Life Insurance

Life Insurance is designed to provide cash for your family after your death. This cash replaces your income and can help your family to cover their daily living expenses, bond and car repayments and the cost of education.

Why do you need life insurance?
To decide whether or not you need life insurance, you need to think about the worst-case scenario: if you died tomorrow, would your loved ones cope financially?

Would they have the money to pay for your final expenses like funeral costs, medical bills, taxes, debts, lawyer’s fees, etc.?  Would they be able to meet ongoing living expenses like the rent or bond, food, clothing, transportation and healthcare costs?

And what about your long-term financial goals?  Without your contribution to the household income, would your surviving spouse be able to save enough money to put your children through university or retire comfortably?

Choosing the right cover
Deciding what kind and how much life insurance to buy takes some thought.  Here are some points to keep in mind:

  1. Look at your needs as a family and work out how much money you will need to protect yourselves in the future.
  2. Make sure you first insure the risk that would be most damaging to your finances, for example the death of the main breadwinner.
  3. Review your insurance needs at least once a year and more often if there is a change in the family, for example a marriage, birth, new home, more possessions, etc.
  4. Most importantly, make sure you choose an insurer you can trust!

It's always hard to lose someone you love – but you don’t have to suffer financially.  Life insurance helps make sure that the people you care about will be provided for, even when you're not there to care for them yourself.

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