{"id":1291,"date":"2017-03-29T10:10:36","date_gmt":"2017-03-29T08:10:36","guid":{"rendered":"https:\/\/www.namfisa.com.na\/educates\/?p=1291"},"modified":"2025-07-17T13:50:11","modified_gmt":"2025-07-17T11:50:11","slug":"shopping-around-for-insurance","status":"publish","type":"post","link":"https:\/\/www.namfisa.com.na\/educates\/shopping-around-for-insurance\/","title":{"rendered":"Shopping Around for Insurance"},"content":{"rendered":"\t\t
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A Christmas Well Spent & Lessons in Financial Wellness<\/h3><\/span><\/div>
What can you say is a Christmas well spent?
\nI personally feel a successful Christmas is in essence being surrounded with family and friends.
\nWhen you are in the presence of people whom you hold dearest, the atmosphere is warming.
\nI think the gathering of loved ones to appreciate and share the one moment in the year all the family are together is precious.

\n\nDo you sometimes feel happy or guilty about spending money on yourself?
\nYou know I always say there has to be a balance in life. To find the right balance that works for you is important.
\nIf you choose to spend money on yourself, then spend wisely and in moderation.
\nIf you know that you don\u2019t have enough money to be spending on yourself, then don\u2019t.
\nIf you know that it won\u2019t impact your financial situation in the long run, then it\u2019s okay.

\n\nWhy is it ok to spend money on yourself?
\nYour financial stability should be taken into consideration when you evaluate if it is right for you to spend on yourself.
\nBudgeting is extremely important when deciding if you can afford an item or not.
\nI feel if you do have the finances to purchase a desired product and it won\u2019t affect your long-term finances, then go for it\u2014use it as a reward system.
\nIf you feel that specific purchase will hurt your bank account and leave you with cash flow issues, paying bills, and affording the basics, then rather wait until your financial situation improves.

\n\nWhat was the biggest spending regret over the previous Christmas?
\nIt would be the social spending; I spent far more than I expected socialising with friends and family.
\nI did not have a clear budget for entertainment from the start of the festive season, so my spending was not controlled.

\n\nDid all your Christmas spending go according to plan\/budget?
\nThe problem with the Christmas period is that most people, including myself, get excited and carried away because it's only once a year.
\nSo we allow ourselves to create an exception with our finances.
\nWe create an excuse for excessive spending\u2014\"I mean, it only comes around once a year, right?\"
\nThese excuses expand to all spending categories: presents, food, entertainment, and travel, which we allow to go over budget.
\nSo when it comes to the festive season, I would recommend creating a plan of expenditure in order to control where your money goes.
\nYou don\u2019t want to be in a dilemma when the New Year starts and not have funds for the basics.

\n\nWhat is your personal financial motto?
\n\u201cMaking money is easy, keeping it is the hard part.\u201d

\n\nGive a word of encouragement on financial recovery?
\nListen\u2014everyone in their lifetime will make some massive mistakes.
\nThe problem is not making the mistake, it\u2019s understanding how you made that mistake and why you now find yourself in a financial dilemma.
\nIt\u2019s very important to admit that you are not perfect and mistakes will be made. That is life.
\nYou need to pick yourself up and start again. But before starting again, make sure you have learnt and promised yourself that this will never happen again.
\nIt's ok to fall\u2014it builds character. It\u2019s how you pick yourself up and never fall like that again that counts.

\n\n\u2014 Aaron Hamilton

\n\n\u201cWhen you are in the presence of people whom you hold dearest, the atmosphere is warming.\u201d

\n\nWe are all familiar with the January rush and stress by now.
\nFor some, it\u2019s just another month with more responsibilities.
\nFor most, it\u2019s \u201cJanuWorry\u201d \u2014 a month of worries.
\nFrustration creeps in when parents have to buy schoolbooks and pay school fees in a short period of time.
\nThe insurance industry also tends to be relatively quiet, affected by the reduced spending power of consumers who eagerly await the light at the end of January.

\n\nAs we embark on a prosperous new year, the importance of having insurance cover cannot be overemphasised, as this is also a critical element of financial planning.
\nThe Namibian insurance industry provides a wide range of insurance products, ranging from short-term (asset insurance for cars, houses, and other property) to long-term cover, better known as life insurance, which includes disability cover, death cover, and funeral cover.

\n\nFollowing are some of the basic tools that consumers can use when shopping around for insurance:
\n\n\u2022 Ensure that the insurance policy covers your needs. Before signing, read the key features thoroughly.
\n\u2022 If anything is unclear, ask the broker or agent to explain in plain language.
\n\u2022 When applying, answer all questions truthfully. Inaccurate info can void your contract.
\n\u2022 Only deal with registered brokers or agents. Ask for proof of NAMFISA registration.
\n\u2022 Compare premiums and policy benefits to get the best value for your money.
\n\u2022 Never sign blank application forms.

\n\nConsumers are encouraged to approach brokers, agents, and insurers to educate themselves about available products.
\nNAMFISA remains committed to ensuring that the insurance industry is well-regulated and consumer-friendly, under the Short-term Insurance Act 4 of 1998 and Long-term Insurance Act 5 of 1998.

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<\/h3><\/span><\/div>
\u201cMaking money is easy, keeping it is the hard part.\nAnd it\u2019s true\u2014saving, planning, and being financially responsible takes discipline.\"<\/div><\/div>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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<\/h5><\/div>
If you\u2019re recovering from a financial misstep, don\u2019t be too hard on yourself. Mistakes happen. What matters most is that you learn from them, pick yourself up, and move forward with better habits.\n\nAs we begin a new year, don\u2019t forget the importance of planning\u2014not just for holidays, but for your overall financial well-being. That includes things like insurance\u2014cover for your car, home, health, or life. Insurance is more than a monthly premium; it\u2019s protection for your future.\n

\nBefore taking out any policy:<\/div><\/div>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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  • <\/span>Make sure it suits your needs. <\/li>
  • <\/span>Give accurate information. <\/li>
  • <\/span>Only deal with registered brokers (ask for a NAMFISA certificate). <\/li>
  • <\/span>Compare options before committing.<\/li><\/ul><\/div>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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    <\/h5><\/div>
    Start the year right\u2014plan better, spend wiser, and protect what matters.\nBecause financial peace of mind is the best gift you can give yourself.<\/div><\/div>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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    <\/h5><\/div>
    Yours sincerely,
    \nGENERAL MANAGER: INSURANCE DIVISION<\/div><\/div>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"

    A Christmas Well Spent & Lessons in Financial Wellness What can you say is a Christmas well spent? I personally feel a successful Christmas is in essence being surrounded with<\/p>\n","protected":false},"author":1,"featured_media":1293,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_eb_attr":"","_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_EventAllDay":false,"_EventTimezone":"","_EventStartDate":"","_EventEndDate":"","_EventStartDateUTC":"","_EventEndDateUTC":"","_EventShowMap":false,"_EventShowMapLink":false,"_EventURL":"","_EventCost":"","_EventCostDescription":"","_EventCurrencySymbol":"","_EventCurrencyCode":"","_EventCurrencyPosition":"","_EventDateTimeSeparator":"","_EventTimeRangeSeparator":"","_EventOrganizerID":[],"_EventVenueID":[],"_OrganizerEmail":"","_OrganizerPhone":"","_OrganizerWebsite":"","_VenueAddress":"","_VenueCity":"","_VenueCountry":"","_VenueProvince":"","_VenueState":"","_VenueZip":"","_VenuePhone":"","_VenueURL":"","_VenueStateProvince":"","_VenueLat":"","_VenueLng":"","_VenueShowMap":false,"_VenueShowMapLink":false,"footnotes":""},"categories":[428],"tags":[],"class_list":["post-1291","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-long-term-insuarence"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.namfisa.com.na\/educates\/wp-json\/wp\/v2\/posts\/1291","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.namfisa.com.na\/educates\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.namfisa.com.na\/educates\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.namfisa.com.na\/educates\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.namfisa.com.na\/educates\/wp-json\/wp\/v2\/comments?post=1291"}],"version-history":[{"count":10,"href":"https:\/\/www.namfisa.com.na\/educates\/wp-json\/wp\/v2\/posts\/1291\/revisions"}],"predecessor-version":[{"id":35563,"href":"https:\/\/www.namfisa.com.na\/educates\/wp-json\/wp\/v2\/posts\/1291\/revisions\/35563"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.namfisa.com.na\/educates\/wp-json\/wp\/v2\/media\/1293"}],"wp:attachment":[{"href":"https:\/\/www.namfisa.com.na\/educates\/wp-json\/wp\/v2\/media?parent=1291"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.namfisa.com.na\/educates\/wp-json\/wp\/v2\/categories?post=1291"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.namfisa.com.na\/educates\/wp-json\/wp\/v2\/tags?post=1291"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}