You are young and single. Unattached is the word, I believe. With a degree under your belt you have a career that is going places and a slick new car that is going even further. You are in the market for your first property, an apartment or townhouse. They say it is wise to get into the property market as early as possible. One thing you are not in the market for is life insurance. Without a partner and no dependants, it does not need to form part of your financial planning yet. Or does it?
Consider, for a moment, your untimely death. Who is going to settle any debt that you might have? For example, the car that might not be worth as much as it was when you bought it, your credit card bills and clothing accounts? And who is going to cover your funeral expenses? The answer to all of these questions lies in a life insurance policy.
A life insurance policy from 1Lifedirect will pay out a lump sum in the event of your death to your nominated beneficiaries. These beneficiaries can use these funds to settle your debt, cover any unpaid medical expenses related to your death and even pay any legal costs incurred while settling your affairs.
Giving financial assistance to retired parents is also a reality for many of us. And if they do not need assistance now, what are the chances that they will need it one day in the future? Your life insurance payout could continue to provide the financial assistance you gave them – or the financial assistance you were planning on giving them in later years.
Your 1Lifedirect life insurance policy includes a R25 000 funeral benefit, paid from your sum assured. This benefit will be paid out 48 hours after a valid claim has been submitted to 1Lifedirect. It also includes a terminal illness benefit that will pay out your cover amount if you are ever diagnosed with a terminal illness and your life expectancy is less than 12 months.
Dread disease cover and disablement cover should also be on your priority list. Dread disease cover provides a payout if you are ever diagnosed with a serious illness while disablement cover gives protection if you are ever disabled and unable to work. As a 1Lifedirect policyholder you can have up to R4 million disablement cover and R2 million dread disease cover to your life insurance policy.
So, now you understand the need for life insurance, although you are single, footloose and fancy-free. Contact us for a life insurance quote today.