The short answer is much sooner than you think you will need it! The challenge is that a 20-year-old appears to be healthy and sees cover as a grudge purchase. Young people often think that they are invincible. In their case, accidents are the biggest cause of death and disability. Adults who are faced with their own mortality often wake up to the fact that they may also leave others behind!
For many people insurance is something they know they ought to have, especially in South Africa where accidents and loss or damage to property are quite common.
If you are new to the world of insurance or would like to make sure that you and your family are adequately covered, this introduction to the various types of insurance may answer a few of your questions.
Remember to consult your financial advisor if you would like more information on the types of insurance on our checklist: Continue reading “Insurance: A Whole World of Options”