Financial education should begin at home

WORDS ON WEALTH

MARTIN HESSE | martin.hesse@inl.co.za

A WEBINAR by the Financial Sector Conduct Authority (FSCA) this week revealed a staggering, but not altogether surprising, statistic: divisional executive of regulatory policy Caroline da Silva said a survey the FSCA had commissioned indicated – and the figures were still to be finalised – that more than one in four South Africans (26%) with credit life cover did not know they had this cover. About five million people who were sold a credit life policy when they