LIFE INSURANCE

With life insurance, whilst it may be your life that is being insured, it's the welfare of your family that is being addressed.

Life insurance results in a lump sum payment upon the death of the person insured. It's important to have some kind of cover so that the benefits are received by your remaining family. If a family were to lose the major income earner, it's critical that the remaining family members are able to financially survive without having to sell assets, turn to others or rely on welfare.

From just a couple of coffees a week you could save your family in the event of a disaster...

The concept of life insurance is relatively straight-forward. Under a life insurance policy, the insurance company pays the insured amount on the death of the person whose life is insured. The benefit can be paid to a nominated beneficiary or to the estate of the deceased. Most modern day life insurance policies will pay the insured benefit early if a terminal illness is diagnosed and the insured person has less than 12 months to live.