Dear valued Client,
It has now been just over a year since we first went into lockdown and life as we knew it changed completely. We are hopeful that once the vaccine rollout has reached its goals, life will eventually return to some form of normality.
We strongly urge you to continue following the necessary safety protocols: Avoid crowded areas as far as possible, wear a mask in public and wash your hands regularly.
Our deepest sympathies go out to those who have lost loved ones or their livelihoods. To those battling illness, know that you are kept in our thoughts and prayers.
DAILY OPERATION:
Like most companies we have fully embraced digital forms of communication like email, teleconference, and video call as we understand many prefer these communication channels rather than face to face meetings.
Especially in the environment we find ourselves today. We continue to do face-to-face review meetings with clients who feel comfortable meeting in person and who do not fall in the high-risk category.
We would like to encourage clients to please make use of our official office email addresses and/or office telephone line for all requests. Unfortunately, requests sent via Whatsapp cannot be effectively captured, assigned, and monitored as this communication channel does not form part of our client relations system.
Product Providers are mostly still working from home and as such the response time might be delayed. Please be assured that we will make every effort to respond to all queries as soon as possible.
Please note that our offices will be closed on the 26 & 27th of April in celebration of Freedom Day.
Please find the SOS numbers below for short-term insurance related emergencies.
Santam – 0860 505 911
OMinsure -0860 365 247
Auto & General – 0860 104 210
Please also continue to follow our facebook page for regular updates:
https://www.facebook.com/tvzfinancialservices/
SAVINGS & INVESTMENTS:
In March 2020 when it became clear that Covid19 will not be limited to just China and a few other countries, Global Markets came crashing down.
Many people panicked and rushed to either withdraw their funds or moved these investments to perceived safe havens such as money market.
However, those who stayed the course would have benefitted in the 55% growth the JSE all share index experienced since 27 March 2020.
With the prime interest rate being kept at a 50-year low of 3.5%, fixed deposits and money market accounts with the bank are not able to offer the returns it once could.
We therefore urge clients who have bank investments to contact us for assistance in diversifying your portfolio in asset classes that offer inflation beating returns.
SHORTTERM INSURANCE:
We encourage you to read through your policy schedules and summaries carefully and let us know if there are any queries or important information we should know about as this could affect the outcome of any claims submitted.
Although we try our best to ensure our clients are comprehensively covered for every possible risk, we cannot do it without your input. Unfortunately, it is simply not possible for us to provide correct cover values for your building or content as we do not have the skillset needed to valuate a home or every piece of furniture, appliance, antique, art etc
that forms part of your home contents. We therefore encourage you to get an expert opinion on the value of your building and keep an inventory of your contents which will assist you in determining the replacement value of your valuables.
We would gladly supply you with an inventory template and guide you through the process if required.
RISK INSURANCE:
Insurance companies are slowly starting to make stats available on the Covid19 related claims that has been paid out thus far and it is a grim picture.
In February 2021 Sanlam sent us some stats relating to their Covid19 claims.
From January – December 2020, Sanlam paid out R428 million (738 deaths) in death claims.
In January 2021 alone they paid out R282 million (414 deaths). These stats just show how deadly the second wave truly was.
It is vital that you and your family are sufficiently covered against the devastating financial effects of death, disability, and severe illness.
Feel free to contact us if you are concerned about your level of life insurance cover.
Our needs analysis process is designed to identify the financial risks you and your family are exposed to.
Whereupon we can provide advice on how to reduce or mitigate these risks.
PRESERVATION OF PENSION/RETRENCHMENT:
An unfortunate consequence of COVID19 and the lockdown is that many businesses were forced to close their doors resulting in many retrenchments and forced retirements.
Our deepest sympathies with those who lost their source of income or who had to take a pay cut.
If you find yourself in such a position, we encourage you to reach out to us for a consultation.
There are many tax and other implications when it comes to retrenchment and retirement and making an uninformed decision could cost you hundreds of thousands of Rands.
It is very important that you evaluate all your options, so if you or anyone that you know find themselves in this unfortunate situation please contact us.
PLEASE STAY SAFE & TAKE CARE OF YOURSELVES & YOUR LOVED ONES
Kind Regards
TvZ Financial Planning Team