Insurance

We must understand what exactly insurance is for - it covers our financial losses arising from certain events. Nothing more.

And there are ONLY two kinds of financial losses
a. extra expenses, i.e. medical expenses, repairing expenses, etc.
b. loss of income, i.e. job loss, loss of income generating assets, etc.

No matter what names are given to an insurance product, it essentially covers our
a. extra expenses and/or
b. loss of income,
arising from certain unfavourable events.

So, the coverage of your child education fund of an Education Insurance covers loss of income, just like any other simple life insurance. A life insurance for SARS , covers your medical expenses and loss of income just like any other life insurance plus medical insurance.

With this in mind, it is easy to cut through the craps of insurance speeches.

Investment links? That is investment, don't mix it up with insurance needs.
Cash value? That is for savings, we can handle it ourself, don't mix it up with insurance needs.

A simple and basic life insurance will do the job of insuring our possible expenses and possible loss of income perfectly well.

Personal Financial Planning: An Overview

Personal Finance A plan for life Young, free & single Married couple Happily single Retiring	Issues in life Buying a home Buying a car Getting married Chilren's education
Assets Building Human assets Paper assets Real estates Businesses Assets strategies Savings & expenses	Financing Credit card Home loans Getting a loan Getting out of debts
Assets Protection Life insurance Trust Special vehicles	Leaving a Financial Legacy Trust Will Assets arrangement Giving