Life insurance operates roughly in the same manner that your car insurance or home insurance would. When you take out a life insurance policy, you’ll pay a monthly premium to your insurer and if something goes wrong, your life insurance provider will help you cover the financial side. Life insurance can also ensure that you have enough money to maintain your lifestyle in-case of an illness, injury, or accidental disability.
According to statistics over 30% of South Africans don’t have a life insurance policy. If the worst were to happen how would your loved ones who depend on you and your income pay for their education or day-to-day living expenses?
To find out if you need life insurance, try thinking about the things you’re currently paying for and the people you have to support. In the event of your death life insurance can settle the outstanding debt that you may have left behind; it can also cover unforeseen legal, medical and funeral costs if your family doesn’t have enough savings to cover them.
There are a number of life insurance policies available. Biggy.co.za will help you search compare various life insurance packages and supply you with quote within seconds to help you find the right life cover.