Income first: Leading the change

Life insurance is often seen as something your family cashes in on at the end of your life. At FMI, we are on a mission to bust this myth. We want South Africans to realise that the most important part of financial planning is in fact, protecting your hard-earned monthly income against the risk of any injury, illness, critical illness and death.

Your income is more than just the money you earn. It provides for the things you need today and holds the futures of those close to you. It’s what you use to make an impact at each stage of your life.

AS WE ENTER DIFFERENT STAGES OF LIFE, WE’RE SUDDENLY PROMPTED TO RECONSIDER OUR FINANCIAL NEEDS IT’S THE PERFECT OPPORTUNITY TO GET CUSTOMERS TO THINK ABOUT ‘LIFE INSURANCE’ AS ‘LIVING INSURANCE’.

When you’re starting out and have no debt or dependants, it’s unlikely you’ll need any life cover. But Income Protection and Critical Illness cover can’t be ignored. Then, as you get married, have kids or buy a house, you’ll start to consider making sure that not only are you covered, but your loved ones are also protected in the event of any injury, illness, disability or death.

FMI (a Division of Bidvest Life Ltd) is launching our Income First campaign to encourage South Africans to become more aware of the need to protect their income from the time they are young earners and onwards through each of life’s stages. Customers need to be able to adapt their cover throughout life. And they need to do it even if they’ve claimed or their health changes.

2 fundamental shifts FMI is encouraging in the industry:

1) For South Africans to insure themselves against their most likely risks (injury, illness and critical illnesses) that could prevent them from earning an income – both for a short while, as well as for an extended period of time.
2) For South Africans to cover themselves with income replacement benefits, as opposed to large lump sums.

Over the coming weeks, FMI will be taking advisers and their clients on a journey through life, with an insightful look at the different insurance needs facing each customer as they experience life’s milestones.

FMI’S 5 LIFE STAGES ARE:

We’re inviting all advisers and customers to join us as we set a new standard for life insurance, one that ensures all SA income earners can continue to take care of the ones they love, and make their impact on the world around them. It’s time for Income First.