LIFE INSURANCE INFORMATION

Please see information on Life Insurance below.

        

LIFE INSURANCE

What is Life Insurance?

Life Insurance is essentially a lump sum that is paid out in the event of your death. Most people take out life insurance to provide some financial security for their families and loved ones when they die. It can be used to pay for their living costs, funeral expenses, paying off debts and protecting your assets.

Why should I get Life insurance?

Talking about death is a difficult subject but if you have anyone who is financially dependent on you then you really should consider taking out a life insurance policy. They could struggle to cope if you are no longer around to provide financial stability. With life insurance you will know that your family and loved ones are taken care of when you die. If you die, the emotional stress will obviously be difficult for those left behind, but at least you can be sure that they are financially secure.

How do I choose the right Cover?

The best level of cover will suit your personal needs and will depend on a variety of factors. You should consider how much you can afford and also how many financial obligations you have such as credit cards, debts and other loans.

The right policy can depend on the amount of money you want to be paid out and the number of dependents. The best policy will ensure that your family and anyone else financially dependent on you will not have to worry about bills, your debts or the threat of losing property and other valuable assets.

Many life insurance companies offer different policies so make sure that you go over those offered in detail. Take your time and consider the different costs and risks involved. Use Which Way To Pay South Africa to compare and weigh up the best offers.

How much will it Cost?

The exact cost of an insurance policy will depend on the insurer you choose. In general the younger and healthier you are, the lower you premium is likely to be because you are less likely to make a claim. The shorter your life expectancy, for example if you are a smoker, the higher your premium is likely to be.

Generally speaking your age, health, lifestyle and whether you are married or have children are all aspects which can affect the cost of a premium.

        


Please note that Which Way To Pay South Africa www.whichwaytopay.co.za is not authorised to give personal financial advice under the South Africa financial regulations.

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