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The importance of insurance

What happens if you lose your job, what happens if you are in an accident or your house burns down? How can you protect your assets and also yourself from such an unexpected & costly event? Most of us feel confident about our future and our ability to tackle unseen circumstances and understand insurance to be an unnecessary spend. Managing your risk requires an insurance policy. So, what is this insurance all about? Insurance refers to transferring the risk of a financial loss you might experience due to life’s uncertainties to an insurance policy through a licensed insurer. There is a lot of different types of insurance policies available, and virtually any individual or business can find an insurance company willing to insure them for a price. The core components that make up most insurance policies are the deductible, policy limit, and premium.

Noble B-BBEE Advisory has worked with Sasfin Holdings and Sasfin Asset Managers from 2018 to date as the facilitators of Consumer Financial Education across four programmes. Noble is a black-owned and black female managed business who have passion for true and reflective transformation in the South African communities.

About the Author

Terri Katz
Marketing and CSR Manager, Sasfin

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