Plandirect  By Financial Advisors & Brokers in RSA
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About

About Plandirect Service & Product providers Philosophy of providers Your rights as user of financial services   Plandirect embraces the changes on the technological front that simplifies the way that clients find their financial services solution, which saves them time, effort and money. However, the creators of Plandirect are very worried that quality of solutions offered by many direct financial services providers are gimmicks driven and the quality of solutions are often ignored and compromised! Plandirect want to invite you to instead of just buying a solution online or direct because of a very attractive gimmick advertised, use the tools provided on this website to empower you to make an informed decision when you seek a solution!

Service & Product providers

The Service Providers on our platform represents all the major Financial Services Product suppliers in South Africa. Because we believe you only need products with the correct definitions aligned to your unique need, that supplies benefits equal to the amount that is actually required and at the right price, we can truly shop for the product that will fit your profile.

Philosophy

Plandirect is a network of like minded licensed and experienced financial services providers with a ‘New Generation’ approach to delivering financial services to the users of this services. The approach is not only followed because of the new regulatory environment with all the emphasis placed on consumers and consumer protection, but it is a deep imbedded value system that places the emphasis on doing business in an ethical way. Our partners believe in: No misleading advertising It often just does not make sense how some companies get away with the way they advertise their products. People are encouraged from, 'not to use an advisor' to 'not to pay commissions' to … etc. The most worrying fact about this false and negative adverts is that many user believe the adverts. The more experienced people in the industry are worried about the advice that is in some cases being given as the truth.   The fact is that the definitions of the benefits and the terms & conditions for claims should be the true consideration points and not the unimportant facts that some adverts are putting all the emphasis on. How can you only sell the price and not the benefits real definitions, terms and conditions? Unfortunately the system is complaints driven and many client will only really know what they bought at the ‘cheap price’ when they want to claim! This will be the wrong time to correct the situation.   All our service providers only do dealings with major South African provider that lead the way with benchmark products. We will find the product for you that best addresses your unique circumstances, without any gimmicks. Determine true needs We believe you need an amount of life insurance equal to the amount that is actually required. Most financial service solutions can be quantified. Use our calculators to determine your unique needs with our user friendly DIY calculators. If you have any questions or need more information or advice, contact us.   Our partners believe in: Aligning client needs with products. Your unique circumstances and needs will indicate to us which one of the major product providers will address your needs the best. Products are developed for target market segments. This means that with our independent approach and with all the major product providers on our platform, we can find the product which best addresses your unique circumstances at the price that will suit your pocket. Fee for service approach Commissions and fees are traditionally determined by the size of the premium you pay. This means that if somebody buys a product for R 100 a month premium and another for a R 1000 monthly premium it could mean a difference of 10x more commission or fees for the bigger premium although the work done to effect the different product could have been exactly the same. Our approach is that you will only pay for the effort to implement your solution that could mean big saving on fees and or commissions which will be passes on to you. This savings you will receive from us will mean that you will pay less for quality product solutions.

Your rights

Your right to know the impact of the decision you elect to make! The financial services provider or insurer dealing with you must inform you of:     - The premium you may be paying; - The nature and extent of benefits you may receive.       If the benefits are linked to the performance of certain assets:     - How much of the premium will go towards the benefit? - To what portfolio will your benefits be linked?       The possible impact of this purchase on your finances;     The possible impact of this purchase on your other policies (affordability);     The possible impact of this purchase on your investment portfolio (affordability);     The flexibility of changes you may make to the proposed contract;     The contract terms of the product you intend to purchase.     (It is very important that you are quite sure that the product or transaction meets with your needs and that you have all the information you need to make a decision).   Your right when being advised to replace an existing policy   You may not be advised to cancel a policy to enable you to purchase a new policy or amend an existing policy, unless:   The financial adviser identifies the policy as a replacement policy.     The implications of cancellation of the policy are disclosed to you, such as:     - The influence on your benefits under the old policy. - The additional costs incurred with the replacement.     The insurer who issued the original policy will contact you.  You are advised to discuss the matter with its representative. Your right to be informed by the insurer   The insurer will forward to you documentation confirming policy details which will also include:-   The name of the insurer.     The product purchased.     The cost in Rands of the transaction and specifically:   - the loadings, if any - the initial expense; and - the amount of commission and other remuneration being paid to the intermediary. in the case of policies with an investment element, the ongoing expense and any other fees or charges payable.     The summary in terms of section 48 of the Long-term Insurance Act, 1998.     The contact number and address of the complaints and compliance officers of the insurer.     (The insurer may disclose the above information on a generic basis with additional policyholder specific disclosure).   Your right to cancel the transaction!   In most cases, you have a right to cancel a policy in writing within 30 days after receipt of the summary contemplated in section 48 from the insurer.  The same applies to certain changes you may make to a policy.  The insurer is obliged to confirm to you whether you have this right and to explain how to exercise it.  Please bear in mind that you may not exercise your right if you have already claimed under the policy or if the event, which the policy insures you against, has already happened.  If the policy has an investment component, you will carry any investment loss. Important warning   It is very important that you are quite sure that the product or transaction meets your needs and that you have all the information you need before making a decision. It is recommended that you discuss with the intermediary or insurer the possible impact of the proposed transaction on your finances, your other policies or your broader investment portfolio.     You should also ask for information about the flexibility of any proposed policy.     Where paper forms are required, do not sign any blank or partially completed application form. Complete all forms in ink, should you be required to physically complete documentation. Keep all documents handed to you. Feel free to make notes regarding verbal information, and to ask for written confirmation or copies of documents. Incorrect or non-disclosure by yourself of relevant facts may influence an insurer on any claims arising from your contract of insurance.     Remember that you may contact the FAIS Ombud, if you have any concerns regarding a product sold to you or advice given to you. FAIS Ombud details   The FAIS Ombud deals with complaints submitted to the Office by a specific client against a financial services provider. “Complaint” means a specific complaint relating to a financial service rendered by a financial services provider or a representative of such provider to the complainant.   Steps to follow:   1. Try to resolve the complaint with the responding party:     Before submitting a complaint to the Office, the complainant must endeavour to resolve the complaint with the responding party. The responding party has six weeks in which to resolve the complaint with the complainant. After receipt of the final response of the responding party, the complainant has six months within which to submit a complaint to the FAIS Ombud.   2. Contact the compliance officer:   If you don't get satisfactory results from step 1, you can contact the suppliers compliance officer and take the complaint up with him/her.   3. Contact the FAIS Ombud   If your compliant was not addressed to your satisfaction by the compliance officer you can contact the FIAS Ombud in one of the following ways:   FAIS Ombud details   Phone (012) 470-9080     Fax (012) 428-8000     E-mail info@faisombud.co.za     Website www.faisombud.co.za     Postal address PO Box 74571   Lynnwood Ridge   0040     Physical address Eastwood Office Park   Baobab House   Ground Floor   Cnr Lynnwood Road & Jacobson Drive,   Lynnwood Ridge,   0081 Ombudsman for Long Term Insurance details   The office for the Ombudsman for Long-term Insurance was established in 1985. The function of the office is to mediate in disputes between subscribing members of the long-term insurance industry and policyholders regarding insurance contracts.   Requirements for complaints submitted to the Ombudsman:   The complaint must be in writing, or with our assistance at telephone. Please provide us with the following information: policy number/s;   insurance company; policyholder contact details; factual summary of your complaint; and letter of mandate if you are writing on behalf of the policyholder or beneficiary. Keep the details of your complaint as short and factual as possible. Provide us with copies of supporting documents referred to in the complaint, including correspondence with the insurer. Please write neatly. Type if possible. Black ink should be used for faxed correspondence. A complaint can be submitted in the language of your choice.   What happens next? You will receive a letter of acknowledgement advising you about the line of action the ombud intend to take. Should the complaint fall within the ambit of our rules, the ombud will write to the insurer concerned requesting an investigation of the matter. The insurer is requested to respond within six weeks. On receipt of a written response the complaint will either be decided and the complainant advised accordingly or further information or comment might be requested from either or both parties. Contact the Ombudsman for Long-term Insurance at:   Phone 0860662837     Fax (021) 674 0951     E-mail info@ombud.co.za     Website www.ombud.co.za     Postal address Private Bag X45   Claremont   7735     Physical address Third Floor,   Sunclare Building,   21 Dreyer Street,   Claremont,   Cape Town,   7735
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