Life insurance
Life insurance generally provides an agreed amount upon the insured person’s death or terminal illness. This can help provide financial independence for a family in case of the loss of a homemaker or breadwinner. In a business situation, it helps protect against the loss of a key employee or business partner. Life insurance can be used to help pay one-off and ongoing expenses such as:
- Mortgage
- Personal debts
- Funeral expenses
- Ongoing income
- Children’s education
- Major purchases
- Children’s medical expenses
