To best benefit from your money management efforts, the attitude you have towards finances needs to start off on the right foot.
The general attitude you have towards money often determines how you handle your finances every day.
So, what is ‘financial attitude’ and ‘financial behaviour’?
- Financial attitude: This refers to a person’s state of mind about money and financial matters, which stems from past learnings.
- Financial behaviour: Quite simply, financial behaviours are a product of your financial attitude. This refers to the actions you practice, including how you practically use money on spending, saving and investing, among other things.
How we were introduced to money matters has an influence on the attitude we develop about finances. This also has an influence on the extent to which we associate money with lifestyle and ‘quality of life’.
What can behavioural finance teach us?
With financial attitude directly linked to financial behaviours, the mind-set that we have in managing our finances has a direct impact on our overall quality of life. Healthy financial behaviour enables you to better position yourself in building a reserve, ensuring financial resilience in tough circumstances.
Another way to add resilience to your overall financial plan or portfolio is through life insurance, which can be an important part of a sound financial plan.
Discovery Life Plans are designed to protect you at every stage of your life. They provide you with benefits that change throughout your policy term, ensuring that the Life Plan stays relevant to your needs, regardless of your circumstances.
Living a healthy lifestyle and managing your money well provides you with a valuable opportunity to save in a way that can help to add real value to your life – both now and later.
Get the discount that offers the best of both worlds
Discovery Life has an array of products to help you proactively take care of our own future.
The product offers you not only market-leading and award-winning comprehensive cover, but also rewards you for taking proactive steps to improve the quality of your life. One such value-added benefit on offer is the Bank Integrator.
By taking out a new life policy and activating the Bank Integrator on your Discovery Life policy, you can save as much as 15% on your qualifying premiums, with this discount being sustainable for the entire policy duration.
In addition, between 1 April 2021 and 30 June 2021, all new Discovery Life policies that include the Bank Integrator will receive the added advantage of the Bank Fee PayBack limited offer, allowing you can get back up to 100% on your Discovery Bank account fees for the first three years of your Discovery Life policy.
Market-leading insurance cover that rewards proactive living
When you link your Discovery Life and Discovery Bank products, you also gain access to the Vitality Fund. This gives you extra life cover for no additional initial premium, allowing you to create a safety net you may need at some point in life. It’s a rewarding benefit that gives you real value for proactive health and financial behaviour.
“With the Vitality Fund, you can earn additional life cover with no added underwriting necessary, at no additional initial premium. Now, that’s real value anyone can benefit from,” says Discovery certified financial adviser, Claire van Wyk.
The Vitality Fund is structured to ensure that you have the opportunity to earn additional cover of up to R2 million, should all of the qualifying criteria be met. Premium discounts apply on an ongoing basis with upfront benefits too.
Find out more about Discovery Life’s rewards and offers.
Discovery Life Limited. Registration number 1966/003901/06, is a licensed insurer, and an authorised financial services and registered credit provider, NCR Reg No. NCRCP3555. Product rules, terms and conditions apply.