Lapsed Insurance Policies Costs South Africa Billions |
|||||||||||||||||||||
|
Every year lapsed insurance policies and insurance policies that are terminated prior to maturing cost South Africans over two billion Rand. The Financial Services Board released these shocking insurance statistics at the end of 2005. Policy holders are often forced to stop paying premiums on their insurance, especially their life insurance, because of a change in financial circumstances. They find that they can no longer afford the level of coverage they initially selected, either due to retrenchment, divorce, or a loss of income. In the future, many low-income earners in South Africa are expected to take out life insurance coverage, and the number of defaulters is also expected to rise. Our advice is to consider insurance providers that offer cheaper policies, as these lower premiums may remain within your financial compass even if you start to earn less money. Direct insurers like Dial Direct frequently offer lower premiums on their policies putting their clients under less pressure in the event of an unexpected decline in their economic fortunes. Related Insurance Articles: * South African Insurance Tips And Advice * Own A Shack - Insure It With Santam * Life Insurance In South Africa About To Change * 1 Life Direct Launches With R100,000 Online Contest * Life Insurance Policies In South Africa And Who Should Have Them * Santam Insurance Ranked Top Insurance Broker In South Africa * Budget Insurance Offers A Smart Alternative To Motorists * South Africans Take Gamble On Car Insurance 
|
| ||||||||||||||||||||
| 3/14/2010 7:05:58 AM | |||||||||||||||||||||
 |