In essence, life insurance is a contract between the policy owner and the insurer, where the insurer agrees to pay a sum of money if the policy holder dies. In return, the insured person (policy holder) pays a set amount of money, known as a premium, at regular intervals.
Before purchasing a life insurance policy you should consider the following:
1) The beneficiary – this is the person who receives money from the life insurance policy. This could be someone like a spouse or a family member.
2) The type of life cover that will suit you financially – how much money you can afford to spend on your life insurance.
3) The level of life cover needed.
A wide variety of affordable life cover is available in South Africa. A life insurance policy could help avoid having your family and dependents suffer financially following your death. In addition many life insurance policies have funeral plans to help families with funeral costs and expenses when they need it most.
Death Cover
Everyone's financial goals differ but the fundamental basics for most people are the same: the desire to provide financial freedom and protection for family and dependents even after death. A cheap life assurance policy provides security for your family without breaking the bank. Ask yourself the following questions to determine whether you need death cover:
Do people depend on you for their well being like your children, parents, siblings?
Are you a single parent?
Will your children be able to get by financially without you?
Is your house paid off?
What will happen in the sad event of your passing away?
Find the best life assurance for you and your family now by filling in our life insurance form.visit http://www.cheaplifeinsurance.co.za/
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