Heading up these services
1. Personal Financial Planning and Life Assurance
- Personal Life and Risk Assurance
- Income Protection
- Planning for Retirement
You benefit by receiving advice from Independent Advisors. This means that the personnel of FinHub are in the fortunate position to offer you, not just one, but an array of products to address your specific needs.
What is Conflict of interest?
Due to the Conflict of Interest policy (Board Notice 58 of 2010 issued in terms of the Financial Advisory and Intermediary Services Act no. 37 of 2002), there is no incentive for the financial planners in our employment to recommend one financial product as being favourable / preferential to another.
The assurance companies we are contracted with are as follows:
2. Investment planning
FinHub Life & Invest is able to provide both individuals and corporates a premier range of portfolio management services and products.
- Retirement and Retrenchment planning
- Tax planning regarding investment choices
- Investment planning – e.g. fund selection, portfolio management, tax concessions
- Portfolio monitoring and review
- Retirement Annuities
- Unit Trust Investments (including Property Funds)
Our investment approach involves optimising your financial position within the context of specified investment objectives, while basing our overall approach on the traditional core principles of risk analysis, asset allocation and diversification.
3. Business Insurance & Risk Planning
The majority of businesses today are exposed to risk with relation to people who manage their enterprises.
We offer advice and guidance on how business assurance can cover these risks through:
1) Buy and Sell Agreements
In the event of the death or disability of a Partner or Shareholder, it is vital that provision be made for the sale of the deceased's interest in the business and that sufficient funds are available to the survivors to purchase the deceased's interest.
2) Key Person Assurance
The term "key person assurance" is used to describe the arrangement whereby an employer insures the life of a key employee for the purpose of recouping the loss that the employer would suffer in the event of the employee's death.
3) Contingent Liability Assurance
It is designed to protect a company against the potential disastrous effects of the death of a director/shareholder who has secured certain loans or credit facilities on behalf of the company. Furthermore, it protects the deceased director/shareholder's estate from a claim by the creditor.
4. Medical Aids and Medical Insurance
Advice on the design and implementation of medical aid structures both for:
Here our current preferred provider is Discovery Health for various reasons, such as stable management of the fund’s assets year on year, A-rated administration systems, compliance with required solvency margins and the Vitality (lifestyle incentive) program.
5. Employee Benefits - Pension, Provident and Risk funds for Employer Groups
FinHub Life & Invest offers employer-provided benefit schemes that make provision for their employees for retirement, death, disability, sickness and accident.
We provide solutions from various reputable assurance companies in South Africa as a structure for employers to offer their employees packaged, flexible retirement saving and insured benefits.
Employers can choose to participate in a pension-, provident- or group risk benefit fund. Employers also have a choice between a wide variety of benefit design options for life-, disability- and credit risk benefit solutions as well as accident and illness benefits to employers.
We aim to meet the exact needs of the employers and employees by offering
tailored benefits in different forms including:
- Group Life Assurance
- Spouse's Assurance
- Severe Illness / Trauma Benefit
Major traumas could inflict devastating financial burdens on employees and their affected family members. This burden is best shared under a group scheme, which pays out as soon as the assurance company is satisfied with the diagnosis of a traumatic disease.
- Terminal Illness Benefit
- Sanlam Group Risk offers an acceleration of the unapproved Group Life Assurance benefit paid out on the diagnosis of a member's terminal illness. This is done provided that the insured has less than 6 months to live.
This benefit aims to cover the medical cost associated with terminal illness.
- Funeral Aid Scheme
Cover from R3 000 to R30 000
Benefits are usually paid within 2 working days of the claim being submitted.
Cover may be provided to the main member, spouse, additional spouses, children, parents, parents in law and extended family.
- Funeral Transport Benefit
Often large numbers of family members and friends want to attend the funeral of a loved one and need transport but the cost of the funeral itself may have already exhausted any Funeral Aid benefit that may have been paid.
The family may then face significant costs in providing transportation to the funeral.
Sanlam's Funeral Transport Benefit is intended to contribute R3 000 towards the costs of hiring a bus or alternative means to convey the bereaved to and from the funeral and, in doing so, provide a practical benefit to the family of the deceased.
- Accident Benefit
- Group Income Insurance – affordable cover against loss of income.
- This essential product provides an income to the claimant whilst they are disabled.
The claimant would receive this income until he or she recovers, retires, dies or reaches 65.
The assured income of every member is determined by the rules of the scheme in proportion to his/her income before disability.
Based on the choice of the client, the insured income available may vary from 100% first 24 months and 75% thereafter to 75% or any other percentage below 75%. Waiting periods of 1, 3, 6, 12 or 24 months are available. A member may be able to purchase individual insurance without proof of good health when leaving service of the employer before their retirement age.
- Accelerated payment of Group Life Insurance – a lump sum payment.
This benefit will be paid if a member is declared totally and permanently disabled. The payment will be made at the end of the waiting period.
- Waiver of Contribution Benefit – maintaining a member's insurance when disabled
This benefit ensures that the disabled member will still enjoy membership to the retirement fund until the fund's normal retirement age- and life cover for as long as they are a member of the scheme.