South Africans Are Getting up to R10 Million Life Cover: Here is How They Do It!

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South Africans Are Rushing to Get Medical Insurance for ONLY R11 a Day

Yes, you heard right—from only R11 a day—not only do you get Unlimited GP Visits and Basic and Emergency Dentistry. But should an unforeseen medical emergency occur, your Medical Insurance will pay hundreds of thousands of Rands at the exact time of need.

But, if only Mmusi Mahlala—financial administrator and father of three knew this before being diagnosed with one of the most common neurodegenerative diseases—Alzheimer’s.

In the same boat—along with 85% of South Africans, Mmusi could not afford what the market had to offer, forcing his family to go without medical insurance. Not only did Mmusi’s family lose their life savings, but after two years of palliative care, they lost their home, and eventually, they lost Mmusi.

If you wonder whether it makes sense to buy Medical Insurance, ask yourself these two questions: How will you cover the medical bills if one of your children or your partner were in a terrible accident? And how will your family survive the loss of your income if you were diagnosed with a degenerative disease?

Health risks and uncertainties are a part of life. With ever-increasing healthcare prices paired with the rising numbers of modern-day diseases, Medical Insurance provides individuals and families with much-needed financial backup for medical emergencies.

Developed to bypass steep medical costs yet enjoy private medical healthcare—Medical Insurance stipulates benefits and pays a specified amount. Unlike medical aid that covers comprehensive hospital cover, Medical Insurance assures that the amount you choose will be there immediately. It is not just a life-jacket—it is a financial rescue!

Many Customers are Shocked at the Results They Find

Do not let rising medical costs become a concern. If you want future financial security, Medical Insurance is the smart choice. And thanks to the service from ProudDad.co.za, it is now easy to find it for as little as R11 a day.

ProudDad.co.za provides a fantastic service that enables individuals, families and businesses to get free Medical Insurance quotes in as little as a few minutes, with no strings attached.

Medical treatments are expensive—but ProudDad.co.za can help you find the best cover at a price you can afford.

Here is how you do it:

Step 1: Select your Province on the map below to check your FREE quote.

Step 2: Answer a few questions and get a quote from top South African Providers.

You do so much for your family—let ProudDad.co.za help you take a load off by protecting your world for less. Join the thousands of South Africans who have turned to ProudDad.co.za for affordable Medical Insurance plans for as little as R11 a day.

Insurers Do Not Want You To Know This: How to Pay Less for Vehicle Insurance?

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Are you one of the millions of South Africans feeling the effect of an insanely high car insurance premium on your pocket each month, or are you one of many vehicle owners forced to choose between paying school fees or vehicle insurance?

Before the COVID-19 pandemic, Jack was already struggling to pay his debts. Working hard as an accountant in the city, Jack was the provider for a family of five. Over the years, Jack managed to cover all his debts each month, with no money left for savings.

But in 2019, Jack had to make some serious financial decisions when his employment contract changed from full-day to half-day. Jack lost half of his salary and could no longer keep up with all his debt payments, forcing him to cut various services that he could no longer afford. Unfortunately, car insurance was one of them.

As luck would have it, one year later, a thief stole Jack’s vehicle from outside his home. Not only did Jack become another vehicle-theft statistic, but he also became a ‘no-insurance statistic. Jack, a hardworking family man with an accounting degree, now had to rely on public transport.

Insurance is invaluable. Yet, around 65% of South Africans are driving without insurance.

Statistics show that South Africans are teetering on the edge of insolvency, with around 75% of household income used to service debt. In the same vein, the South African Insurance Association show that only 35% of on-road vehicles have vehicle insurance. That means nearly 70% of South Africans are driving without insurance.

Vehicle insurance rates have become a budget pain point for millions of South Africans like Jack. But South Africans can afford vehicle insurance. In fact, not only can South Africans afford car insurance, but they have the power to bring their premiums down.

Here’s how?

Compare comprehensive insurance quotes.

Industry experts say the trick to keeping premiums low is to check the market value of the car against the insured amount. After, compare quotes from different insurers to find the most affordable comprehensive insurance to meet the budget. Need a FREE vehicle insurance comparison quote from the top five providers to see how much money you could save? Use cover search.co.za and get a quote within minutes.

Maintain zero insurance gaps and keep good credit

While gender, age, lifestyle, vehicle model and price are significant premium influencers, another key to a lower monthly rate is to drive a comfortably affordable vehicle. Much like a medical cover, Providers also look at vehicle insurance history – and they dislike insurance gaps and are equally cautious of poor credit reports.

Consistency is essential to providers as research shows that consumers who effectively manage their credit responsibly have fewer claims. That means that South African drivers can reduce their monthly premiums by paying bills on time and nurturing their credit reputation.

The lower the risk, the lower the premium

Where we live, the theft risk of the area and personal history of claims all affect our premium. To reduce premiums—clean out the garage and get the car securely parked in it, rather than on the pavement. Don’t have a garage? Install extra safety and anti-theft devices because a safer car = less risk = lower premium.

Once installed, inform the insurer of any changes to the policy, and request a revised quote. Not only will a vehicle tracking device lower the comprehensive car insurance premiums, but it will also help police recover the vehicle if stolen.

Combine insurance and ditch the whistles and bells

Not all car insurance policies are equal. While some come with added services and benefits at no extra cost, others charge for the same service. That means before you sign the dotted line, ask yourself whether one needs all those add-ons as this will affect the premium.

Also, many insurers offer a reduction for policies that cover several types of insurance, like household and vehicle insurance. You may also receive a discount if you have more than one vehicle insured with the same provider.

So, why did no one tell South African drivers about this? Probably the same reason they never told Jack about sites like CoverSearch.

Compare Rates with at least 3 Providers to get the most savings.

CoverSearch is a FREE, no-strings-attached online tool that helps put South African vehicle owners in touch with the best insurer for their needs and budget. Millions of South Africans are shocked when they learn how easy it is, paying less for car insurance.

It’s true. Car Insurance is affordable.

Do not let high car insurance premiums force you to cancel your insurance as Jack did. Not only did Jack lose his car, but he lost all the money paid to his insurance provider over the years before cancelling his policy.

If only Jack had known the above tips, he could have reduced his rates. Jack, like millions of other South Africans, would not have to rely on public transport today.

Are you ready to save money? Then put CoverSearch to the test.

Here’s how you do it:

Yes, You Probably Need Life Insurance—and Here’s Why!

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You have great dreams and hopes for your children. You dream of quality education, a beautiful home, and a family of your own. If you’re wondering whether it makes sense to buy Life Insurance, ask yourself these two questions: What would happen to those dreams if something were to happen to you? How would your family survive the loss of your income?

Life insurance is the most overlooked financial investment that families should make to protect their loved ones and their assets—but South Africans are dreadfully underinsured. Actuarial modelling shows that about 380 families lose a breadwinner every day in South Africa, and statistics show that over 40% of South Africans do not have a formal Life Insurance policy.

It’s easy to put off purchasing a policy—money is tight, and insurance can be confusing. But some cover is better than no cover. Here’s why you need life cover.

If you were to die tomorrow, who would assume your debt?

Death is unavoidable—and the least you can do for your family is secure their financial future. Whether it’s for replacing lost income, paying tuition or outstanding debts and loans, your Life Insurance policy will pay—hundreds of thousands of Rands, or even millions—at the exact time of need.

Your family needs assurance that the amount you have chosen will be there almost immediately. Even if it’s a small policy, Life Insurance can save the day for your surviving dependents.

Replace lost income

There are policies designed to protect against accidents, injuries, death, or when a disease throws us for a loop—but what if we lose our job?

Retrenchment is a reality as many anxiously wait to see if they are next. With businesses closing their doors at such a rapid pace, paired with SA’s rising unemployment figures, providers have filed the income cover gap.

Supplement your retirement goals

Since Life Insurance is an instrument that keeps you invested in the long term, you can ensure a regular income stream every month after you retire. Putting money in an annuity is like a pension plan; put in some money regularly and enjoy a steady income every month after retirement.

Over the years, Life Insurance has also evolved to provide options for building wealth through some policies tied to certain investment products that pay dividends based on their performance.

Build Cash Value

Term Life Insurance stays in place for a set period, but whole Life Insurance provides permanent coverage that ends if you cancel the policy.

Allowing you to build up cash value over time is an attractive prospect to many people, as cash value acts as an extra cushion for a financial emergency down the road.

Leave a healthy inheritance.

Like most parents, you want to know your children will be taken care of when you’re gone. You not only want them to get a quality education, but you want to leave extra for travel, marriage, and even venture capital.

If you don’t have any assets to pass on to your children, you can create an inheritance by buying a Life Insurance policy and naming your children as beneficiaries. That is a great way to set your kids up for a solid financial future and provide for any monetary needs that will arise.

Life Cover is more affordable than you think.

The rationale for Life Insurance is simple: It’s a way to protect family members financially should a provider unexpectedly die. A policy can help cover your bond, secure a quality education for your children, and safeguard your spouse from inheriting your debts. But with all these great benefits, many people assume the premiums are astronomical—especially today.

Life Insurance is not sexy. It’s not fun to talk about, and it’s not a process anyone enjoys. Most people avoid cover because of the cost—but life cover is often inexpensive. Term Life is less expensive than Whole Life, and the younger and healthier you are, the lower your premiums will be.

Insurance is a diverse industry. Some insurance providers are better at certain products than others, whereas others base premiums on age, job, health and lifestyle. A medical exam is often required to determine the best cover. Will it be Term Life Insurance or Whole Life Insurance? Below we take a look at the difference between both.

Whole Life or Term?

Recommended for standard Life Insurance needs, Term Insurance is a stripped-down model of Life Insurance. It offers cover at a fixed rate for a temporary period. If you pass away during the selected cover period, the insurance company pays your beneficiary a lump sum.

The annual premium for Term Insurance is always less than the whole life, lacking the investment component, but your premiums will rise once the term period expires.

Whole Life Insurance, on the other hand, offers lifelong cover – provided you pay your premiums. The investment characteristic means that premiums are higher than a Term Plan with the same face value. But you’ll receive a significant pay-out if you cancel the policy, and if you pass away, your beneficiaries will receive a substantial payment.

Tomorrow promises nothing to anyone, and Life Insurance gives you peace of mind knowing that if anything should happen to you, your Life Insurance will protect and provide financial relief for those who must weather the stormy seas without you.

South Africans Are Getting Life Cover of Up To 10 Million: Here’s How!

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Every parent has great dreams and hopes for their children—a quality education, a beautiful home, and a family of their own. But what would happen to those dreams if something were to happen to the breadwinner of the family? How would the family survive the loss of income? How would they pay their bills?

A policy could pay—hundreds of thousands or even millions of Rands.

There is no promise of tomorrow, and Life Insurance gives peace of mind knowing that should anything happen to the provider, there will be money to look after the dependents. It protects family members financially by replacing lost income from injury, disease, death or retrenchment. It can cover a bond, secure a quality education for children, and safeguard a spouse from inheriting debts.

Life Cover in South Africa is more affordable than you think.

A Life Insurance policy could pay—hundreds of thousands, or even millions of Rands—at the exact time of need. But Life Insurance in South Africa is one of the most crucial, overlooked financial investments. Many South Africans believe that a policy is unaffordable. As a result, many families are heavily uninsured, leaving their surviving dependents open to hardship and distress.

Be Life Confident with CoverSearch

But there’s good news: Families and singles throughout South Africa could get a policy with very high cover from as little as R152 per month*. With the help of CoverSearch—a FREE online insurance comparison service, South Africans can now get the best Life Cover quotes.

In as little as a few minutes, it’s now possible to qualify for family cover of up to R10 Million. Sound too good to be true?
Get a Life Cover quote in minutes. It’s as easy as your ABCs
Life Cover rates have dropped over the past few years, and CoverSearch have rounded up all the top Providers with the best, most affordable rates and offerings.

Thanks to CoverSearch, thousands of satisfied South Africans are not only receiving fast, FREE Life Insurance quotes, but they are taking advantage of these affordable, high-paying Life Insurance policies.

Do not wait for a life-changing experience to consider Life Insurance—be life confident with CoverSearch and get it now.

Skudu Match—A New Era in Grain Marketing

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As a farmer, you no longer need to struggle to sell your harvest. You can now sell directly to buyers through the use of a Smartphone App called Skudu Match.

A new era in grain marketing / revolutionizing how farmers execute their grain marketing decision, Skudu Match is a FREE App that runs on a cash market. Selling and buying take only four easy steps.

1. The First Step is to create Scouts: This is where you will list your location and planned crop, and buyers list their location and desired produce to purchase. Skudu Match will then create an algorithm that permanently matches your scout to a nationwide network of eligible buyers who need your produce.

2. The Second Step is to create a Lot: Here you will provide the market with the finer details and specifics about your harvest and exchange. To create a Lot, you will be required to tell the market about the 5 Ps and 2 Qs. They are for example:

Product: Yellow Maize, wheat, or soya beans etc)
Position of availability: Ex silo, Bultfontein
Period of availability: 1 July 2021 to 31 July 2021
Price: R per ton of R per basis.
Payment terms: Payment after proof of payment
Quality: YM1
Quantity: 200 Metric tons

Skudu will then use this data to create algorithms that match the timing between Farmer and Buyer.

3. The Third Step is Negotiation: Once matched to prospects, you will be required to negotiate the 5 P’s and 2 Q’s until you have a perfect Skudu Match. Only then will you and the buyer reveal identities to each other.

4. The Last Step is where you and the buyer sign a contract.

With predictions showing that Africa will need to produce more food by 2050, the race is on to find solutions that will transform the selling and buying of agricultural produce.

If there was ever a time for a FREE App that links South African farmers and buyers to each other—the time is NOW. Free and easy to use—Skudu Match provides visibility which makes scouting easy for buyers. It puts South African farmers on a level playing field where numerous buyers can access their products.

Start selling or buying by simply downloading the application.

Insurers Do Not Want You To Know This: How to Pay Less for Vehicle Insurance?

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Are you one of the millions of South Africans feeling the effect of an insanely high car insurance premium on your pocket each month, or are you one of many vehicle owners forced to choose between paying school fees or vehicle insurance?

Before the COVID-19 pandemic, Jack was already struggling to pay his debts. Working hard as an accountant in the city, Jack was the provider for a family of five. Over the years, Jack managed to cover all his debts each month, with no money left for savings.

But in 2019, Jack had to make some serious financial decisions when his employment contract changed from full-day to half-day. Jack lost half of his salary and could no longer keep up with all his debt payments, forcing him to cut loose various services that he could no longer afford. Unfortunately, car insurance was one of them.

As luck would have it, a year later, someone stole Jack’s vehicle from outside his home. Not only did Jack become another vehicle-theft statistic, but he also became a no-insurance statistic. Jack, a hardworking family man with an accounting degree, now had to rely on public transport.

Insurance is invaluable. Yet, around 65% of South Africans are driving without insurance

Statistics show that South Africans are teetering on the edge of insolvency, with around 75% of household income used to service debt. In the same vein, statistics from the South African Insurance Association shows that only about 35% of vehicles on roads are insured, which means nearly 70% of South Africans are driving without insurance.

Vehicle insurance rates have become a budget pain point for millions of South Africans like Jack. But South Africans can actually afford vehicle insurance. In fact, not only can South Africans afford car insurance, but they have the power to bring their premiums down.

Here’s how?

Compare comprehensive insurance quotes

Industry experts say that one way to keep premiums down is to check the market value of the car against the insured amount and then compare quotes from different insurers to find the most affordable comprehensive insurance to meet the budget. Need a FREE vehicle insurance comparison quote from the top five providers to see how much money you could save? Use coversearch.co.za and get a quote within minutes.

Maintain zero insurance gaps and keep good credit

While gender, age, lifestyle, vehicle model and price are huge premium influencers, another key to a lower monthly rate is to drive a comfortably affordable vehicle. Providers also look at insurance history. Similar to medical cover, vehicle insurance providers dislike insurance gaps, and they are equally cautious of those with negative credit reports.

Consistency is important to providers as research shows that consumers who effectively manage their credit responsibly have fewer claims. This means that South African drivers can reduce their monthly premiums by paying bills on time and by nurturing their credit reputation.

The lower the risk, the lower the premium

Where we live, the theft risk of the area and our personal history of claims all have an effect on our premium. To reduce premiums—clean out the garage and get the car securely parked in it, rather than on the pavement. Don’t have a garage? Install extra safety and anti-theft devices because a safer car = less risk = lower premium.

Once installed, inform the insurer of any changes to the policy, and request a revised quote. Not only will a vehicle tracking device lower the comprehensive car insurance premiums, but it will also help police recover the vehicle if stolen.

Combine insurance and ditch the whistles and bells

Not all car insurance policies are equal. Whereas some come with added services and benefits at no extra cost, others charge for the same service. Before you sign the dotted line, ask yourself whether one needs all those add-ons as this will affect the premium. Also, many insurers offer a reduction for policies that cover several types of insurance, like household and vehicle insurance. You may also receive a discount if you have more than one vehicle insured with the same provider.

So, why did no one tell South African drivers about this? Probably the same reason they never told Jack about sites like CoverSearch.

Compare Rates with at least 3 Providers to get the most savings

CoverSearch is a FREE, no-strings-attached online tool that helps put South African vehicle owners in touch with the best insurer for their needs and budget. Millions of South Africans are astounded when they learn how easy it actually is to pay less for car insurance.

It’s true. Car Insurance is affordable.

Do not let high car insurance premiums force you to cancel your insurance as Jack did. Not only did Jack lose his car, but he lost all the money paid to his insurance provider over the years before cancelling his policy. If Jack had known that he could have reduced his rates by following a few of the above simple actions, Jack, like millions of other South Africans, would not have to rely on public transport today.

Are you ready to save money? Then put CoverSearch to the test.

Here’s how you do it:

South African Entrepreneurs are Rushing to Restructure their Business—Here’s why!

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As a result of the economic and social consequences of COVID-19, choosing between restructuring and a permanent total shutdown is a reality for many businesses. Here’s why the correct Business Structure to your business idea is so critical.

In South Africa, for every success story, several businesses do not make it through the first two years.

To survive and thrive, businesses need a lot more than an exceptional product, service and online presence. Entrepreneurs must structure or restructure their business correctly.

You wouldn’t start a business if you didn’t think it could work, right? Well, that’s what Christiaan Pieterse and Meryl Watson thought too. Christiaan Pieterse traded out of a sole proprietorship.

Christiaan never sought the advice of a professional who could tell him how to protect his business and family if something were to happen to him. Sadly, when Christiaan passed away suddenly, his business came to a permanent standstill, leaving his family destitute.

Meryl Watson was in no better situation. Meryl traded out a private trust with the incorrect beneficiary structure. As a result, this had a detrimental effect on Meryl’s tax choices, causing her to lose hundreds of thousands of Rands that could have been used to pay off her bond and daughters university fees.

If Meryl had listened to the advice of a legal business advisor when she started her business, not only would her home be paid off in full, but she would have a savings pocket today.

The right legal business structure is of great importance. Life, the economy, profit margins, partnerships or new ownership can cause changes that can either leave entrepreneurs in debt or families hundreds of thousands or millions of Rands out of pocket. It happens, but success happens too—especially to those that “structure for success.”

The sooner we restructure—the better

Business structure is critical, and to survive and thrive, entrepreneurs must routinely review and assess their current position, business goals, and turnaround strategy, for moving forward in times of a crisis. While the incorrect legal structure can send any business to its knees, the correct legal structure can allow for:

• Efficient business continuity
• Massive savings on administration
• The opportunity for finance; and
• Tax for both the owner’s income and the business.

Every business idea is unique. Just as ideas differ, so does the legal structure that holds a business together. Here are a few examples of legal structures:

1. Sole proprietorship—easy to form and offers complete managerial control to the owner. However, the owner is also personally liable for all financial obligations of the business.

2. Partnership—used by doctors, lawyers and auditors, this structure involves two or more people who agree to share in the profits or losses of a business.

3. Private Company (Pty Ltd)—the preferred choice of both foreign and local entrepreneurs, this structure requires only one shareholder and one director. Considered as a separate legal entity, a private company is taxed in its own right, which offers shareholders protection against liabilities.

4. Public Company (Ltd)—with the intention to raise money, this structure offers shares to the general public. As a separate legal identity, this company is taxed in its own right, offering shareholders protection against liabilities.

5. Trusts—a magnificent vehicle to hold wealth, this non-profit business structure is not suggested for trading but for supporting disadvantaged people or cultural activities. Apart from reasonable compensation for services rendered, stakeholders do not receive property or income from the company.

Just about every business in South Africa faces an uncertain future. But South African entrepreneurs can maximise their chances of survival—and a great place to start is with an honest assessment of their business and environment.

Take the Business IQ quiz and see how you fare.

South Africans Started Shopping for Better Premiums When They Read This!

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Is your car insurance lying idle? Hold on. You’re working from home now. So, remind us why you’re still paying high insurance premiums each month?

In the wake of lockdown, many South Africans are caught in the struggle to keep up with their monthly payments— and car insurance is the first thing that falls away when the going gets tough. As the need to drive decreases due to remote working, you may feel as though you’re overpaying your premiums or wonder why you’re even paying your premiums at all?

Take Joe Flanigan, for instance.

Joe, a builder with a white Honda bakkie, lost all his contracts because of COVID-19. Not only did lockdown prevent Joe from running his business, but the economic effect left many homeowners thinking twice about using Joe for their renovations. Joe did what any other desperate father of three would do and cancelled his car insurance. If only Joe could have foreseen the hailstorm that left his Honda, looking like it belonged on a pitching range. That day, Joe lost his vehicle and his business.

Over 30% of South African Vehicles are Uninsured

Car insurance is not a luxury. It’s an essential fiscal tool that can be the difference between a set of wheels and no wheels at all. In our downturn economy, South Africans do not want to spend more than they need to on car insurance, but just because less mileage means less risk, doesn’t mean you should scrap your car insurance altogether like Joe. With over 30% of drivers on the road without insurance paired with South Africa’s high motor vehicle accident rates and vehicle theft rates, motorists still can’t afford to not insure their vehicles.

Drive Down Monthly Premiums to Suit Your Vehicle and Wallet. It’s Easy!

Your vehicle is one of the most valuable investments you will ever make. That’s why having the right car insurance with premiums you can afford is essential. Even if you’re not financially challenged by lockdown, you will find yourself in a much healthier economy afterwards.

So, before you jump the gun and cancel your insurance altogether, rather drive down your car insurance premiums and save thousands of Rands annually—while still protecting your vehicle and your bank account.

Reduce Cover from Comprehensive to Limited Cover Temporarily

Does comprehensive car insurance, third-party cover or something in between better serve your needs? Car insurance is not an all-or-nothing scenario. For vehicle cover, there are plenty of options to choose from, so it’s essential to balance your financial and car insurance needs.

If you own your vehicle outright and you’re a low mileage driver with a lock-up garage, you can reduce your premium by changing the cover from fully comprehensive to third party fire and theft. And once you’re ready to go back onto accident cover, you can change your policy back to fully comprehensive again.

Increase Excess Payment In line with Reduced Risk

Your excess affects your monthly car insurance premium, and by raising your excess, you lower your monthly payments. It’s an excellent tactic to both reduce your payments and save you money. But, if you increase your excess, you must prepare to cough out that exact amount if you’re in an accident and make a claim.

Statistics show that accidental damage, theft and robbery claims decreased over lockdown. This means if you’re struggling to pay your premiums, and your vehicle is paid off and parked in a garage, now would be the time to raise the excess.

Increasing your excess will decrease your monthly premium, but you would have to lower your risk profile. You can do this by keeping your car inside a secure property with an electric fence, an alarm system, and a lockable garage.

Do Your Research with Comparison Sites like Mi.Finance

There are dozens of insurance companies, new and old, and large and small, vying for your business with multiple varied policy options, some with discounts. Because insurers determine premiums using different algorithms, the price differences can be huge, even for the same policy.

Mi.Finance get that it’s tough to figure out who’s offering what, which is why we tested the car insurance waters to bring you the best deals from multiple online insurance providers, all in one place.

Are you ready to save money? Then put mifinance.co.za to the test.

Purchasing a Home is a Big Financial Commitment. The Once Off Costs Explained.

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In today’s economy, buying property is not only one of the best investments you can make. It is also one of the most exciting. Property prices and interest rates are the lowest it’s been in 50 years, which means now is the best time to snap up a desirable bargain.

Property is the most valuable investment you’ll ever make – but with every investment comes costs. That listed price on that sprawling family ocean-view home you saw on that property website is not giving you the full story of how much you will need to cough up when buying that house.

Other than the cost of the property itself, the bond registration and transfer costs—which are unavoidable, there are other costs that you will need to pay before the Deeds Office can approve the sale. To prevent excitement from turning into a tragedy, Tyson Properties takes you through the once-off costs involved so you can better prepare.

1. A Deposit in Hard Cash

A deposit is an amount you should’ve saved up for as an initial payment for your home. It mentally prepares you for your home repayments, and it ensures that your repayments are manageable. Banks often demand a deposit between 10% and 20% on the purchase price of the property, but this will depend on your credit score. You will pay the deposit to your conveyance attorney who will keep it in a trust account to accrue interest until the transfer takes place.

2. Transfer Duty Tax to SARS

After your deposit, transfer duty is the next big-ticket cost. Transfer Duty, which is payable by you, on any property over R1 million, is a Tax that the Government charges on property transactions. Transfer Duty Tax works on a sliding scale—the higher the value of the property, the higher the percentage of duty payable. As a buyer of an R2 million property, you can expect to pay a Transfer Duty of R 50,250.00, of which you must pay upfront to the Transferring Attorney who will then pay it over to SARS on your behalf.

Tip: See the SARS website for 2020 transfer duty rates based on property price

3. Transfer Fees: Bond Registration and Transfer of Ownership

Dissimilar to Transfer Duty, Transfer Costs are the legal fees that your Conveyancing Attorney will charge you to register your bond and to transfer the ownership of the property into your name at the Deeds Office. This once-off fee will include registration, ownership, postage, disbursements, and the Deeds Office Levy fees of around R2 500.

These costs vary depending on the value of your home loan, but on a bond of R2 million, you can expect to pay transfer fees of around R 27 600.00.

Tip: See Tyson Property Bond calculator

4. Bond Initiation and Administration Fees

When taking a loan, the bank charges a once-off fee for the initiation and ongoing administration of the bond. It’s a fee regulated by the National Credit Act—and set at a maximum of R6 000. Keep in mind that if the bank rejects your loan application, you will still be liable for this fee. Because this fee covers the bank to process your home loan application, you can either pay it upfront or add it to your loan amount.

Tip: Try the Tyson Property loan calculator to get an estimation of transfer costs.

Are you financially ready and prepared?

Purchasing property is one of the biggest undertakings and investments you will make in your lifetime and realising the true cost of buying a home will enable you to budget appropriately.

Pet Insurance You Can Love From as Little as R6/day

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If you’re like most South Africans, chances are your pet is an important part of your family.

But have you ever considered what will you do if your beloved four-legged friend requires a hip replacement after a hit-and-run, or if your overzealous terrier were to give the little girl across the road an unwelcome love bite?

Could you come up with R10, 000 at the drop of a hat?

Veterinary costs have increased by 15% over the last year, and paying a king’s ransom for an ear mite infection, broken leg, or covering the medical cost of another dog is not an expense you want to be saddled with.

That’s where pet insurance comes in. Just as human health insurance is designed to bridge the gap between needed cost and care, pet insurance can offset the financial burden of unexpected injury or illness to our pets.

Pet insurance can cover the daily costs of keeping your pet healthy and happy, and it can cover the costs of veterinary care or medication.

Think about it: a pet dog or cat requires a financial and emotional commitment of anything up to 20 years. Jack, the Fox Terrier you got your little girl when she turned five, could still be around when she graduates from high school, or even university, by which time will undoubtedly be frail, requiring frequent—and expensive visits to the vet.

Wouldn’t it be so much easier to stomach a small premium each month than fork out thousands or more?

Getting a sick pet back on their paws can tax, not only emotionally but also on your budget. Sterilization, de-worming and vaccinations can easily set you back R4, 000. The cost of x-rays, medication, treatment and surgery for a broken leg or pelvis can easily cost up to R40 000. Vet costs from eating chocolate, poison or medication can range between R2 000 to R30 000.

Over 10% of veterinary treatment cases result in a pet being put to sleep each year—because their owners couldn’t afford their treatment. Pet cover takes the bite out of paying out of your pocket. It empowers you to not have to choose between your financial stability and your pet’s life.

The big question is—which pet insurance company has the right cover for you?

You can get pet cover for as little as one cappuccino a day

If you want to avoid massive veterinary costs and would like to explore the option of pet insurance, ProudDad.co.za provides a fantastic service that can match you up with the best provider.
We’ve reviewed all the top insurance companies based on price, coverage, pre-existing conditions, and exclusions and more to find the right choice for your best friend.

How do we do this? Take our quick quiz.