Brand Pretorius, CEO at Momentum Insure
As our lives progress, so do our needs and priorities. It’s vital to ensure that your insurance evolves with these changes to provide optimal protection for you and your assets no matter what life stage you are in.
Momentum Insure CEO, Brand Pretorius, recently highlighted the importance of aligning your policy portfolio in coordination with the changing currents of our lives. He noted that finances can be complicated, and since the economic environment fluctuates so often, it can be difficult to keep track of what you need at various stages of life, especially without the right advice tailored to your unique circumstances.
“Different life stages require different types of insurance coverage. Whether it’s for your car, home, or business, consider what you need to protect and why. If you find it difficult to piece together, there are so many brilliant financial advisers out there ready to give you the right advice,” says Pretorius.
Understanding the details of your policy and how it fits into your financial life is equally important. “It’s essential to know what is covered and what isn’t. For car and home insurance, ask about specifics like the events you’re insured against and the process of making a claim. Make sure you’re comfortable with the terms and conditions,” Pretorius advises.
As life evolves, invest in peace of mind
Cost is another critical factor to consider. According to Pretorius, “Insurance is an investment in your peace of mind, but it should also fit within your budget. Look at the premiums, excesses, and any other associated costs. Remember, the cheapest option isn’t always the best. Balance cost with the cover you’re getting,” he noted.
Evaluating the insurer’s reputation is also key. Pretorius points out, “You want a company that stands by its word and handles claims efficiently and fairly. Research their customer service record and read reviews from other policyholders.”
Finally, Pretorius urges South Africans to think about the future. “Your insurance needs will change over time. Choose an insurer that offers flexibility, so you can adjust your coverage as your life evolves.”
For example, with car insurance, he says to consider how often you use your vehicle, as some insurers have products aimed at clients who drive less, or reward clients for driving safely, like Momentum Insure’s Safe Dayz and Safety Returns benefits. For home insurance, he suggests specifying valuable items separately and updating the values of your contents regularly, to prevent underinsurance.”
Only the right advice will do on your life’s journey
Pretorius sums up his insights by reminding everyone that insurance is more than just a policy; it’s a safeguard for life’s journey.
“Choose wisely, and you’ll have the confidence that comes with knowing you’re protected. Speak to your financial adviser for more information and look for additional benefits offered to ensure that you’re getting the best value for money that fits within the unique needs of your life stage. This will ensure you always maintain peace of mind and protect what matters most,” says Pretorius.
In the end, insurance is a way to secure your family’s future and give you peace of mind. “By understanding the types of cover options available and when to get them, you can ensure that your cover is reflective of your life at any given moment,” concludes Pretorius
ENDS
