It is difficult to face the fact that we are all going to die one day. It is not something we like to think about, but we do need to plan for it. So many families are left with unmanageable debts because they can’t cover the income gap of the family member that moved on. They end up loosing their assets like their house and/or car, in most cases the family members left behind can’t send their children to school or university. This is what we have to look forward to without life cover…
Ask yourself the question right now, will the family you leave behind be able to support themselves, provide for themselves and carry on without you?
If your answer is no, then you should get yourself a life insurance cover.
What is life insurance?
Life insurance pretty much takes your place should you pass away, in a financial sense. Life cover replaces the income that you would of accumulated during your working life that ensures your family is financially secure.
Why do you need it?
Life insurance is to ensure your family has sufficient income in the years after your passing to still maintain the same lifestyle. It is there to ensure your left behind family does not lose things like your home or cars. It ensures your children continue to get a decent education all through school and/or university.
Securing Your Loved Ones:
It is of utmost importance to have a life policy in place if you have a family that you currently provide for. There are various kinds of policies from which to choose from. Each of them have different duration and potential benefits, so it is crucial to choose the right one to suit your lifestyle and preferences. Generally speaking there are two main types of life cover; term insurance and whole life assurance.
Term insurance is the most popular kind of cover. This cover pays out a lump sum or a monthly income if you die within a set period of time. If you don’t die, the policy simply lapses and you get nothing back.
Whole life assurance offers protection for your lifetime until your eventual death, wherever it occurs, and therefore premiums are much higher.
In case you were wondering, term insurance is so called because you are insuring against something that might happen; whole life assurance gets it’s name from the fact that you are assured a pay out at some point. You get different types of term insurance and whole life insurance depending what you are looking for.
Finding The Right Cover For Me:
If you are looking to take out a life cover, you should start with getting an estimated figure on how much life cover you will need to buy, you can use our free Life Insurance Calculator do just that. Likemoney.co.za allows you to find and compare different companies. All companies have been rated and reviewed by your friends and other users. This way you get unbiased, rated companies helping you find the best life policies.
For Your Peace Of Mine, Get A Life Insurance & Secure The Future Of Your Loved Ones. It’s worth it.Get A Life Insurance & Secure The Future Of Your Loved Ones. It’s worth it.
Please comment below if you have an questions, We will get back to you in no time.
