Life Insurance Online

Who should be covered with life insurance?

You're married

Most families depend on two incomes to make ends meet. If you died suddenly, could your family maintain their standard of living on your spouse's income alone? And what if both of you passed away? Could you be sure your childrens education would be taken care of? Would there be enough money to secure their financial future? The need is greater still if you are supporting parents or siblings - what would happen to them if you were no longer around? In these situations, Life Cover is vital.

You're a single parent

As a single parent you're a caregiver, breadwinner, cook, chauffeur, and so much more. Yet many single parents have no life insurance at all, and many with cover say they need more. With so much responsibility resting on your shoulders, you need to make doubly sure that you have enough Life Cover to safeguard your childrens financial future.

You're a stay-at-home parent

Just because you don't earn a salary does'nt mean you don't make a financial contribution to your family. Children, transport, cleaning, cooking and other household activities are all important tasks; the replacement value of which is often severely underestimated. Could your spouse afford to pay someone for these services? With Life Cover, your family can afford to make the choice that best preserves their quality of life.

Your children are self-supporting and your bond is paid off

As the years go by, you may feel your need for Life Cover has passed. But just because your children have left home and your home loan is paid off does not necessarily mean that your savings will take care of the unforeseen events that lie ahead. If you die today, your spouse will still be faced with daily living expenses.

What if your spouse outlives you by 10, 20 or even 30 years. Would your fainancial plan, without Life Cover, enable your spouse to maintain the lifestyle you worked so hard to achieve? Would you be able to help your children and grandchildren financially, if they needed it? And would you have anything to leave them after you have gone?

You're retired

Did you know that the size of your estate can result in your heirs being left with a large estate duty liability after your death? The proceeds of a life insurance contract are payable immediately, allowing heirs to take care of estate duty liabilities, funeral costs, and other debts without having to liquidate assets, often at a fraction of their true value.

You're a business owner

Besides taking care of your family, life insurance can also protect your business. What would happen to your business if you, one of your fellow owners or perhaps a key employee died tomorrow?

Life Cover can help in a number of ways. For instance, a life insurance contract can be structured in such a way to ensure that the remaining business owners have the funds to buy the company interest of a deceased owner at a predetermined price. This enables the owners to regain ownership of their business and the family receives the proceeds of the insurance contact. To protect a business in the event of the death of a key employee, Key Person Insurance, payable to the company provides the owners with the financial flexibility needed to either hire a replacement or replace the financial loss incurred by the business.

You're single

Many single people feel that they don't need life insurance because no one depends on them financially. But there are exceptions. For instance, some single people provide financail support for aging parents or siblings. Others may be carrying significant debt that they would not want to pass on to family members who survived them. If you are in one of these situations, you should definitely have Life Cover because you would not want your loved ones finanacially burdened in the event of your prematurte death.