Why do I need a Life Insurance?

This article was posted on 03 June 2016

Posted in Life Insurance


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The older we get, the more we realize that it is important to protect our family, and to build a viable financial plan.

A life insurance can be a good savings plan. It is also good to know that your loved ones are protected in the event of your death.

Now let’s go through all the reasons that should make you taking out and subscribing to a life insurance.

 

  • It will protect your family


Especially if you are the sole bread winner and brings the financial resources to your family, then having a life insurance is a high necessity to protect your family.
In the case of your death, you would not like to leave your partner or your children without a source of income.
Having a life insurance coverage can bring you the peace of mind in being sure that in case of a tragic event, your family will still be able to earn an income without you.

 

  • It will bring you financial security


You certainly do not like the idea of dying, and besides, leaving your loved ones in need. Having a life insurance enables you to make sure that even if you pass away, your children will still be able to afford to further their studies and live without being in dire straits.

 

  •  It can cover your debts


A Life insurance covers the living expenses of your family in case you pass away. On top of that, in that tragic case, you also want to make sure that your family doesn’t bear your debts, such as your loans, your car financing, your mortgage or your credit cards.

 

  • Additional covering


There are additional covers that can help your family to remove the burden of paying for the consequences of your death.
In case of your death, your family will not have to pay for the expenses related to your death. There are covers such as funeral cover that can avoid the costs of your death, costs that we tend to underestimate (up to a few thousands of Rands).

 

To conclude, it is certainly not pleasant to think about one’s death. However, especially in case you have a family, making sure that your loved ones will not carry the financial burden resulting from your death (no more income, debts paying off, expenses related to your death, etc.), subscribing to a life insurance will bring you the peace of mind of leaving your family without a financial burden.

On Mister Compare, we compare all the available offers in terms of Life Insurance, to make sure that you find the best offers, save money and protect your family in the best way possible. 


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