Short-term insurance is a way of protecting your assets, particularly your home, vehicles and business. Long-term insurance is an investment over a longer period of time and includes retirement annuities, medical aid policies, endowment policies and other investments such as unit trusts. Insurance helps you to be prepared for that rainy day. |
In order to have peace of mind and protect yourself against life's little mishaps, you need to protect yourself and your assets. Ensure that you can afford to enjoy the good times whilst protecting yourself and family members from the curve balls life throws at you.Through investments, you are creating wealth for the future, and through insurance you are securing your wealth into the future. The two main reasons for investing and insuring are to ensure you are taken care of, in your golden years and 'for that rainy day'! You want to protect yourself and family by being prepared and catering for future unfortunate life-altering moments, such as death, dread disease or disability. People also commonly invest towards some positive goals such as becoming debt-free, or that holiday in the South of France, or buying that new 4X4, cash... |
Wherever you put your money, there are risks involved. Most people aren't disciplined enough to save their money for that rainy day. It's thus essential to have a structured investment plan which automatically debits your account and is not easy to touch. Money under the mattress is at huge risk - not only is the money devaluing as it sits around doing nothing, but it isn't even gaining interest - and what if there's a burglary or your house burns down? Money in the bank is at least secure and does get compound interest, but the returns will never be as profitable as a good investment. Other negatives are the bank service charges, the fact that money in the bank is taxed and of course, that money in the bank is too easy for you to get at. It should also give you peace of mind to know that, in a crisis, you can borrow against your investments, however 'fixed' they may seem!
Check the broker's registration with Professional bodies such as The Association of Professional Financial Planners (LUASA) and the Financial Services Board (FSB). It is essential that you only buy policies and products from reputable companies such as Discovery. Legitimate Insurance Companies have sufficient financial backing and a large or comprehensive enough investment portfolio to protect you and your assets as the economy fluctuates and the economic climate changes. Companies like Discovery are dynamic and develop with the times, constantly developing new, relevant and up-to-date insurance and investment products. |
Investment and insurance is a dynamic industry. There are always some risk involved in any kind of investment; plus, there are always changes in the policies or products which are available. Our economic climate changes and fluctuates, and investment plans need to change with the times. There is unfortunately no such thing as a 100% safe investment (even banks have been known to collapse!). It's thus important to be aware of what's happening with all your insurance and investment policies. You must ensure that you have the best policies or products which meet your needs, present and into the future. This is where a professional, experienced financial advisor comes in very handy! A commonly held fallacy is that the cheapest product is the best. Only the best product is the best, and even that may change, in time. Many a person has been caught buying cheap insurance, only to have major hassles claiming, when something unfortunate happens. For more information visit the Financial Services Board. |
Keeping up-to-date with all the various companies, investment plans, policies and products available is a full-time job. It is not just the insurance companies and products which change - laws and tax regulations change, the economy changes, and your investment and insurance needs change. A good broker would be aware of all such companies, products and developments in the insurance world, and be able to both advise you of your options as well as keeping you appraised of any changes. Policies need to be reviewed regularly (at least annually) and information updated. It is important to develop a professional relationship and trust your broker. You must feel your investments and insurance are both flexible (able to change as your life changes) and protected (able to compensate you when tragedy strikes). Your adviser need to "have your back" and have the experience and qualifications to be able to see the 'big picture' regarding your portfolio. He is thus able to objectively assess the performance or risk of each of your particular investments or insurance products. Nick can assess you portfolio's performance, within the economic context, as well as within the context of developments within the insurance and investment industry. As companies products adapt and change with the times, Nick's experience, expertise and intimate knowledge of the industry ensure that you always get the best advise. Nick realizes how dynamic the economy and industry is and is thus constantly updating his product knowledge and financial expertise. |
FICA regulations have ensured that commissions are becoming increasingly regulated and transparent. As from January 2000, brokers had to disclose their commissions to their clients on long-term insurance. There is a fixed rate of commission, i.e., the same type of policy over the same period would have the same amount of commission irrespective of which company's product it is. Broker's commission is built into the price so even if you If you were to go direct, you would not be given the commission, and although it seems that you aren't paying commission per se, the "administration costs" are usually far higher - so, at the end of the day, you would save nothing. Commissions are how brokers make their living, and you do not pay them a retainer or salary for advice, administration etc. You have the added benefit of professional advice and expert insight when dealing with an experienced, financial consultent as opposed to a company employee!
It is essential to check the credentials of your broker. Their honesty, integrity, transparency and professionalism can directly impact on you and your family's security and future. It is essential to know whether they registered with a recognised broking body such as the
The Association of Professional Financial Planners (LUASA); and are they licensed with the Financial Services Board in accordance with FICA regulations?
As in any relationship, personal or professional, it is imperative that there is both trust and respect. A personal recommendation or word-of-mouth from current clients is very valuable. Your broker should also be in-touch with both your needs and any developments in the insurance world (the wider their range of expertise, the better). This ensures that they're able to accurately advise you on a regular basis (thereby minimising your risks and maximising your returns and security/cover).
Nick Panagiotopoulos, (or "Nick Pana, your friendly financial adviser", as he is known) offers an intimate, professional, confidential and dynamic financial service which focuses on a client's actual needs at any given moment in time. With a broad range of experience and expertise, and some 20 years in the insurance and investment industries, Nick can provide objective advice on a broad range of investment plans and products, and make informed recommendations. Nick understands that both the economic climate, and your economic circumstances, change. So too, their are changes in the industry and your needs will change from time to time. Only through developing an ongoing relationship with you, the client, can he evaluate your unique needs and how they change as you move into the future. It is only then that Nick is able to provide you with the best advice for YOU. Many of Nick's clients over the years have become friends, and his "calling card" is as Nick Pana, your friendly financial adviser. Nick makes it his mission to regularly review clients portfolios, and to communicate with clients to ensure that their personal needs and circumstances are taken into account! Nick believes in the personal touch. Nick also has a finger on the pulse of the insurance industry and is aware of all developments and can recommend changes to your portfolio if and when necessary.
Nick used his strong background in sales to become a qualified and dedicated independent financial advisor focussing mainly on Life and Retirement. Nick is licensed with the Financial Services Board (FSB License No. 12106) and in accordance with South African legislation (FICA); and is and registered with The Association of Professional Financial Planners (LUASA no. 4708). Nick gives his clients with financial planning and a portfolio that best suits the client's specific needs and situation. Nick provides a personal and efficient service to his many loyal clients, most of whom have been with him for many years.
It's really as simple as:
1) Open, print and fill in this Client Consent Form form and fax or e-mail it back to me. If you know, please include a full list of your policy numbers (past and present), for me to check the values.This provides me with your permission to access information (on your behalf) regarding your portfolio.
2) I will call you, and make a convenient time to meet and discuss your portfolio's performance. Together we'll assess your needs and situation. I'll provide advice and recommendations in user-friendly, layman's terms. Together we'll make the necessary changes, to meet your needs (wants and desires!)
Regardless of your current involvement with a broker or company, it really is an important, personal decision who you place your business with. There's no need for explanations, recriminations or embarrassment... even if your broker did remember your birthday every year and send you a calendar every Christmas! It is in your best interest to place your business in the hands of an experienced, professional, independent broker whom you both respect and trust. Your future is at stake, so you really need to have someone handling your business, who is qualified, experienced, and genuinely has your best interests at heart! I'll make sure this transition is painless, efficient and transparent.
