If you are looking for answers to your questions on whether you need a life cover, when is a good time to take it or how much it would cost you, then look no further. We have put together a list of questions (and answers!) that most people ask themselves before applying for a life cover.
Who needs a life cover?
Generally, anyone who has children or other dependents, like parents, siblings or a stay-at-home partner who would not be able to provide for your family in the event of your death. If you're paying off a mortgage on a house or apartment, a bank might also require that you take a life cover.
Do I need a life cover when I'm young and healthy?
If you have any dependents, or if you are planning to have them, then the answer is yes. Even if you are currently young, single and in good health it might be worthwhile looking at getting life cover. Life circumstances change, and there are certain benefits to applying for it early, like easier approval process and lower premiums.
Does it have to be expensive?
The amount that you are going to pay depends on your individual circumstances, for instance how much debt you have, how many dependents rely on your income and how much money they will need to support them after your death. We are here to help you shop around for the best insurance policy on the market, tailored to your needs.
There are so many insurance providers on the market, which one of them offers the most affordable Life Insurance policy?
Don't hesitate to get in touch with us through our quick and simple contact form, and we will call you back with the best Life Insurance deals.
Do I need to commit to a whole-life insurance policy?
No, there are fixed term life covers available on the market. Get in touch with us today through a contact form, and one of our advisors will assist you with finding the most affordable fixed term life insurance.
If you have a family, planning to have one, a partner that you’re supporting or any other dependents, a bond or loans to pay off, you should definitely consider taking a life cover. There are many benefits to your family and dependents in the event of your sudden death, and for you it will give the peace of mind that cannot be underestimated.
The main purpose of getting a life cover is to ensure that your family would not find themselves in dire financial situation in the event of your death. The funds could be used to pay off your home loan, put your kids through college education, pay any other outstanding debts, or simply manage the costs associated with the funeral of the breadwinner. It is very important to nominate a beneficiary of your life cover.
For business owners, having a life cover could mean saving their business from going into liquidation after their death. It can ensure its continuity until alternative arrangements like a takeover or sale of the company are made.
There are cases where taking a life insurance is a formal requirement, for instance by lenders before approving a home loan. So, if you’re planning to buy your own place, it might be a good idea to get a life cover in advance. Life cover products have evolved and developed over the years, and many insurers now offer different types of plans, like whole life or fixed term cover, or universal cover which includes an investment option. If you are considering getting a life cover, but are lost among all the options and different providers, don’t hesitate to fill out your details on our site and one of our qualified agents will call you back to assist with getting the most for your money.
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