Guiding consumers since 2009

New web safety tool assesses risk profiles

By Staff Writer
Momentum Short-term Insurance, together with the Multiply Momentum rewards programme, has launched a new online tool which allows people (whether or not they are a Momentum customer) to assess their risk profile.
 
The Safety Score is a free online tool that assesses the personal, home and environmental, and vehicle risk profile of South Africans. TIt measures aspects of a person’s safety and ranks them according to a grading scale. The score that is attained then offers recommendations on ways to safeguard themselves and loved ones against potential risks and threats.”
 
The Safety Score tool
 
Etienne du Toit, business development actuary at Momentum Short-term Insurance, noted: “It’s an unfortunate reality that South Africa has one of the highest road accident and crime rates in the world. This new tool was developed to help people take simple steps to become more aware of everyday risks and dangers. It also recommends preventative measures to avoid risky situations and advice on how to stay safe.”
 
The Safety Score allows you to fill in information pertaining to home and vehicle, and assesses how effectively these are protected. It then provides suggestions on possible interventions that could increase the safety of these items.
 
Momentum pointed out that these suggestions include installing burglar bars and connecting your home (or vehicle) to an armed response service, as well as recommending that you join your local community policing forum.
 
Added benefits for policyholders
 
Momentum Short-term Insurance policyholders will have the added benefit of earning a cash-back bonus every year, even if they claim, simply by completing the Safety Score questionnaire. Policyholders can receive up to 20% of their premiums per year as a cashback Safety Bonus.
 
“Members of Multiply can double their cash-back bonus, earn rewards points for completing the Safety Score, and can qualify for discounts with Multiply’s selected group of safety partners,” revealed Momentum.
 
If you validate your answers, in other words, if you implement the recommendations made by Safety Score and provide proof you will earn additional Multiply bonus points.
 
Momentum pointed out that you can validate the implementation of the suggestions through:
·         A photo of the burglar bars on your windows at home,
·         A certificate of a vehicle tracking system installation, or
·         Proof of payment for security measures purchased.
 
The Momentum website explained: “If you have validated at least 50% of your score, your Safety Bonus will be activated. If you can't validate at least 50% of your score, you will not earn a bonus.
 
“You will need to complete the Safety Score on an annual basis to qualify for the bonus, since there will be an expiry date on the questionnaire, but we will let you know when your questionnaire is up for renewal.”
 
However, the company highlighted that while Momentum customers will receive added benefits, the Safety Score tool is available for use by all South Africans, “as Momentum is committed to contributing to a safer society and in this way enhance their financial wellness.”
 
Justmoney’s editor, Angelique Ruzicka, tried out the tool. For her review, click here.

Recent Articles

Featured Financial conflict can lead to divorce – here’s how to prevent it

Talking about money is an intimate matter, and it may be uncomfortable for couples who’ve managed to avoid this discussion. However, it will become necessary at some point or other. Do you think you’re ready to talk to your partner about money?

This is how much you should spend on accommodation

As your salary changes over time, your expenses will change too. But what if you’re spending an exceedingly large percentage of your income on accommodation? Is it feasible or even recommended in our current stressful financial climate?

How to be “future greedy” with passive income

Setting up numerous streams of income is a safe way to protect yourself from the loss of your main stream of income. Better yet, setting up passive streams of income will ensure you always have money coming in, without costing you additional working hours. So, what is “passive income”, and how can you earn this?

Can your debt be cancelled?

It sometimes happens that you struggle so much to pay your debt that you think of asking your creditor to write it off. But debt doesn’t just get written off. There are conditions that must be met and procedures that must be followed before the creditor cancels your debt.

 

Deals

FNB senior customers can earn up to 30% back in eBucks at Clicks

Price: Available on request
When: From 5 August 2020
Where: Nationwide

Bakwena Spa Women’s Day Special

Price: R549 per person
When: Until 31 August 2020
Where: Centurion, Hartbeespoort, Kuils River

Dis-Chem Pap Test Special

Price: R180
When: From 3 August to 11 September 2020
Where: Nationwide


Latest Guide

Guide to debt rehabilitation solutions