Life Insurance: Looking After Your Family

insurance policy

Every parent knows so well the fear and hopes that they carry for their children every day. Will my children survive in this troubled world? Will they do more than just survive and go on to achieve great things for themselves and their families – a degree, a successful and fulfilling career and a beautiful home? Every parent also knows that a good education is critical to surviving and flourishing in this world. A good education is about giving your children a head-start in a fiercely competitive world, about placing them just a few steps further up the ladder. It is about giving them the best start possible. What parents often do not know is how expensive school fees will be paid in the event of one or both of their deaths. Life insurance and disability insurance go a long way towards answering this question.

What exactly is life insurance? In a nutshell life insurance means that a tax free sum of money is paid out to nominated beneficiaries of the insurance policy in the event of the death of the insured person. The beneficiaries are free to use this money as they see fit. It can be used to cover living expenses, school fees, debt or even any outstanding medical bills incurred by the Deceased. Any funeral expenses are covered by a funeral benefit: a sum of money paid to the surviving family to cover the unexpected costs of a funeral. This benefit pays out just 48 hours after the claim has been submitted!

Further peace of mind can be found in the disability and dread disease cover that can be taken out in addition to your life insurance policy. Disability insurance will pay out if you are medically unfit to work while dread disease cover pays out in case of serious illness or organ failure.

So much of what happens to us every day is beyond our control. We can not live in fear but we can be prepared and protect ourselves from the unknown. With life insurance and disability and dread disease cover your hopes for your family will stay alive, no matter what happens.

The process for getting a life insurance quote is pretty straightforward and most insurance companies also offer life insurance as one of the products they offer. You may need to go for a medical exam, depending on your profile, and this may include blood tests. There are many life insurance companies available to choose from – make sure you do some research and ask your friends or family what companies they recommend.

Source by Anthony Lopes