Life Insurance

Who will be affected if tomorrow you die? That is really what Life Insurance is all about. It covers your debts and taxes at death as well as what has been left behind for loved one’s that were financially dependant on you to be looked after.

Too often we think we are invincible and nothing will ever happen to us, but death can come at any point in our lives. The unfortunate fact remains that death is costly. It costs to be buried or cremated, it costs to have the memorial service and provide comfort food and fellowship, and then after that come all the other costs knocking at the door. The tax-man is there to collect (so pay your taxes and keep up to date), the debt collectors are there for their share, the executor is there to help but at a cost as well and all financial dependants need to have their share of the estate as well. Life Insurance has become the most commonly used vehicle to pay each due at a minimal monthly cost to the client.

For a monthly premium or annual if so chosen, the life insured has piece of mind that should he or she die unexpectedly, all the debts are settled in the least. Proper financial planning can allow the insured to know how much will be needed to cover their current financial contribution to the household and other financial dependants and put a number of years these costs need to be covered. This will allow the dependants to grieve with less stress and have a smoother transition in life without their provider.

No amount of money can replace a loved one, but making sure there is no financial burden after death can definitely help ensure that the memories and associations left behind are happy ones.

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