Momentum Active Dayz

[bleedToWin]

I have a broker that helps A LOT with the life insurance and health, especially where there is difficult claims or gap cover claims.  You simply cannot know about and keep up with all the products and add-ons and what you can claim against what and what not.   I will not do my life insurance and medical aid without a broker.

 

And yes, that is where big points are as well!

 

 

A broker client relationship Is often quite personal. Sharing info you wouldn't ordinarily. So it's quite important you get along or like the person you're dealing with.

 

As an independent myself, I would always favour going independent purely for the higher potential of an unbiased viewpoint, but being tied to a single company or being independent doesn't in itself mean the broker is good or bad. Some VERY good brokers are tied agents. Some tied agents are atrocious. Same for independent.

.

But yes. I'd always say you need to get a broker. Even if you DIY there are things you may not have considered that are pertinent to you and as such you're not actually covered for something where you need to be, or you have too much.

Yeah, it's the right way to go about this, which is why Momentum 'forces' us to do it I guess... Time to make grown up decisions

 

I assume Life Insurance will have a similar brokerage to medical aid? Anything else regarding fees that I need to look out for, red flags wise? I'm expecting a flat fee every year for the yearly review and simple brokerage on anything that we use to advisor to set up. Is this how it's done?

 

[Captain Fastbastard Mayhem]

Yeah, it's the right way to go about this, which is why Momentum 'forces' us to do it I guess... Time to make grown up decisions

 

I assume Life Insurance will have a similar brokerage to medical aid? Anything else regarding fees that I need to look out for, red flags wise? I'm expecting a flat fee every year for the yearly review and simple brokerage on anything that we use to advisor to set up. Is this how it's done?

 

No. Life commission is a % of premiums each year, regulated by ASISA. And we aren't allowed to charge over and above what the regulated commission would be. So no consultation fee unless we don't charge commission at all.

 

Because of this, there's sometimes a very large incentive for a broker to replace an existing policy with one from another company, as he will only receive commission on the premium increases every year.

 

But still. Get a broker. If he or she insists on a replacement, start asking questions.

 

In this way it's often safer to go for a tied agent as they cannot replace internally and get up front commission

[Captain Fastbastard Mayhem]

There ARE exceptions to this. Particularly with millennials who, like you, just want guidance. Then we can charge a consultation fee, but don't be surprised if it runs to R 2,000 per hour. We are professionals, after all, and it's bloody expensive to get here. And there can often be upwards of 5-10 hours work in a review, depending on the client.

 

And not a lot of people can shell out 20k cash...

 

In this case, we'd assess as per normal but effectively provide the initial admin and policy setup, but not much else except st each review. And you'd be charged for EVERY interaction.

 

If you want them to monitor an investment, that would be an additional fee every month. Same with med aid interactions / interventions. Hourly rate, which can quickly add up.

 

So you can see how it's actually not in your best interests to go down that route

Edited April 7, 2017 by Myles Mayhew

[Jackes]

Yeah, it's the right way to go about this, which is why Momentum 'forces' us to do it I guess... Time to make grown up decisions

 

I assume Life Insurance will have a similar brokerage to medical aid? Anything else regarding fees that I need to look out for, red flags wise? I'm expecting a flat fee every year for the yearly review and simple brokerage on anything that we use to advisor to set up. Is this how it's done?

 

 

I have a R35 per month broker fee and that's it, no yearly review costs.   He gets his commission from momentum (out of your premiums obviously).

 

I had momentum life insurance before I had momentum health or multiply.   You get 60% discount on your life insurance if you are on private club.

[Long Wheel Base]

She has a Garmin Forerunner 35. Should maybe install a phone app to track steps and see if they are vastly different.

Pretty sure the forerunner will be accurate. I was thinking maybe she used a phone app and no one has their phone on them ALL the time. Good idea to have a secondary device to see the difference between the two, Even if just for a short period.

[Long Wheel Base]

I received a sms from momentum saying that my fitness test has expired. My healthy heart score expires on 2018-02-17. I sent them a message via the website as well as asking my broker and they all said Yes I need to do another as its only valid for 6 months. BUT on the website they state the following:

A Multiply fitness assessment is an alternative to Active Dayz for members who live an active lifestyle but are unable to track it. So let a registered biokineticist tell you how fit you are or how far you need to go at a Multiply fitness assessment.

So, I track my active dayz via my vivo fit/strava and get my 16 days per month no problem. Do I still need to do a fitness assessment to continue receiving maximum benefit on my private club status? I already have 1448 points for the year and haven't done any of the online questionnaires or been to a dentist etc so I don't need extra points to keep private club.

[Pooyan]

I received a sms from momentum saying that my fitness test has expired. My healthy heart score expires on 2018-02-17. I sent them a message via the website as well as asking my broker and they all said Yes I need to do another as its only valid for 6 months. BUT on the website they state the following:

A Multiply fitness assessment is an alternative to Active Dayz for members who live an active lifestyle but are unable to track it. So let a registered biokineticist tell you how fit you are or how far you need to go at a Multiply fitness assessment.

So, I track my active dayz via my vivo fit/strava and get my 16 days per month no problem. Do I still need to do a fitness assessment to continue receiving maximum benefit on my private club status? I already have 1448 points for the year and haven't done any of the online questionnaires or been to a dentist etc so I don't need extra points to keep private club.

 

In your scenario above you don’t have to go for a fitness assessment since you maintain the 16 active days needed.

 

Advantages of fitness assessment:

Client don’t have to log active day’s (if your received the desired fitness result)

Client can reach the 180 fitness points easier/quicker especially clients that join Multiply later in the year.

Myriad (life cover etc...) discount is instant. (Best of fitness assessment or active dayz-)

 

Also remember:

If you are a Myriad client, then your Multiply/Myriad discount might reduce for the term July 2017 tot Dec 2017 if your average active days for your best 5 months between Jan 2017 and Jun 2017 are less than 16 days per month.

[Long Wheel Base]

In your scenario above you don’t have to go for a fitness assessment since you maintain the 16 active days needed.

 

Advantages of fitness assessment:

Client don’t have to log active day’s (if your received the desired fitness result)

Client can reach the 180 fitness points easier/quicker especially clients that join Multiply later in the year.

Myriad (life cover etc...) discount is instant. (Best of fitness assessment or active dayz-)

 

Also remember:

If you are a Myriad client, then your Multiply/Myriad discount might reduce for the term July 2017 tot Dec 2017 if your average active days for your best 5 months between Jan 2017 and Jun 2017 are less than 16 days per month.

Cool Thanks.

I am a myriad client as well(all eggs are in the same basket here; long term, short term, life, heatlh-hell I don't think there is a product of theirs I don't have.....)

I have 135 active days for the year but my average is probably around 20 days per month so I should be good. Healthy heart score is green as well.

[Pooyan]

Cool Thanks.

I am a myriad client as well(all eggs are in the same basket here; long term, short term, life, heatlh-hell I don't think there is a product of theirs I don't have.....)

I have 135 active days for the year but my average is probably around 20 days per month so I should be good. Healthy heart score is green as well.

 

Then you are 100% sorted and no need for a fitness assessment. Well done on your number of active dayz!

[Escapee..]

New to Momentum and I am 135 points away from Gold.

 

Gen please help a brother out!

[Pooyan]

New to Momentum and I am 135 points away from Gold.

 

Gen please help a brother out!

 

PM your email address, and I’ll send you a brochure about Multiply points and how you can earn Multiply points.

[Gen]

New to Momentum and I am 135 points away from Gold.

 

Gen please help a brother out!

He he... all your online questionnaires done, has your broker done his bit...the annual review etc.?

 

Don't forget about your safety score validation..lots of easy points there.

 

Pls remember if you see you haven't averaged the 16 active days p/m for period Jan - now..to go do a fitness assessment ASAP. .

 

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Edited June 20, 2017 by Gen

[Long Wheel Base]

New to Momentum and I am 135 points away from Gold.

 

Gen please help a brother out!

Like Gen said you can get a lot from the online stuff. If you have short term insurance with them and take a photo of dogs/ outside lights/ burglar bars and upload you get points. Some of the online questionnaires take a few min but its points for nothing.

[Long Wheel Base]

Then you are 100% sorted and no need for a fitness assessment. Well done on your number of active dayz!

Cool. Yeah for me 10000 steps/ 300 calories is nothing. My strava is synced and I commute most days so by the time I get to work at about 06h00 I already have an active day, Can literally go back to sleep and I'm sorted. If I don't cycle to work I am on my feet all day so the steps accumulate quickly on the vivofit. Weekends are so busy I usually average 14k/15k steps no problem(Moving the lawn is almost 3k). So its not like I am going out of my way to get the steps.

[Pooyan]

Cool. Yeah for me 10000 steps/ 300 calories is nothing. My strava is synced and I commute most days so by the time I get to work at about 06h00 I already have an active day, Can literally go back to sleep and I'm sorted. If I don't cycle to work I am on my feet all day so the steps accumulate quickly on the vivofit. Weekends are so busy I usually average 14k/15k steps no problem(Moving the lawn is almost 3k). So its not like I am going out of my way to get the steps.

 

It’s great when the active dayz “system” work so well! My friend is a farmer, and he got 30 active dayz last month while just living his normal life. (No exercise) 

[Gen]

It’s great when the active dayz “system” work so well! My friend is a farmer, and he got 30 active dayz last month while just living his normal life. (No exercise)

Yip. . Farmers and nurses seem to be the ones who get the steps in before lunch time .

 

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