Accounts payable: Money owed to other people or businesses. For example, when you buy clothes from a shop (Jet, Ackermans) and do not pay for it right away and have to pay it back every month. Asset: An asset is an economic resource that a) can be owned, and b) is expected to provide benefits Read more about A-Z of budget sheet[…]

Q: Should I know the Terms and Conditions of a contract that has not been provided to me? Is it my duty to ensure that the insurer provides me with the contract? A: Contracts differ according to financial industry services and products. • A long-term insurance contract is for a specific term of insurance and Read more about Frequently Asked Questions[…]

WHY DOES COVER LAPSE AFTER FAILING TO PAY ONE PREMIUM? IS NAMFISA INVOLVED IN THE APPROVAL OF PRODUCTS SOLD VIA TELESALES? WHAT IS NAMFISA DOING TO PROTECT THE CONSUMERS FROM FALLING PREY TO UNSCRUPULOUS AGENTS? WHY DO YOU ACCEPT THE ASSESSORS REPORT AS FINAL WITH REGARDS TO A CLAIM? WHY CAN I NOT CHOOSE MY Read more about FREQUENTLY ASKED QUESTIONS[…]

Q: Why does my cover lapse after missing one premium payment? Q: Why can I not choose my preferred legal practitioner to be paid from my legal cover? A: A contract usually stipulates when cover will lapse if no premiums are paid. One should remember, however, that premiums are paid in advance. Consequently, should payment Read more about FREQUENTLY ASKED QUESTIONS[…]