Cover for you, cover for your partner
Another common mistake people make in considering life insurance is that it only applies to the family’s main income earner. The home maker is also a significant contributor – without them the income earner may need to stop work to take care of the kids. And face a loss of income on top of the tragic loss of a partner. Your partner, employed or not, contributes enormously to the lifestyle your family enjoys. That’s why they need life insurance too.
How can life insurance help you protect your family’s future?
Life insurance pays you or your dependants a lump sum if the person insures dies or is diagnosed with a terminal illness and has less than 12 months to live. At the time of devastating personal loss; the financial burden that follows could be overwhelming. Life insurance can ease that burden.
Life insurance offers you and your dependants some highly valuable features:
- Though the life premium generally isn’t tax deductable, the lump sum payment is generally tax free.
- There is a range of other benefits, including the ability, upon certain events, to increase your cover without providing additional medical information.