What makes a life insurance policy so essential?

If you have a family that relies on your income to meet all their financial needs, then a life insurance policy becomes a vital investment for their well being in the event of your death.

Should you die, the payout can be used to cover large payments such as a mortgage bill, education debts, and credit card payments.

The Benefits of having a life insurance policy:

  1. A cemented peace of mind and a robust financial blanket for your family’s financial needs after your death
  2. Life insurance pays out a lump sum, but the policyholder can choose monthly payments making life insurance policies highly flexible.
  3. The amount becomes tax-free if you were to put the payout from the life insurance policy into a trust.
  4. The customer has the option of buying a joint life insurance policy, which saves a lot on the costs.
  5. A life insurance policy is customizable, meaning it can be set to have a level of cover that increases or decreases over time.
  6. You can make functional additions to your life insurance policy, such as critical illness covers and income protection that will cover in case of an accident or illness during your lifetime.
  7. An insurance policy that has investment schemes on your premiums can have a higher payout if the investment goes well.
  8. Individual life insurance policies such as the over 50s life insurance policy can cover for basic funeral and other associated costs.
  9. Taking out a life insurance policy at a young age means that the premiums are a lot lower.

Is a life insurance policy for me?

Life insurance policies are designed to cover anyone and everyone.

It could provide much-needed coverage in cases that fall under the following categories:

  1. You have kids
  2. You are the sole or the primary breadwinner in the family.
  3. You have large debts such as a mortgage or educational payments.
  4. High funeral costs.


We would recommend you to talk to one of our advisers for life insurance quotes.
Any quote that your adviser provides you with will take into account your circumstances, your medical history, as well as your budget!
Call 011-3733-4610 – Monday to Thursday from 11.00 to 19.00 and on Friday between 11.00 and 16.00
Call Now Button