Medium- to long-te rm sa vings
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