In Touch                                                                  November 2016

Dear Client   As the end of the year approaches, it is tempting to slow down and delay making any big decisions until the New Year. However some decisions need to be taken now, rather than later. One such matter is deciding how to use your annual bonus. Wisely allocated, your bonus could save you money and enhance your retirement savings. Another matter, is reviewing your current medical aid option and deciding whether to change options for the coming year.  Although the articles we refer to in this newsletter were written over the past year, the concepts remain valid. If you are planning a road trip during the festive season, especially with children in the vehicle, roadside assistance can give you peace of mind for a happy holiday. We list some of the benefits included in these packages. Check your policy schedule, most policies do offer roadside assistance, if you are not sure contact us that we can check what cover your policy offers. Finally, with breast cancer and prostate cancer highlighted at this time of year, we look at the facts around these dread diseases and how risk cover can make a difference. If we do not meet again before the holiday season starts, may you and your loved ones have a safe and joyful festive season. Please drive safely when you are on the road! We are looking forward to seeing you again soon.   Kind Regards.   KIBA DE KLERK

Spend your annual bonus wisely

So many people spend their annual bonus before they even receive it. It is therefore a good exercise to plan how you intend to spend it before you get your bonus. By following these easy steps, your bonus can make a significant difference to your finances.

 

• Split your bonus in terms of percentages, rather than rand value, to help guard against reckless spending.
• Allocate a sizeable percentage to reduce high-interest short-term debt and a portion as an additional payment into your home loan. Then set aside a percentage for short-terms savings to cover school fees, home maintenance, holidays and any unexpected costs.
• Also look out for yourself and allocate a portion for retirement savings.
• Finally, set aside a small percentage to spend over the holidays.

 

Click here for a practical example of how to split your bonus. If you would like advice on how to save or invest your bonus, please talk to me.

Review medical aid options

Medical aid schemes allow members to change from one benefit option to another once a year, in November or December. Take this opportunity to assess your scheme’s benefits, so you can balance the benefits you want with the contribution you can afford.

 

When deciding on the best option, consider your medical expenses over the past year, your individual circumstances and if your situation is likely to change next year (for example, if you are starting a family). Keep in mind that cover for major health events is vital, as medical care can be costly.

 

Click here to read more about the factors you need to consider when choosing the best option to cover your needs.

Going on a road trip? Get there safely!

Driving off to your holiday destination, you should not be worrying about an accident, break-down or flat tyre. Roadside assistance offers the support you need to get to your destination and back safely.

Roadside assistance packages include benefits such as repairs in the event of a break-down, locksmiths, tyre changes, jump starts, towing, safe storage of a vehicle, medical evacuation, vehicle hire, accommodation and directions if you get lost. Some also offer a designated driver service to ensure their members arrive home safely after a night out.

Find out more about roadside assistance services here. Speak to me about getting your cover in place before you drive off on holiday.

 

Cover for dread disease

We are reminded during October and November that cancer is amongst the most serious diseases South Africans face.  According to CANSA, the lifetime risk of breast cancer in women is 1 in 29, while men have a 1 in 27 lifetime risk of prostate cancer.

Losing a family member to a critical illness can be devastating. Not only does the family face the loss of a loved one, but also the medical costs associated with illness and possibly the loss of a breadwinner’s income.

Policy holders are significantly underinsured when it comes to risk cover. This is mostly because they do not know about the benefits of risk cover and the risks of being underinsured.

To find out more about cover for dread disease, click here. If you would like to discuss or review your dread disease cover, please call me.

 

Keep in touch Please contact me if your circumstances or needs have changed and your financial plan needs to be updated. Title         : Mr. Name      : Kiba Surname : de Klerk Tel no.     : 023 342 5161 Email       : kiba@audenberg.co.za Physical address: Looking forward to hearing from you!