Financial Planning Insurance in South Africa

The main purpose of Financial Planning Insurance, is to create and maintain financial independence. The earlier you start financial planning in life, the better end result can be achieved – especially when reaching retirement age!


Appoint a competent & skilled Financial Planning Insurance Advisor
The sooner you start financial planning, the better when reaching retirement age

Need Financial Planning Insurance Assistance?
 Broker Directory News See Financial & Retirement Planning News:
•  Save on Tax - Diversify your Retirement Savings (Jan 15, 2018)
•  Were your investments affected by the Steinhoff bloodbath? (Dec 17, 2017)
•  The job of a Financial Planner (Sep 23, 2017)
•  Financial Adviser Crucial in this Time – Discovery (Sep 23, 2017)
•  The Six Steps of Financial Planning - Good to Know (Jun 21, 2017)
•  Are you prepared for Retirement? (Jun 01, 2017)
•  What you can expect from your Financial Advisor (Feb 23, 2017)

Financially independent people pursue certain lifestyles and it is the uniqueness of each person’s lifestyle, which calls for a Financial Insurance Planner or Advisor, who can carefully consider your circumstances to provide you with the best plan for your financial independence.

Ensure to select a competent Financial Insurance Planning Advisor with professional practice standards, who is skilled to deliver integrated financial planning solutions – this will then empower you to take control over your finances and enable you to reach your goal of financial independence. 

We all need to thoroughly plan for our future – including our retirement dreams and goals. Goals and dreams may differ, but growing old is something all of us will eventually have to face. So, start your finanical planning early.

How you plan and manage your unique financial affairs early on in life, will largely determine if you achieve those broader long term goals.

Committing to financial planning is an “early life sacrifice” made for long term financial security.

Most of us follow a similar journey – we start single, then marry, have kids, retire and eventually pass on. Each part of this journey brings about new challenges, new goals and new demands. Buying of cars, houses, marriage, education, higher education, investment, retirement, funeral, estate, wills, etc, all form part of this journey.

Committing to Financial Planning Insurance is a great first step. Getting the right financial planner (or financial planning advisor) to form an integral part of this journey, is your next best decision!

In fact, the smartest thing you can do is -- Get a specialist broker to do it for you!

Also, important considerations applicable to Financial Planning Insurance:

  • All brokers, advisors and financial planners are bound by the same regulations – So in terms of disclosures and the actual advice given, they must be licensed to do so. (Remember it remains your duty to verify their credentials). The regulations referred to above, the Financial Advisory and Intermediary Services Act (FAIS), protects consumers through fit and proper “tests”, which includes honesty and integrity and ongoing training;
  • The fact that an Financial Planning advisor is registered and licensed, does not necessarily mean they are the best person to do your financial planning for you. It simply means they are 'licensed, fit and proper' to do so on your behalf;
  • Given the fact that you are going to part with some of your money every month for a very long time, it is important to choose a “partner for life”;
  • All leading Financial Planning insurers have strong brands and many dedicated tied agents & advisors. Remember they may be limited to a single brand only, which may not be in your best interests. Then on the other hand, you have independent advisors or brokers, who have access to all or some of the leading brands. They may charge different fees, have variances or limitations in full financial servicing offerings, different qualifications and affiliations and testimonials;
  • It is all about researching your future partner, you have the tools to do so. Avoid ever “divorcing” your financial planner, by simply doing your financial planner selection very carefully and selectively up front.
  • Determine a criteria that you would expect of your financial planner.

Suggestions to consider with regards to choosing your Financial Insurance Planner:

  • The scope of financial services required: Do you need your financial planning advisor to be licensed to assist you with the full spectrum of financial services? This may impact on their licences, tied agencies versus independents, skill set, qualifications, experience, size of practice and others.
    The potential Products & Services as part of the Financial Planning Insurance advisor's value proposition to consider, may include the following: Financial planning, life insurance and number of contracts held, will services, trust services, tax or accounting, investment advice, off-shore investments, short-term insurance, business insurance, specialist business insurance and liabilities insurance, provident funds, pension funds, employee benefits, disability insurance, key man insurance, dreaded disease insurance, deceased estates etc.
  • The more research you do, the better. Check the testimonials and client base of the Financial Planning advisor, as well as their stated specialist services, qualifications and experience. Often it may be in your best interest to select specialists in different fields, rather than going with just one practice.
  • There is no one person who’s financial planning will be the same. Simply because we all share different backgrounds, circumstances, budgets, goals, age, habits, life styles, jobs and many more.
  • Remember you are also welcome to approach more than one Financial Planning advisor or broker to present their recommendations as to your specific profile and needs. This is a great way to compare fees, services, added services, passion and meeting your expectations.

Note: In the initial phases of your Financial Insurance Planning, the following aspects are very important:

  • Establish a relationship and define your expectations and goals for the immediate, medium and longer term with your Financial Planning Insurance broker/advisor.
  • Exchange all critical information such as: Age, gender, income, savings, liabilities, expenses, dependents, preferences, commitments and appetite for risk, versus return.
  • Now knowing your goals, profile information and financial affairs, the advisor can get to work.
  • The Financial Planning advisor will analyse all this information and can then present the financial plan and recommendations.
  • If you have appointed more than one Financial Planning advisor, then you can weigh and compare the options, costs and services.
  • Disclosures: All Financial Planning advisors are obliged to be honest, act in your interest and make full disclosures. These disclosures may include the following:
    • A: The products they are licensed to sell;
    • B: The relationship with their service providers;
    • C: Define the services that will be provided;
    • D: Explain all fees and costs;
    • E: Explain all products in such a manner that informed decisions can be made.
Make your selection, agree on the way forward, and then decide who is responsible to review the performance in terms of the broader financial plan annually. Adjust and review such plan where so required.

Understand Financial Planning Insurance Products & Services
Also review your plan annually and adjust if necessary
Broker DirectorySmart insurance advice brought to you by professional insurance brokers!