SASRIA offers cover for accidental or deliberate damage to property

northwood_financial_services_broken_car_windowMr. Jones arrived at work in his brand new BMW and proudly parked it in his designated parking bay. During the course of the day, a dispute broke out at work, and before he was aware of the risks, the workers began to destroy the premises. All the vehicles, including Mr. Jones’ new car, were set alight.

After the incident, Mr Jones queried the incident with his insurance company. To his dismay, the insurers informed him that he was not able to lay a claim due to the fact that no insurance policy covered damage caused by any person or group taking part in a riot, strike, lock-out or civil commotion.

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Insurance: How to Value Contents Carried on Your Person

personal-insurance-itemsIt’s all very well insuring your household contents, but what happens to the items you carry with you, such as your wrist watch, mobile phone, laptop or tablet, MP3 player? Unfortunately, in the world we live in today, we need to insure the items that we carry on our person, as well as those we have in our homes, in case of theft or loss. Continue reading

How to Value Your Home Contents

household-insuranceInsuring your household possessions and valuables is vital in this day and age, particularly if you have certain items of value such as original artworks, antiques or expensive jewellery. However, it is crucial that you evaluate the contents of your home and your possessions correctly. If you fall short and underestimate your contents – you risk an insurance shortfall – overestimate the value of your possessions and you end up paying excessive premiums. Taking that extra time upfront to evaluate the contents of your home and your valuable possessions correctly and honestly reduces the chance that you may come a cropper in the long run! Continue reading

How to Value Your Home for Insurance Purposes

house-insurance-policyYour house is in all likelihood your most valuable asset, so it is vital that you have sufficient coverage for your property in terms of insurance. A comprehensive short-term insurance policy can be taken out to protect both the value of your entire home structure, as well as its contents against unforeseen circumstances, such as fire or flooding. Depending on the age and condition of your home, and where you live, the cost of insuring your house can vary significantly, just as under insuring your home could have drastic consequences should it burn down. Continue reading

Deadline for New Retirement Annuity Contributions Looms

retirement-annuityIt’s tax time, which means it is also retirement-annuity season.  As an investor in a retirement annuity (RA), you’re able to make ad-hoc additional payments into your funds annually, and with the deadline looming the time to top up is now.

The closing date for topping up your RA is 28 February and you should ideally let your financial advisor know a few working days before that date in order to allow for admin processing. Specialising in financial planning services Northwood will ensure that you have the most favourable RA to suit your needs. Continue reading

Who’s Side is Your Broker On?

insurance-investment-brokersMany clients see their insurance or investment broker as a trusted advisor who has their best interests at heart when recommending a policy – and that’s how it should be. Unfortunately, some brokers are motivated by commissions instead of their clients’ financial goals.

So, what kind of broker do you have?  To find out, let’s take a look at the difference between trustworthy, client-focused brokers and commission chasers. Continue reading

Financial Services Legislation – Two Big Changes

financial-services-legislationWhen laws and regulations change, it’s the responsibility of every financial advisor to take note of new regulations, apply them in accordance with the law, and keep clients informed about their rights and responsibilities.

In this article we take a close look at two new regulations from the Financial Services Board and find out how they affect both financial advisors and their clients. For more information on these new regulations, feel free to contact the Northwood team today. Continue reading

Your Risk Profile – Decade by Decade

age financial risk profileAs we get older, our risk of illness and disability increases – it’s one of the hard facts of life. As medical science improves year on year, our chances of living longer are constantly increasing, along with the cost of healthcare – this makes it crucially important to understand how every person’s risk profile changes as they get older. Let’s find out more. Continue reading