Life Insurance

life insurance

Life Insurance Cover

Why do people buy life insurance? It’s because they’ve come to accept the realities of their existence. While no-one enjoys dwelling on morbid topics, the truth is that there will come a point when we can no longer provide for our children and families. To ignore this fact is to potentially risk a difficult future for the people who depend on us. Life insurance cover provides comfort for both the main policy holder and their family.

Employment insurance and mortgage payment protection insurance offer much the same coverage as a life insurance plan. In the real world, accidents happen. People are made redundant through no particular fault of their own. Injuries and illness occur without reason. Unfortunately, these events can have a dramatic impact on how we provide for our families.

Coping with Accidents

People who are injured frequently have difficulty working either in the same capacity or with the same vigour as they did in their healthy state. They need time to recover from their injuries. Financial pressures can make this exceptionally difficult. People who feel that they can’t rest for fear of being unable to meet their financial obligations may never recover fully.

Accident, sickness and unemployment Insurance, also known as ASU, enables you to provide for your family should you experience a major accident or illness that interferes with your ability to earn a living. There’s nothing more restful than knowing that your major financial commitments are being met while you recuperate.

Handling Long-Term Commitments

Each plan is designed to address specific debts or obligations. In some cases, policy holders can specify that the benefits package handles certain financial obligations ahead of others. This enables pieces of property or long-term loans to remain current and free from default.

In the current job market, it can take several months to find a position that matches your previous salary. Depending on the amount of your savings and your ability to cut back during difficult times, your bank account can begin to sharply dwindle under tremendous financial pressure. Income protection insurance helps you protect yourself against sudden changes in your income and maintain a steady standard of living while you find other work.

Income protection insurance is about turning a potentially bumpy transition into a smooth one. Accepting reality doesn’t mean you have to give up on having a wonderful life. It simply means you need to prepare for it.