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Picture book teaches kids about investing

Foord Asset Management has published the first in a planned series of picture books to teach children aged four to seven the basic concepts of investing. The series, authored by Foord’s communications manager Christina Castle will explore concepts such as time, saving, income generation, compounding, diversification, risk, patience and investing for the long term. 

“These are the basic investment principles that we drive at Foord,” says Castle. “Understanding and embracing these principles from an early age will set you on the path to successful investing.” The first book in the series, More Than Enough, illustrated by Carla Kreuseris, contains no references to money. It is about a young squirrel who sets out with her mother one autumn morning to collect acorns. “(The book) is the perfect platform for parents and teachers to start the conversation about investing and, more importantly, to keep having that conversation,” Castle says. Foord will distribute the book to libraries and schools throughout the country. For more information, or to request a free copy, email [email protected]

Discovery life pays back R5bn to policyholders

DISCOVERY Life reports it has paid R5 billion in PayBacks to policyholders linked to its wellness programme Vitality. This is on top of the R26.5bn it has paid out in claims since it launched in 2000. “Discovery Life uses dynamic underwriting and wellness measures to determine client risk and premiums. 

Whereas life assurers traditionally apply underwriting on static information such as age, gender and smoking status, Discovery Life can measure, track and encourage healthy behaviours over the long term through the Vitality wellness programme,” says Andrew McCurrie, Discovery Life’s head of technical marketing. 

“The more clients engage with Vitality to improve their health, the less they claim. This is evidenced in Discovery’s Diamond Vitality status policyholders, who have a 75% lower mortality risk compared to the industry average. We share this saving with our clients by paying up to 50% of their premiums back to them through PayBacks.”

Uber enters realm of financial services 

TAXI disrupter Uber announced this week it will enter the financial services space with Uber Money, which will offer a digital wallet and debit and credit cards. CNBC reports the emphasis, at first, will be on efforts to give Uber’s more than 4  million drivers and couriers around the world access to a mobile bank account for payments, according to Peter Hazlehurst, who will head the new division. “Under pressure to turn a profit amid competition from new ride-sharing entrants around the world, Uber is betting that by building out its financial ecosystem, it can keep drivers and riders loyal to its platform,” CNBC says.

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