Medium- to long-te rm sa vings

Finweek English Edition - - INSIGHT -

Scholtz- Mare rec­om­mends an en­dow­ment or ed­u­ca­tion plan, which is a fixed-term in­vest­ment plan usu­ally for a pe­riod of five years or longer. This type of pol­icy will have penal­ties if can­celled prior to the end of the con­tracted pe­riod. Scholtz- Mare be­lieves this is a good op­tion for the less dis­ci­plined in­di­vid­ual be­cause it is not easy to ac­cess the money you have al­ready saved.

Life funds that of­fer a min­i­mum guar­an­tee are also avail­able from life as­sur­ance com­pa­nies. Mbuya says many of th­ese of­fer pro­tec­tion of the pre­mium if a par­ent dies or be­comes dis­abled

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