Life Insurance

Life Insurance is a cover that is provided in the event of death, usually in the form of a lump sum and ensures your surviving loved ones are not left with financial burdens.

The amount of Life Insurance cover you should have will depend on your existing debts, such as a mortgage, and if you have any dependants. The premium cost of your Life Insurance will also be determined by how much you are willing to spend.

As you get older, the cost of Life Insurance increases. The more secure your financial position is, the less amount of insurance you will need. As you get older, you will be able to reduce your insurance coverage. This is why it is important to build a healthy relationship with your financial adviser.

For many Life Insurance policies, there are additional benefits that can be added. Some of these include: Terminal Illness cover, Total and Permanent Disablement Insurance (TPD), and Trauma Insurance.

Want to know about other types of insurance?

• Total and Permanent Disablement Insurance (TPD)

• Trauma Insurance

• Income Insurance