Train your employees in terms of what to do and appropriate actions to take in the event of an armed robbery.
  • Have an emergency number on quick dial.

When it comes to businesses, the one-size-fits-all strategy does not apply. Every business is unique; therefore, a customised business insurance policy should be in place to protect your business.

As a broker, Iemas Insurance Brokers make recommendations based on your business’ unique profile to ensure the insurance products you choose is what your business really needs. You can be assured that when you deal with Iemas Insurance Brokers, you deal with a broker that you can trust and afford.

We offer insurance products for various business demands, including but not limited to:

  • Professional indemnity
  • Buildings
  • Employer liability
  • Loss of income
  • Fleet vehicles
  • Glass
  • Office contents
  • Public liability
  • Cybercrime
  • School scheme
  • Theft
  • Fire cover

All of the above-mentioned business insurance policies are available through Iemas Insurance Brokers FSP47563, a wholly-owned subsidiary of Iemas Financial Services. Contact us for more information and to get a quote: 0860 102 383.

Source: https://www.santam.co.za/blog/business-advice/keeping-your-business-safe-over-the-festive-season/

Protect your money against cyber fraud

cyber fraud

The risk of being a victim of cybercrime and fraudulent transactions is an unfortunate reality for all online users. Although you cannot control or prevent fraud, you can take the precautions to protect yourself.

Know the lingo

Educate yourself on the types of fraud taking place in cyber space. Here are a few useful terms to familiarise yourself with:

  • EFT Fraud: This is the transfer of funds to a fraudster that is not authorised by you.
  • Cyber Fraud: Your banking and personal details could be ‘stolen’ while shopping or banking online.
  • Online fraud: From phishing scams to malware attacks, your personal information could be stolen from your phone, computer or tablet.

How to protect yourself

Outsmart fraudsters by looking out for the following scams:

  • Fake online classifieds: Fraudsters place fake advertisements on websites such as Gumtree or OLX to defraud online shoppers. Do not click on ads that are from companies you are not familiar with.
  • Holiday scams: Travel agencies, hotels and private accommodation usually require upfront payment to secure a booking. Make sure that you only book with reputable agencies and that their banking details can be verified.
  • Property rentals: Fraudsters pose as landlords or property agents and will ask for an upfront deposit, using fake lease contracts. Verify the credentials of the agent as well as the banking details of the agency before you proceed. If the agreement is with the owner, then ask for certified proof of ownership of the property.
  • Investment Scams: Fake investment scams can lead to losing your life savings. Make sure that you only invest with certified credit providers that has an FSP number.
  • Fraudulent online purchases: Fraudsters can hack your personal information and use it for online transactions. Allow your bank to send you notifications on your mobile phone. Contact your bank immediately if you see notifications for transactions not made by you.
  • ATM fraud: Keep your bank card safe at all times and don’t let anyone ‘help’ you when you draw cash at an ATM. If your card gets stuck at an ATM do not let anyone try and help you get it out of the machine, rather phone your bank immediately to notify them and to cancel your card.
  • Get covered: Phishield is a clever insurance product that covers you and your business when you lose money due to fraudulent transactional activity, from as little as R40. This cover is available through Iemas Insurance

Brokers, a wholly owned subsidiary of Iemas Financial Services FSP 47563. Contact us for more information and to get a quote: 0860 102 383.

Source: Phishield.

Phishield Fund Protect is underwritten by Bryte and administered By Rodel.