• Sharebar
April 2006
A new spirit

The fifth annual ‘Long run’ by the Business Trust ended 28th February 2006 at Signal Hill, Cape Town, where runners handed their baton over to Deputy President Phumzile Mlambo-Ngcuka. It had been carried for 12 days...

April 2006
Wrong info, sweetie……

I had a complaint from the Calorie Control Council about our criticism of aspartame in the cover feature on Food Additives. This has been published in the December issue of Insurance Times & Investments (see Vol...

April 2006
Getting closer

I have recently come across a new Telkom product, which has the potential to save you a lot of money and administration headaches. Called ‘Telkom Closer’ the top option offers an unmetered service for just R300 per...

April 2006
Harder signs

Marine underwriting results in 2005, generally, not impacted by the hurricanes. However, the market is already showing signs of hardening with some hull underwriters refusing renewals without some form of modest...

April 2006
Constitutional question

Since the introduction of the Constitution as the highest law in South Africa, there have been several challenges to the constitutionality of provisions of the tax legislation. Some of these cases have been more...

April 2006
Avoiding depletion

Living annuities remain one of the most popular retirement products due to their ability to retain capital ownership at death, as well as their flexibility in terms of annual income, fund manager selection and...

April 2006
How to relax

People with proper financial plans are far more likely to be financially secure throughout their lives and better able to create the future they desire for their children.

As the new year gets under way,...

April 2006
Big Mac and price parity

In 1986 the Economist invented a guide to help determine whether currencies were at their ‘correct’ level. The guide was based on a standardised product that is available in approximately 120 countries worldwide, the...

April 2006
Denied boarding mess

The Ministry of Transport has announced that it intends to implement the EU rules on Denied Boarding and delays. This in spite of the fact that the EU rules have been seriously panned by all the airlines and anyone...

April 2006
Fais the music

The consequences of non-compliance with the FAIS Act are serious, and Financial Advisers simply cannot to ignore the legal requiremens.

“Non-compliance constitutes a statutory criminal offence,” says...

April 2006
Financial disaster

Our Renault Grande Espace RXT V6 was finally sold December 2005. I wrote about our woes last year (please see details end of this story). While I won’t bore you by even beginning to describe the myriad tedious...

April 2006
Ombud comments

Brokers and financial advisers must not be in a hurry to sell. That’s the message from the FAIS Ombud, Charles Pillai, who emphasised that, “They must ensure the product they eventually recommend” is right and...

April 2006
Consumer rights

The debate over the National Credit Bill has brought into focus the confusing issues concerning home insurance, and the fact clients sometimes overpay for cover, or even pay for products they don’t need.

...

April 2006
Massive inflow

The Ombudsman for Banking Services, Advocate Neville Melville says his office faced a massive inflow of work during calendar 2005. As a result the organisation’s performance slipped in attaining some of its targets,...

April 2006
More support

Comments Channel Life CEO René Otto, “The regulatory approval means we now have more support to focus on developing and distributing cost effective products and services to our entry level target market.”

...
April 2006
Consumer call

The country’s first direct life assurer was launched recently, called 1Life Direct. It says thgis is in response to a “much needed change.”

The company’s CEO, Lenerd Louw, believes, “Consumers are being...

April 2006
Six second rule

We all know that clouds shaped like cauliflowers, upcoming winds, rolls of thunder, and sheet lightning, are all signs that a thunderstorm is approaching. However, it is important to observe the time period between a...

April 2006
Mercedes marvel

I know I am a bit of a mulligrubs at the best of times, and I make no apologies for it; the level of services and quality of goods in this country has reached appallingly, shockingly, terrible levels. Nothing you buy...

April 2006
Things to ask

With approximately 20 training institutions registered with INSETA, finding the right training provider is no easy task.

Be sure you ask the following questions before signing on the dotted line:
Is...

April 2006
No multi from Multichoice

It will no doubt take Multichoice a long time to live up to its name. But a little publicised event that took place last year brought the digital satellite monopoly one step closer: it started to offer a selected ‘...

April 2006
All the same

The tax treatment of medical expenses changed dramatically from 1st March 2006. Comments Andre Jacobs, Regional Manager Healthcare for Aon, “The intention to equalise the tax benefit in favour of middle and lower...

April 2006
Alternative route

Cut-off day for pre-screening for Intec School of Insurance’s Recognition of Prior Learning (RPL) programme is 26th May 2006. This six-month programme is the equivalent of a full qualification for Wealth Management at...

April 2006
Getting professional

At a recent meeting held between the Financial Services Board (FSB) and intermediary bodies, the authorities reconfirmed their intention to require every intermediary to reach the 120-credit level by 2009, by which...

April 2006
Mixed messages

Government is reported to have identified six constraints that are preventing the SA economy from growing at the hoped-for rate of 6%. They are said to be: currency volatility, delivery, import-parity pricing,...

April 2006
Behind the IGF

If short-term insurance brokers want to handle premiums they must provide an approved guarantee in terms of the Short-Term Insurance Act 1998 (section 45). The alternative is for the premiums to be paid direct to, or...

April 2006
Welcome intention

The Financial Planning Institute (FPI) welcomes the intention by life offices to provide assurance products suitable for persons earning less than R3000 per month. In terms of its commitment to increased access,...

April 2006
Off message

The DSTV/Multichoice monopoly has just increased its monthly rate again, to R419. See story with graph on page……….

I want the company to promise us it won’t be able to reduce the cost if a competitor...

April 2006
Benefit boost

Life companies get shareholder approval for minimum values

At least half of all retirement annuity (RA) fund members who stopped paying premiums after 1st January 2001 are expected set to benefit from the...

April 2006
Taking profits slowly

A husband and wife team won Moneyweb’s Make a Million competition by a margin of R2. The competition, a joint initiative between the JSE, Moneyweb, PSG Online and Galileo Capital, invited both amateur and professional...

April 2006
Major strides

Last year saw a 10% increase in amounts recovered by The Ombudsman for Short-Term Insurance on behalf of consumers. This brings the total of amount recovered to R45 million. It includes a 20% increase in the number of...

April 2006
Too heavy…

You may recall last November there was a strange happening at Cape Town International Airport. Something damaged the runway and the non-information from Airports Company of South Africa (ACSA) was staggering....

April 2006
Durban expansion

Fairheads has opened a satellite office in Durban following strong market demand for umbrella trust services in the KwaZulu Natal region. Also known as employee-benefit trusts, umbrella trusts are a cost-effective way...

April 2006
Ain’t seen nothing yet

If you think residential property price increases are levelling off heralding the end of the boom, think again!

“Because, you ain’t seen nothing yet!” proclaims John Loos, property strategist for FNB...

April 2006
Tow limit

Caravan owners are encouraged to check their driver’s licence to ensure they are correctly coded. Evidently many drivers who passed tests after 1998 may have to retest if they wish to tow anything exceeding 750 kg....