We should educate our kids these things, if my parents would have been educated. They could have informed me about these things. At 43, found out about this🙏❤️🇿🇦😘Was very informative, thank you
Thank you so much. You are really equipping a generation with financial wisdom that we never got at school. Started a new job and I’m contributing to a provident fund but had no idea about it’s in’s and out’s. This information really came in handy today. Thank you so much.
l prefer a life over the funeral too but still feel the importance of the funeral one is important as the life policy will come after the burial.Thank you so much sis.
Hi there, I recently joined the group ..I must say you carry an informative channel , I definitely enjoy the content, however I would like to find out if in South Africa , are we provided with an insurance life cover that could become a loan to assist expand cashflow , if there is which companies could you recommend
Thank you for the info, do I need life cover if I don't have children and a spouse? I have it but not sure what for🤔and considering cancelling it to streamline my finances.
Hi Mapalo, thank you for your video on funeral cover and life cover this video is very informative. But theres something I've been told off but I wasnt to sure if I should have it or not, which is gap cover. May you please make a video on gap cover and how it can assist on medical Bill's,and is it necessary to have?
Thank you so much for this video, very eye-opening especially as I am looking into this for my parents as well. Would you advise one to take a funeral policy or life cover from a bank or directly from institutions that offer these?
Rather opt for taking a life cover from an insurance institution mainly because of the benefits an insurance company has over a bank. For example there are insurance companies where a life cover has a retirement benefit meaning when you reach retirement age the policy becomes paid up but you still enjoy the benefits
If a person wasn't sick at the time they took the cover and a decade later they contract a chronic illness are they still required to inform the insurance company? Thanks for the info btw 🙏
Term life cover is to protect your income A whole life cover is to leave a legacy for your kids Therefore when choosing a life cover it should be based on the goals you have either to leave a legacy or to protect your income
Also Mapalo funeral cover is actually expensive, for an example for the same premium funeral cover will be for a super low amount compared to life cover. The solution is to save money and have a funeral fund for immediate family in a savings account and not have extravagant funerals as black people.
eish! now our people will kill you if you tell them NOT to have extravagant funerals! You often hear, 'the casket was so nice and expensive"!!! Like, you've just spent thousands and thousands on something that's going to decompose?!
@@MapaloMakhu what i did was before cancelling the funeral cover was to save an equal amount to what I had covered my parents and siblings for in a savings accounts. Then i increased my life cover.
They just serve a different purpose. Saying life’s superior makes no logic as life covers only the policyholder, funeral however covers your family members when they are dead.
Nothing is free in this world...Great lessons Mme!! Life policy is the only worthwhile product to putting your money in...done!!
We should educate our kids these things, if my parents would have been educated. They could have informed me about these things. At 43, found out about this🙏❤️🇿🇦😘Was very informative, thank you
And the birds applaudes the great lecture you gave... Thank you so much Mapalo. 📝
Thank you so much. This was very informative and educational ❤
I love this ..thanks so much Mapalo !
Thank you so much. You are really equipping a generation with financial wisdom that we never got at school.
Started a new job and I’m contributing to a provident fund but had no idea about it’s in’s and out’s. This information really came in handy today. Thank you so much.
This was so helpful. Thank you so much.😊
Very helpful thanks. 🙏🏿
Thank You Tribe😺.
Thanks 😊
Thanks for the information I'm just a new trainer in this insurance industry and sometimes I confuse the funeral cover and life cover
Thanks 😊
Right on 👍
l prefer a life over the funeral too but still feel the importance of the funeral one is important as the life policy will come after the burial.Thank you so much sis.
A Funeral cover definitely has its place and importance for the day ✨
Thank you
You're welcome
Hi there, I recently joined the group ..I must say you carry an informative channel , I definitely enjoy the content, however I would like to find out if in South Africa , are we provided with an insurance life cover that could become a loan to assist expand cashflow , if there is which companies could you recommend
very helpful
Glad it helped
Thank you for the info, do I need life cover if I don't have children and a spouse? I have it but not sure what for🤔and considering cancelling it to streamline my finances.
Hi Mapalo, thank you for your video on funeral cover and life cover this video is very informative. But theres something I've been told off but I wasnt to sure if I should have it or not, which is gap cover. May you please make a video on gap cover and how it can assist on medical Bill's,and is it necessary to have?
Ohhh yes! Gap cover is a big deal, I will certainly do a video before the year ends on it. Thank you for the suggestion.
Thank you for the explanations! I have learnt so much. I just have a question, how long does it take for the life cover to pay out any claims?
Depends on the company you chose.... Each company has their own payment wi indow
Hi, can you claim your life cover while alive if in need of cash?
Thank you so much for this video, very eye-opening especially as I am looking into this for my parents as well. Would you advise one to take a funeral policy or life cover from a bank or directly from institutions that offer these?
Rather opt for taking a life cover from an insurance institution mainly because of the benefits an insurance company has over a bank. For example there are insurance companies where a life cover has a retirement benefit meaning when you reach retirement age the policy becomes paid up but you still enjoy the benefits
@@JabulanikaSithole Thank you very much for this, I will definitely look into it
hi my sister I want to know where I get it because I stay at Ballito
If a person wasn't sick at the time they took the cover and a decade later they contract a chronic illness are they still required to inform the insurance company? Thanks for the info btw 🙏
Yes you are required to inform them
Which one is better between term life insurance and whole life insurance?
I could give you a quotation then you can see which one works out for you and the people that depend on you
Term life cover is to protect your income
A whole life cover is to leave a legacy for your kids
Therefore when choosing a life cover it should be based on the goals you have either to leave a legacy or to protect your income
I want to know about waiting period
Depends on the company you chose
Also Mapalo funeral cover is actually expensive, for an example for the same premium funeral cover will be for a super low amount compared to life cover. The solution is to save money and have a funeral fund for immediate family in a savings account and not have extravagant funerals as black people.
eish! now our people will kill you if you tell them NOT to have extravagant funerals! You often hear, 'the casket was so nice and expensive"!!! Like, you've just spent thousands and thousands on something that's going to decompose?!
@@MapaloMakhu what i did was before cancelling the funeral cover was to save an equal amount to what I had covered my parents and siblings for in a savings accounts. Then i increased my life cover.
They just serve a different purpose. Saying life’s superior makes no logic as life covers only the policyholder, funeral however covers your family members when they are dead.
Yes one is when you're dead and one is when you are alive.. Brilliant hey?