Add insurance to your New Year’s resolutions!

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What a lot of people fail to realise is that when you buy insurance, you’re buying a promise. It’s a promise that if something catastrophic happens to you or your business, your insurance company is going to assist you in the recovery process*.

There are various types of insurance products: life insurance plans, health insurance, home insurance, motor insurance, travel insurance and more. Regardless, the core of any insurance plan is to offer you protection.

Below are 4 great reasons to consider adding insurance to your new year’s resolution plans.

Secure Future Goals

Right now it may seem like you’re stable and secure, and you may very well be, but what will happen if you suddenly have to face the end of your life? Will your family be able to meet their future needs without you? A life insurance plan would ensure that your family is well taken care of even when you’re no longer around to do it yourself.

Peace of Mind

We’re sure you work as hard for yours as we do for our family. Because life is so ephemeral, we have more than enough reasons to worry about them. Insurance are highly imperative to secure the future of your family in your absence, as well as providing you with the peace of mind that you deserve.

Encourage Savings

This might come as a surprise, but insurance is actually a great investment channel as it facilitates systematic savings (by allocating funds in the form of premium every year). At the end of your policy term, you can reap the benefits by getting a lump sum pay out. It also encourages savings by reducing your expenses in the long run, and helps you avoid out of pocket payments for unfortunate events such as fixing your car following an accident and more.

Manage Risks

Here’s another interesting thing you might not have considered about insurance: it provides for an effective risk management in life. By allowing you to plan for the uncertainties in life. The risk of losing your car, of falling sick (at home or overseas), the risk of your own death and more can be dealt with an effective insurance policy!

Whether you are considering a life insurance plan, motor or health insurance, or even travel insurance at Sacos, we are here for you. Pay us a visit at our branches (Maison Esplanade – Victoria, Pension Complex –Baie St. Anne Praslin, Green Corner –Providence)  or call us on 429 5000 or send an email to info@sacos.sc.

*Terms and Conditions apply

 

Merry Christmas and all the things we should be thankful for

It’s that time of the year again already! As we get ready to celebrate with our loved ones, we pause and say thank you for everything that we have received, and all we have achieved this year: From our new offices, to the friendships and camaraderie we have between colleagues, to our faithful customers, we are thankful for it all.

If you have not had a great year in 2018, here’s a few things you may still have and should be grateful for:

Your family and friends

From the crazy inside jokes and embarrassing memories to heartfelt conversations, be grateful for family and friends that care for you. Many people do not have them.

Your Life

A lot of families will be spending Christmas without a loved one who didn’t make it this far, this year. No matter what you think of your life, you can be thankful that you are still around and can share one more day with the people who loves you the most in this world.

Your Strength

For your ability to keep going when the going gets tough! For being able to support a friend in despair, for that time you felt like giving up but didn’t. Celebrate and be grateful for your strength to face your troubles and overcome your sorrows.

Your Job

You can be thankful for your job no matter your domain or line of work. Appreciate the job that pays your bills and puts food on your table. It may not be the one you want yet, but it’s a stepping-stone to getting it. If you’re still working hard to land that dream job or to reach the highest echelon of your career, keep at it and your efforts will pay off.

Your Health

Be thankful that you are still in good health. If you have some health concerns, don’t delay and check them out quickly. This is also the time to steer yourself onto a healthy path and switch bad vices for good ones.

Your home and everything in it

This Christmas you can be thankful for the roof over your head, your lights that are still one, the potable water through your tap. For many others, this is a luxury they cannot afford. You can also do your part to conserve energy and water. You can also be thankful for your belongings: your bed, sofa, phone and everything that makes a home, a home. Everything that you own has a story. When you got it, why you got it, how you got it, when you used it – every little detail works its way to make your life more complete. Be grateful for those moments hidden in your belongings, but also grateful that you are privileged enough to have them.

If you can think of anything good in your life that you are grateful for, be thankful for those too. At Sacos…we are thankful for you. Have a very wonderful Christmas.

Travel with your kids like a pro

Traveling can be exhausting, especially if you have early mornings or late evening flights with long transit hours. Add children to the mix and your stress level might be through the roof!

As a passenger, you probably keep your fingers crossed that you’re not stuck next to someone with a child, but as a parent, you may feel the guilt and shame coming from other passengers. Nevertheless, with some advanced planning, it is entirely possible to reach your destination with all your hair firmly on your head, your sanity in tact and less reproaching looks from other passengers… well, almost.

Flight booking
Infants and toddlers below the age of two are often given a discount on most flights. This is due to the fact that they can be seated on their parents. Alternatively, you can purchase a seat for your child, but you would likely need a carrier (carseat) for safety. Your child is likely to feel more comforted (and calm) by being cradled by you, but then again, booking the seat next to you for your child, might prevent you from dealing with impatient strangers.

Seat selection
If your airline allows, select your seat online once the option is made available or with your booking agent. For parents with infants, it is better to seat infront where bassinettes can be made available. This will allow your child to sleep comfortably during the flight. Seating infront can also allow you to exit quicker while disembarking. Alternatively, you can seat close to toilets, especially if your child likes to go every 5 minutes and is also useful when changing diapers. IHowever, sitting at the very back of the plane may also be useful as you are likely to receive more help from nearby flight attendants.

Packing
Always bring more than you think you will need! This applies for diapers, formula, wipes and clothing. Load your bag with necessary items such as bottles, diapers and wipes which you can stow underneath the seat infront of you – this will prevent you from disturbing the passenger beside you by getting up often. Be sure to bring an extra pair of clothing for all the children and for yourself. Colouring books and individual packs of crayons are great for keeping little ones busy for a while. Some airlines will provide them, but just in case, pack your own toys. Other things to include can be the child’s favourite stuffed toy or book, but keep it light.

Check-in early
Some airlines offer online check-in to reduce waiting time in queues. You will simply have to drop off your luggage at a designated drop-off counter or at the check-in counter. This way you have plenty of time to double check seating arrangements and bassinet if travelling with a baby.

Before boarding
Security regulations in some countries require your shoes to be scanned so it definitely helps having shoes that are easy to slip on and off. While waiting to board, let the kids walk (or crawl) around as much as possible. They will tire themself out and will be more likely to sleep or stay quiet throughout the flight. Use the bathroom before boarding and change diapers, even if they seem to be clean.

Food
Always carry snacks! Preferably finger foods that are not sticky, crumbly or too messy. If travelling with more than one child, try to make sure there is more than enough for everyone. Liquid items are not allowed inside the airport, so if you bring juice boxes, make sure it is small and can be finished before passing through security. You can buy additional snacks once inside the departure lounge, .

Take-off and Landing
Chewing or sucking can help children and infants to equalise the pressure between their ears and the airplane cabin, especially during take-off and landing. To relieve pressure, you can breastfeed or bottlefeed your child, use a dummy or give them anything to eat, even gum works for older kids. The motion will help to pop their ears. If you can’t be amongst the first to disembark, let the other passengers off first. Don’t hesitate to ask for help if you need it, you’ll find that the ground staff are very accommodating. You might be stressed after having been in a long flight with a child so may be eager to disembark. Be sure to check the area around your seat and the hatch above in case you have not left anything behind.

Safety
Our biggest pro tip? Travel insurance! Nothing worse than something happening when you’re travelling with children. Travel insurance frees up space for you to worry about smaller, menial things. Should your child fall sick overseas, your travel insurance will cover the cost of medical attention for your child.

One last thing, flying with children is not easy, but you have paid for your children’s flight and no matter how exhausting it is, they have just as much right to be on that plane as the next person.


Call us on 429 5000 or send an email to info@sacos.sc for more information on our Travel Insurance.

What does Emergency Medical Assistance cover under the Travel Insurance Policy?

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What does Emergency Medical Assistance cover under the Travel Insurance Policy?

For those who have experienced it, falling sick overseas is one of the worst things that can happen to a traveller. These can include language barriers with medical professionals, lonesome with no family or friends around and anxiety, but even worse – lack of insurance coverage!

Those who knows will tell you what a medical bill for a foreigner is like. In Seychelles, we have the luxury not to have to deal with the medical cost behind our treatment, but this disappears the moment you travel without insurance.

Here is what is covered under the Emergency Medical Assistance with your travel insurance policy:

Medical expenses and hospitalisation abroad

This covers the cost of your treatment if you fall sick during your overseas travel (exclude pre-existing illness). There are different coverage plans depending on your area of travel or for more comfort, you may take the ‘Worldwide’ plan which provides you with coverage in any country you visit, with the exception of Seychelles. The coverage limit on the Worldwide plan is EUR100,000 meaning that we will cover your medical expenses up to that EUR100,000. The other plans include ‘Africa/Asia’ – USD15,000, ‘Europe Basic’ – EUR30,000 and ‘Europe Plus’ – EUR80,000. The ‘Africa/Asia’ and ‘Worldwide’ plan levies an excess of USD50 for outpatient treatment, whereas the Europe Basic and Europe Plus plan levies an excess of EUR50.

Emergency medical evacuation in case of an illness or accident

There may come a point where you will likely need to be evacuated for broader or more extensive treatment. In the event of such a need, your travel insurance policy will cover the costs of your evacuation, which would include airfares and other associated costs. All the plans will cover the real expenses associated to the evacuation, with the exception for the ‘Worldwide’ plan which cover the expenses up to a limit of USD35,000.

Emergency dental care

Unfortunately it has happened that travellers’ dental conditions worsen during their overseas trip. Instead of enduring the pain until your return, however long your trip is, the emergency dental care will cover dental treatment up to a limit. Keep in mind that this does not cover the cost of cosmetic treatment and pre-existing conditions.

Repatriation of mortal remains

Sadly, for whatever reason, some travellers come upon their untimely death while on overseas travel. It is usually left for your parents or family to bear the burden of the cost of bringing your body back home, as quickly as possible. This burden may be too huge for most families to bear because on top of that, they have to make arrangements for your funeral service back home. It would minimise the financial burden off your family if you could provide for such an eventuality.

Emergency return home following death of a close family member

The death of a close family member when travelling is actually quite a common occurrence. Unfortunately, many people struggle to cover the cost associated with returning home especially if alternative travel means have to be made, having already spent a substantial amount on the overseas travel for accommodation, airfares and other expenses. With a travel insurance policy, this cost will be covered under your plan and for the same class ticket you initially booked.

Compassionate Emergency Visit

Indeed falling sick overseas can be lonesome and having a family with you can help you in dealing with the anxiety and depression from your illness. Your travel insurance policy allows one of your family to accompany you during your hospitalisation. The policy will cover the cost of airfares, accommodation and a subsistence allowance for a maximum of 10 days for the visiting family, conditions apply.

Do not waste any more time!. For more information on our travel insurance, contact us on 429 5000 or send an email to info@sacos.sc.

15 ways to ensure safe and worry free travels

For the most part, traveling all over the world is very safe, but just because you are going away does not mean you should throw all caution to the wind!

Here’s our list of safety precautions you should consider:

Get the appropriate vaccines:Make sure you understand the health concerns of the country you are going to visit. For example, if you are travelling to Ethiopia, you must have a yellow fever card.

Use licensed and regulated businesses: It is much safer to use taxis, UBER or other regulated means of public transportation.

 Travel light: It’s so much easier to keep a close eye on your personal belongings when you don’t have a lot of things to carry around, especially on a crowded bus or train.

Carry your passport around: It is safer to move around with your passport as you may need it to identify yourself and to avoid the risk of misplacing it. However, if you know you will be doing an activity which may cause you to lose your belonging (e.g. paragliding), then it is preferable that you keep your passport in a safer place (e.g. hotel safe).

Keep a list of emergency numbers on hand: Your family, the police, emergency numbers, your embassy and your insurance company are all numbers you should have.

Avoid travelling with valuables: Keep your jewellery in a safe, or better yet, leave them at home! If you have to travel with some valuables, like your camera or phone, it is better to keep them out of sight when not in use.

Refrain from using your back pockets: It is easier for a pickpocket to steal your wallet or phone, if you place it in your back pocket, especially in crowded areas.

Be in the know about the safe and unsafe places. Find out as much as you can about safe places and risky areas. Research online and talk to the receptionist or concierge about places you should avoid.

Keep your drinks safe: Always keep an eye on your drinks! Do not accept drinks from strangers, and if your glass has been set down for a long period of time, discard it.

 Stay in touch with someone back at home: Don’t let long periods of time go in between communication. Make it a daily habit of sharing your whereabouts and your updated travel plans with a loved one back at home.

Avoid walking around at night, especially if you are by yourself. Overnighting in a bus or a car might have its advantages, but we always suggest you assess the risks well before jumping into it.

Cards over cash: It is more secure to use Credit/Debit cards that you’ve already got to your name as you can always have it blocked if anything goes south. Do keep some cash in lower denominations also for ease.

Avoid ATMs in secluded areas: Mugging is common in many countries. As much as you can, use ATMs in safe places, such as in banks or malls. Be sure to cover use your hand as cover when entering your pin.

Avoid remote areas: As much as exploring can be fun and adventurous, if you are more safety-conscious, it would be advisable to travel and visit crowded areas. Even when you are in a busy city, you should keep away from unknown streets or short-cuts.

Be smart and get yourself (and your family) insured: Travel insurance is a way to make sure that your travels, especially in an unknown nation, is protected, come what may.


Check out our new travel insurance promotion for this festive season and stand a chance to win lots of cool prizes, including a return trip to Colombo.

Pay us a visit at our new location in town or call us on 429 5000 or send an email to info@sacos.sc for more information on Travel Insurance!

 

Travel insurance upgrade!

Have you ever heard the story of the tourist in Sri Lanka that needed hospital treatment after a coconut fell on her head? Apparently she was reading a book under the shade of a palm tree when gravity played a cruel trick on her: coconut, meet head. Yes, it sounds dangerous and she could have been seriously hurt… But it does sound a little bit funny, doesn’t it? And you know what? Her insurance company covered her medical expenses!

The point is, in order to be able to laugh about silly accidents and funny encounters you need to feel safe. And this is what travel insurance does: it provides security. Which is why Sacos has recently upgraded its travel insurance policies to give you more benefits! Just recently, we saw a situation where a Seychelles Citizen was kidnapped and held for ransom in South Africa. As much as you never want to believe that these things can happen to you, you must always be prepared for the unexpected.

Our new policy cover now includes:

  • Hijack in Means of Public Transport
  • 24 hours assistance services
  • Delivery of Medicines (services only)

 As well as:

  • Medical Expenses & hospitaliSation
  • Emergency medical evacuation in case of Illness or Accident
  • Emergency Dental Care
  • Repatriation of Mortal Remains
  • Repatriation of Family Member travelling with the insured
  • Emergency Return Home Following Death of a close Family
  • Compassionate Emergency

 As a sensible person, we’re sure you will take any preventive measures you can. But most of these things are beyond our control. Travel insurance is just another sensible measure to take so you can enjoy your vacation and, every comical moment in between – worry free!


Pay us a visit at our new location in town or call us on 429 5000 or send an email to info@sacos.sc for more information on Travel Insurance!

Financial education: The pros and cons of a credit card

When I first got my credit card, I vowed I would never use it unless I absolutely had to. Let’s take a moment to laugh at my naiveté. Let’s be honest, a credit card is like having a license. It allows you to drive, and even when you know the speed limit, sometimes you tend to go over. We’ve all heard the horror stories; people who shopped themselves into insurmountable debt, and the eventual financial ruins that comes with debt.

Of course, we don’t believe in telling people how to spend their money. But we’re convinced that a little sensitisation goes a long way! With a bit of know-how, anyone can use a credit card in a practical, non-destructive way. Here are our identified pros and cons to shopping with a credit card:

The Pros

Emergency protection: Emergency fund is just that: money used for emergencies! A credit card can help you juggle unforeseen expenses when your account has been depleted. Or prevent it from getting there!

 Purchasing power: Online, in-store, overseas, at your local market, your credit card gives you purchasing power worldwide! It is especially handy when you’re overseas and do not have cash on hand.

Buy now, pay later: Credit cards let you buy now and pay later. If you are making large purchases on your debit card, once that money is gone, it’s gone. Buying now and paying later is a great way to keeping your account intact. And with a credit card, you also have the option of gradual repayment, so you’re not out of pocket.

 The Cons

 Interest:  A credit card’s interest rate is the price you pay for borrowing money. A high interest rate can drag you deeper and deeper in debt if you don’t pay off your balance quickly. You can avoid paying (high) interest on purchases if you pay your balance in full each month by the due date.

Ease of spending: You may be thinking that this should be up in the pros section, but having a credit card make it a little too easy to spend money. If you’re anything like me, it’s easy to pretend like you’re not spending real money when you’re not paying with cash. If you’re not careful, it’s easy to fall into suffocating debt. It all comes down to being careful with your money.

Destroy credit: What the credit card giveth, it can taketh away. Missing payments, going over your credit limit, or having too many credit cards can quickly put you in financial debt!

For some people, credit cards can be destructive. So long as you can use cards wisely, it is a very handy tool to have on hand, especially as you don’t know when you will need it the most.