Life Insurance is a fundamental financial tool that provides a lump sum payment to beneficiaries upon the policyholder’s death. It is an essential aspect of financial planning, offering peace of mind and security for those left behind. Ideal for individuals with financial dependents, life insurance ensures that loved ones are not burdened with financial hardships in the event of an unexpected passing. Whether for paying off debts, covering living expenses, or securing future educational costs, life insurance plays a pivotal role in safeguarding your family’s financial future.

 

Benefits:

 

• Financial security for dependents.

• Fixed terms and benefits from policy start.

• Essential for families and individuals with dependents.

 

FAQs:

 

What is Life Insurance?

 

Life Insurance is an insurance policy that provides a lump sum payment if one of the policyholders dies. It can be held by one person or two (typically a couple).

The life insurance benefit/amount and term of the policy will be decided upon and fixed at the beginning of the policy. If someone dies within the term of the policy, the benefit will pay out.

 

Who should have it?

 

If you have financial dependents, or anyone who will be negatively affected by your death, you need life insurance.

 

How much cover should I have?

 

It is completely dependent on your personal circumstances. We can help you work out the most appropriate life insurance benefit to protect the people you love the most.

For couples who are renting, we strongly recommend you have enough life insurance cover so that in the event of a death, the surviving person can buy a family home and own the roof over their head – with no liability to debt to a landlord or bank. For people with dependent children, we focus on what replacement income would be needed should an income stop.

Affordability will always be factored into any recommendation we provide. We are strong believers that some cover is better than none.