Protection for your family when you\u2019re no longer there.<\/p>\n
Life Insurance is designed to provide cash for your family after your death.\u00a0 This cash replaces your income and can help your family continue to maintain their lifestyle and meet their financial obligations \u2013 like daily expenses, bond and car repayments and the cost of education.<\/p>\n
It is always difficult for family to lose a loved one, but what makes it more difficult to deal with the loss is when these emotional struggles are compounded by financial difficulty.\u00a0 Life cover helps you to make sure that the people you care about are provided for financially, even when you\u2019re not there to care for them anymore.<\/p>\n
The need for life cover is greatest when you have people that are dependent on you and that might face financial difficulty if you\u2019re no longer there.\u00a0 So for instance, most families depend on two incomes, so life will be difficult for the family if the income is no longer there. Not only will this affect your family currently in terms of daily living expenses, but also in the future \u2013 would the surviving spouse be able to provide for the children\u2019s education?<\/p>\n
If you\u2019re a single parent, then the need is so much more, because your children and dependents only have you to provide for them.<\/p>\n
If you\u2019re a single person, you will need to assess your life \u2013 some single people are providing financial support to ageing parents or siblings.<\/p>\n
If you fit any one of these descriptions you should consider Life Cover to ensure that your loved ones are provided for and their futures are taken care of in the manner you may have intended.<\/p>\n
There are a number of options available under the Family Protection pillar:<\/p>\n