Although not everyone is required to have a insurance, everyone is still encouraged to invest in it. People get a life cover because of one main reason, to be secured in the future. But the reasons of getting one do not end here. In fact, there are a lot of reasons why a person should invest in life insurance.
Protection for Mortgage
Whether you are alone or not, you need to have a life insurance in order not to lose your house if something bad happens to you.
Take for example; you have small children to take care and something unfortunate happen to you. The role of life insurance is to secure that your children will still have a home to live in.
Becomes an Income Replacement
Life insurance policies sometime serve as a source of income. If a tragedy would strike to a bread-winner, It will provide the financial needs of the ones who are left behind.
Covers Final Expenses
Medical expenses, burial and funeral expenses - these are covered by the life cover if you choose a life policy that offer these services. At least you won't bother your loved ones if an illness strikes you or death would come your way.
Pays Debts
Believe it or not, life cover pays your remaining debts. Of course, everyone would want to retire peacefully without drowning your loved ones with debts. It can also cover federal and state estate taxes so that your assets won't be lost in case you're gone.
College Tuition Funding
This only applies for those who have kids that are going to college. School tuitions are increasing so if you die, your children would be supported until they finish schooling. You will feel better when you know that your children's future is secured.
As an Inheritance or Donation
If you wish to support a charitable institution by allotting half of your inheritance for donation, you can do so. Life Insurance allows you to donate and to provide inheritance to your children and to others.
Protects your Family When you're working in a High-Risk Area
If you are a military, an army or you work in war zones, you can put your family in safety by providing them life insurance. There are available life insurance policies that cover the whole family in dangerous areas.
These are just few examples why life insurance is very helpful. If you wish to fully understand more about it, do not hesitate to consult an insurance expert or visit Pillar.co.za [http://www.pillar.co.za/life-cover/].
Protection for Mortgage
Whether you are alone or not, you need to have a life insurance in order not to lose your house if something bad happens to you.
Take for example; you have small children to take care and something unfortunate happen to you. The role of life insurance is to secure that your children will still have a home to live in.
Becomes an Income Replacement
Life insurance policies sometime serve as a source of income. If a tragedy would strike to a bread-winner, It will provide the financial needs of the ones who are left behind.
Covers Final Expenses
Medical expenses, burial and funeral expenses - these are covered by the life cover if you choose a life policy that offer these services. At least you won't bother your loved ones if an illness strikes you or death would come your way.
Pays Debts
Believe it or not, life cover pays your remaining debts. Of course, everyone would want to retire peacefully without drowning your loved ones with debts. It can also cover federal and state estate taxes so that your assets won't be lost in case you're gone.
College Tuition Funding
This only applies for those who have kids that are going to college. School tuitions are increasing so if you die, your children would be supported until they finish schooling. You will feel better when you know that your children's future is secured.
As an Inheritance or Donation
If you wish to support a charitable institution by allotting half of your inheritance for donation, you can do so. Life Insurance allows you to donate and to provide inheritance to your children and to others.
Protects your Family When you're working in a High-Risk Area
If you are a military, an army or you work in war zones, you can put your family in safety by providing them life insurance. There are available life insurance policies that cover the whole family in dangerous areas.
These are just few examples why life insurance is very helpful. If you wish to fully understand more about it, do not hesitate to consult an insurance expert or visit Pillar.co.za [http://www.pillar.co.za/life-cover/].