Top 10 reasons to have life insurance

YOU NEED LIFE INSURANCE? Apply for life insurance today. Top 10 Reasons to have Life Insurance Cover

  1. Accidental Death- In the event of an accidental death, it is important to have adequate financial provision to cover all associated costs.
  2. Funeral Cover- Life insurance will pay out a lump sum in the event of death, which can be used to cover all associated costs, such as a funeral or burial ceremony.
  3. Financial Support for surviving family and dependents- It is important that adequate provision is made for surviving family members and dependents, to provide for future living costs.
  4. Avoid any unnecessary debt to be paid by dependents/family members- In the event of death, your financial responsibilities are transferred to your dependents, so it is necessary to provide them with the means to cover costs, and not to burden them with additional debt.
  5. Mental or Physical Disability- In the event of an accident or unforeseen disability, life insurance can provide you with the means to adequately equip your home to cater for a disability, for example, wheelchair access. Life insurance can also provide you with financial provision to cover medical costs.
  6. Terminal Illness- Life insurance can provide you with financial support in the event that you are suffering from a terminal or “dread disease”.
  7. Security- Life insurance gives you peace of mind and security, in that it can provide you with varying options as to guarantee that your family will be provided for in the event of your death.
  8. Long term benefits for family members- Life insurance allows you to provide for future milestones/ events in the future, by designating a specific lump sum to be paid out at a later date, for example, university/school fees.
  9. Convenience- A life insurance policy allows you to provide for your family or dependents in a personalized way that takes all your specific needs into account. Different life insurance policies provide you with the convenience of pre-planned policies that can be paid out immediately or at designated times.
  10.  Bond Protection- Life insurance can also allocate provision to cover any additional costs you may have to settle in the event of your death, which includes bond repayments and other property related costs.