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Why do South Africans buy so much funeral insurance, and the same attitude doesn’t translate to buying insurance for their homes, cars, and valued assets? Let me hear your thoughts
#TIA2026
Next Saturday suddenly feels unbearably far away but @TheInsuranceBae has spoken and now the entire country better clear their schedules, TUNE IN and stay glued to their screens. #TIA2026@TheInsApp@etv
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@TheInsuranceBae I'm a customer asking you about medical insurance or gap cover and the person selling doesn't have that product or has a competitors product cause it's cheaper or allows for students or people in that salary bracket. How crazy is that.
@TheInsuranceBae Also people selling insurance also don't have insurance themselves and the companies don't give them the product as a company benefit so most of the people don't believe in what they selling and it shows.
@KhandaniM You've been in the space for a long time sir- why do you think the same value people place on funeral insurance doesn't translate to short term?
@TheInsuranceBae “Death is guaranteed” , yet we still take more funeral policies than life cover policies @OfficialRudyLJ brought to light some interesting perspective that deserves further thinking into ✅
@toxxicmaffia@Intemnandi I hear this,the flip side is people living beyond means also means they are in no position to recover should something go wrong- creating an even bigger financial hole (an example we see is paying for a car one no longer has because they wrote it off and there was no insurance)
@toxxicmaffia@Intemnandi Interesting- you reckon if the claims were paid out as settlements directly to the suppliers of the funeral service there would be a decline in take up (and surely the overinsurance we see in the funeral insurance space with multiple people insuring the same person/life)
@toxxicmaffia@Intemnandi True true
Really interesting that almost all the responses focuses on the claim- how inevitable it is with funerals and how it’s a (perceived unlikely) probability with assets.
It seems people don’t realise the wealth preservation value of insurance-is it not highlighted enough?
@AppleMokoena (I hear rumours of a social media-special reunion, where the Top 10 are gonna answer the real questions and tell all. Let me find out if that one is live)
@TheInsuranceBae We bury more people than we buy homes so the latter becomes inconsequential.
More often than not, the people we bury didn't make provision for themselves so we're lessening the burden on ourselves.
@mamchunu Also the burial is guaranteed, while the possibility of theft/accident/etc not as much, so I get this.
But it’s not just homes- cellphones, cars, heck even businesses go uninsured. Just trying to understand why we take the chance…
@MiladyMnyamane@MicahDaMusic Absolutely! So glad you took a swing at it again and came back- loved seeing more of you this year (and what you’re doing post the competition)
Im a fan