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Life Insurance covers you and your loved ones

What does Life Insurance cover?

Life is precious. Life Insurance is designed to cover you and your loved ones in the unfortunate events of death, disablement or terminal illness. Life Insurance policies generally include basic funeral cover, with the option to increase your funeral benefit.

Do you need Life Insurance?

If you are single, having Life Insurance is not vitally important. Although, on the other hand, you don’t know how long you will be single. As we all know, it is much wiser to get Life Insurance at a young age, because you pay more if you only get a Life Insurance policy later in life.

Life Insurance policies will pay out in the event of your death and the funds will be used to settle any outstanding debts.

Questions you should ask before you buy a Life Insurance policy
  • Does the cover expire at a certain time?
  • How many beneficiaries can you add to your policy?
  • Does your Life Insurance policy cover accidental death immediately?
  • Do your premiums remain fixed for a period of time?
  • Will your Life cover decrease while your policy is active?
  • If you add disability cover and dread disease cover, will your Life cover be reduced if you claim?
  • If you are diagnosed with a terminal illness and a life expectancy of less than 12 months, will your Life Insurance be paid out while you are still alive?
  • If you get married or have a change of lifestyle, will you be able to increase your cover amount without further underwriting?
More interesting information:

How to save on Life Insurance