Take Charge Of Your Money podcast with Brendan Dale
Season 2, Episode 7 - 2 May 2022
Sponsored by Naked - The new way to insure your stuff
Funeral policies are big business in South Africa. They play a vital role in helping us in a time of need, but, many people use them as a replacement for life cover. Or, they take multiple policies thinking that they can enrich themselves, which doesn't work out.
There is great value in Funeral Cover, but there are also many misconceptions! Todays guest is Gugu Sidaki (find here on Twitter @gugusidaki). Gugu is a Certified Financial Planner, co-founder of Wealth Creed, author, and speaker.
Main topics discussed:
0:00 Podcast into and thanks to my sponsor
1:27 Gugu Sidaki, CFP
2:54 Why are funeral policies so popular?
3:52 How does funeral cover work?
5:07 Are funeral policies worthwhile?
8:48 Having multiple policies for the same person
11:08 Financial Advisors vs Financial Planners
13:50 Cancelling a policy
16:45 Reasons why a policy would not pay out
21:06 Closing thoughts
Top tips from Guru Sidaki
Articles on Funeral Cover
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PS - this episode was recorder using Riverside - check it out