What You need to know about

Life Insurance?

What is life insurance? It is a policy that you agree upon with your insurance provider, regarding a certain amount of money that will be paid to your beneficiary the day you die, at a monthly fee. You can look at it as a death protection plan for your family. The cover amount is a calculation of all your debt plus extra so your family can get back on their feet without your income. It is necessary to have some protection in place for your loved ones, seeing that you do not know what the future may hold for you or any of them.

Benefit 1

You will be able to settle all the bills, and you will leave him or her without the worry of how the debt will get paid or what he or she are going to do to survive financially.

Benefit 2

If you have children, you will save them from financial hardship and give them the chance for higher education. It is our priority as parents to give our children the best.

Benefit 3

It will give you peace knowing that you did your part to take care of your loved ones on a financial basis. You will have the rest in your heart knowing they will make it. You did your part as a husband or father.

There are two types of life insurance

Whole and Term Life Cover

Whole life insurance says it all; it is a policy that will cover you and your family your entire life. You can reach the age of a hundred, and you will still be covered. You only have to update your beneficiaries in case they are not alive anymore.

Term life insurance, on the other hand, provide you with cover for certain periods. Usually, it is termed between five and thirty years. You choose the term that you want protection for you and your family.

Whole life is more expensive than term life for the reason it will cover you and your loved ones entire life. It is also more costly because you can choose a cover amount that is much higher than what term life can offer you.

Where Can You get quotes for whole and term

Life Cover?

You do not have to look any further, you can find whole and term life quotes on Advance4Life page now. You can just follow the previous link and you will be redirected to a website with valuable information and a place to request quotes without paying anything. Read more on life insurance companies in South Africa here.

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