A life insurance policy is there to make sure that a family has financial protection when the breadwinner passes away. When you take out a life cover policy, you pay a premium every month and, in the event of your death, 1Life Insurance pays your beneficiaries, for example your family or other dependants, a lump sum.
Your family can use your life insurance pay-out to survive the loss of your income and provide them with the financial protection they need to live the life you’ve always planned for them. A lump sum pay-out can be used to cover daily living expenses, medical bills and school fees, or to pay off debts, like your house or cars. Your family can also use your pay-out to start building generational wealth by saving and investing for their future and their children’s future.