We all know someone who has either passed away suddenly or from a serious illness.
Life insurance protects your loved ones by providing either a lump sum or monthly income to ensure they can meet financial commitments such as repaying debt, funeral and estate costs, loss of income, or children’s childcare or education costs in the event of your passing. It is vital to ensure your loved ones don’t have the financial stress of worrying about how they will meet these expenses once you are gone.
benefits of life insurance:
- Funeral grant benefit – which is paid out immediately* on notification of a life assured passing away.
- Special event increase - which means if you were to get married, have a baby or takeout a mortgage you can increase your cover without medical underwriting.
- Terminal Illness – the ability to have your life cover paid out in the event you are diagnosed with a terminal illness and going to pass away within 12months