OPINION ARTICLES

Let’s just be honest and upfront. For some, insurance is a grudge purchase. It’s not a luxury. It’s not glamorous, or even desirable. But, while we are calling a spade a spade, let us also face the fact: Insurance IS a necessity!

So, what does your grudge purchase have to offer? Peace of mind. You read it! It offers peace of mind that you, and your family, are protected. And can you really place a monetary value on that? We don’t think so either.

We are all faced with the reality of everyday risks and adversities. And an unforseen event, such as a vehicle accident or an all consuming fire (at home or your business), can easily throw your life upside down. Suddenly, adequate insurance does look more desireable.

In a nutshell - insurance is a transfer of risk. It is taking the potential risk (i.e. loss of income, life, a car, home, or health losses etc.), and transferring it onto an insurer. In return, you pay the insurer a premium to insure that risk so that when the unexpected strikes, and you lose the insured item, you are covered by your policy.

Let’s look at the difference between short-term and long-term insurance.

Short-term insurance mostly covers belongings and objects against loss or damage, while long-term insurance covers the lifespan of a person, such as death, disabilities, dreaded diseases etc.

It is imperative to work with your intermediary to ensure you are adequately covered.

In short-term insurance this means informing your broker when your business expands, closes, when you purchase a new item of value, or when you have to reduce your premiums. It is a constant change.

In long-term insurance you have to be upfront and honest with your broker, and the initital effort is well worth it. If everything is in place, you can confidently re-evaluate annually, or in the event you undergo life altering changes.

At Voorpos, we offer two categories of financial services:

Here is a map of how a typical portfolio can look like:

Would you like us to take an obligation-free look into your insurance portfolio?

Our expert financial advisors will ensure that you are adequately insured for any unforseen event.

We look forward to hearing from you.