Here are some of the reasons why people take out life insurance.
I want to protect my loved ones
Life insurance can provide your loved ones with the money they need to pay the mortgage, the school fees and other living expenses that you would normally provide for. Many policies provide an allowance for the recipient of an insurance payment to consult with a financial adviser about how to make the most of such a payment.
I have just had a child
The birth of a child is a time of great excitement. It’s also a time when many people start to better organise their finances. One part of that is making sure that your child will have access to all the opportunities that they deserve should the unthinkable happen, and you are no longer able to care for them.
I want to contribute
If you don’t have dependants or if they are already provided for, you may consider a life insurance policy as a way of making a charitable donation after you have passed away. We all have causes that are important to us, such as homelessness, animal welfare or your community church. Paying a monthly life insurance premium may be one way of leaving a lasting legacy.
