The first thing you need to know about life insurance is that the younger and healthier you are, the less expensive it is. If you do not have life insurance, here are the six reasons you probably need it:
- Having a baby. If you are planning to have a baby or you are pregnant and you are the breadwinner of the family, getting life insurance is always a good idea. However, if you already have a child then the need for life insurance is urgent.
- Getting married? If you are getting married soon and you are depending on your income to live the lifestyle you share with your partner, you must have life insurance. So that in the event of accidental or premature death, you can still maintain a similar standard of living.
- Supporting your ageing parents financially? The general rule is that if someone else relies on your income to live, then you probably need life insurance.
- You have debt. When deciding on a coverage amount for a life insurance policy, financial experts recommend including your total debt amounts to ensure whoever receives the money in the event of your death will have enough to pay off your outstanding balances in full.
- You have a high-risk job. If you work in a dangerous or high-risk environment such as mining, then life insurance is a must-have to secure your family and assets, should something unforeseen happen to you.
Iemas Insurance Broker (FSP 47563) a wholly-owned subsidiary of Iemas Financial Services offers comprehensive life and disability cover of up to R1 million with no medical examination required and a maximum cover of up to R5 million. Speak to a consultant today on 0860 102 383 or use our life insurance calculator to calculate the legacy you will leave for your loved ones in the event of death.