08/03/2023
*The effect of life insurance on your life*
Have you ever thought about it?
A life insurance cover affects your life positively in the following ways:
1. Financial protection for your beneficiaries - the main benefit is in the unfortunate event of your demise, your beneficiaries (could either be your family, spouse or children) receive a payout called a death benefit that replaces any income you provided while you were alive. Because life insurance is a tax-free lump sum of cash, your beneficiaries can use the money as they like, such as;
> Housing costs - mortgage or rent
> Clearing debts - students loan
> Existing future education costs for your children
> Everyday costs - food, healthcare, transportation, etc.
2. What about when you die? A life insurance covers your last expenses/funeral expenses to enable you to have a befitting send off.
3. Life insurance is cheap enough to fit most budgets - depending on how much coverage you need, you can save as little as $20 a month or save a higher amount that you wish. What happens when you've been saving a favorable amount and you end up losing your source of income? Not to worry. You can reduce your premium for a period of time in order to keep your policy active, and then later revise them upwards when your circumstances improve.
4. What happens in the unfortunate event that you suffer a critical illness or total/permanent disability? - life insurance offers the solution to protect you in the unfortunate event of suffering a critical illness or suffering a total or permanent disability. This way, you do not have to worry about 'what-could-have-been or should-have-been's' when you encounter such unfavorable situations.
5. Peace of mind - what happens when you survive your policy term? This is where the juice is! If you don't die during your insurance cover period, your insurer reimburses your full maturity benefit immediately, which includes all the accrued bonuses for trusting them to be your best financial planner.
6. It's so easy to apply for insurance! - need to compare insurance prices online? You can get free quotes online, or I can guide you how to do it for free! In less than 10 minutes, you could change your life completely.
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