South Africans need to save more

Research shows that South Africa’s savings rate stands at a mere 0.5. This is concerning, as it indicates a significant savings challenge among many South Africans, and in the event of an emergency, this implies that people have to rely on credit or family and friends to cover for their emergencies. Reuben Oosthuysen, Customer Engagement Manager at Hollard Life Solutions, tell OFM’s Robyn Schutte. how insurance can safeguard consumers in the event of an emergency.