What Can I Expect From Life Insurance?

If you are like most people, making a living keeps you very busy. You also do not expect things to go wrong. Still, you have probably considered the possibility that something could happen that would stop you in your tracks – or worse. You may have wondered how the bills would get paid if you couldn’t work or how your loved ones would make it financially without you. When you have adequate life insurance, you can expect to face these possibilities with confidence.

Expect More

A common mistake is to think that life insurance only helps when you have passed on. But circumstances can arise that keep you out of work or are life-changing. Some life insurance products are designed to help while you are still living. These include:

o Income protection
o Trauma Cover
o Total & Permanent Disability Cover

Expect Cover for Your Income

For most people, getting from one paycheck to the next can be difficult. Ever wonder what would happen if you became ill for a few months? What if you broke a bone and had to be out of work for a long stretch? With Income protection cover, you would not need to worry. Income protection is a life insurance product that can:

o Provide you monthly payments for up to two years or longer
o pay up to 75% of your income while you recover
o Provide you a monthly payment based on how much you were making when you were injured or got sick
o Allow you to recover stress-free

Expect Cover When Serious Illness or Injury Occurs

Illness and injury can strike when you least expect. A cancer diagnosis could make it necessary to go through months of treatments, during which time you might not be able to work. Trauma Cover can protect you by providing a lump sum payment to help with medical expenses as well as living expenses. Trauma cover is available for every member of the household, too. The money can be used to help you:

o Pay for extra medical expenses
o stay out of work and care for a sick or injured child or spouse
o pay on the mortgage or any outstanding debt
o Hire household help
o Pay for travel expenses related to medical care

Expect Cover If You Become Disabled

Things can dramatically change in an instant when you find yourself seriously injured in a car accident. Other serious conditions could also result in permanent disablement. With Total and Permanent Disability Cover, you can receive a sizeable lump sum payment. This money can replace funds you would have brought in if you had been able to continue working. Total & Permanent Disability Cover would help you do things like:

o Pay off the mortgage – or a portion of it
o Pay for private nursing staff
o Pay ongoing bills
o Purchase specialised medical equipment
o Pay for modifications to your vehicle

When choosing TPD, it is best to opt for the largest payout possible. This is because you will likely become uninsurable after receiving the TPD payment.

Expect Cover That Will Be a Comfort

The thought of leaving your loved ones behind is unpleasant enough but it is an important consideration. What would happen to them financially if you were gone? Your parting gift could be a life insurance payment. With adequate life insurance cover, your beneficiary would stand a better chance of making it, whether yours is the primary or secondary household income. Some of the ways a life insurance payout might help your family include:

o Paying off car loans
o Paying school fees
o Paying for a memorial
o Investing for the children’s future
o Paying off a mortgage

Expect to Rest Easier

When you know your loved ones will be protected no matter what happens, you can expect to rest easy. With sufficient life insurance cover, you and your loved ones could weather any storm. In most cases, premiums for the cover you need can be very affordable. An insurance broker can best guide you through the process of choosing the cover that is right for you and your family.