Generational wealth isn’t only for the wealthy, it’s for everyone! With the 1L Gen W Plan you can start building generational wealth for your family, today! Let’s take a closer look at how it works.
What is the 1L Gen W Plan?
The 1L Gen W Plan will help you build generational wealth using any combination of life, funeral, disability and dread disease cover. Your 1L Gen W Plan is:
- A cost-effective step you can today take to build generational wealth
- Tailored to your needs and budget
- Affordable – starting from R200 a month
What is generational wealth and why is it important?
Generational wealth is wealth that is passed from one generation to the next. It includes:
- Savings and investments
- An insurance portfolio
- A family-owned business
- Valuable possessions such as artwork, antiques, or jewellery
Families with generational wealth have a head start over families that don’t - and much less financial stress! Think of your generational wealth as making sure your family and their children have more financial security and stability than the generations before you. For example, if your family has a home, fully paid for, and left to them, they not only have somewhere to live, but they also have more available cash because they are not paying off a home loan. They can use these extra funds to invest, grow a small business or even buy a second property!
Generational wealth is built by taking small steps – paying down debt, investing a small amount each month, saving for a deposit on and buying a family property, investing in a good education for your children, and improving your financial skills. And of course, starting an insurance portfolio with the 1L Gen W Plan.
Do you want to learn more about generational wealth and how to build and preserve it? Take a look at our comprehensive generational wealth guide, which also has some great tips and inspiring stories!
Top tip: Learning more about money and how to manage it will help you build and preserve generational wealth. Truth About Money’s free online financial education course is a great place to start!
What is the role of insurance in generational wealth?
Life insurance, as well as funeral cover, disability insurance and dread disease cover, are critical components of your generational wealth plan and will help keep your wealth building plans on track - even if the worst happens.
Life cover, for example, will ensure your family has funds to cover living expenses and the costs of a good education if you pass on. It could also secure the family home for future generations. Now that’s a real boost to generational wealth
Funeral cover will ensure that you have funds to pay for a funeral and won’t have to go into debt or dip into savings to pay the burial service costs.
Disability cover will ensure you have funds to pay for any home adaptations and living expenses if you are permanently disabled.
Dread disease cover will pay-out on the diagnosis of a dread disease, ensuring you can pay medical expenses and have funds for daily expenses if you are unable to work and earn an income while undergoing treatment. Both disability and dread disease cover will ensure that you don’t have to get into debt to make ends meet if you are ill or disabled.
Get your 1L Gen W Plan
One of our skilled consultants is ready to help you tailor your plan to suit your needs and your budget! Send us a call me back and our team will be in touch!
Protect those you love and build generational wealth with your 1L Gen W Plan
Your 1L Gen W Plan is a cost-effective step you can take today that will help you build generational wealth for your family for years to come. Why not take that step right now?