Your budget is stretched to the breaking point every month as you pay school fees, grocery bills, the bond on the family home and more. As you wrestle with a long list of figures every month, stop for a moment and think about how your spouse or partner would cope if you were unable to work due to illness or disability or even if you passed away.
As a parent and breadwinner, life insurance, dread disease cover and disability insurance are an essential part of your personal financial planning. The pay-outs from these policies will give your family the funds they need to cope without your salary or to deal with the high cost of illness and disability. Find out what you need to do to buy your family the financial protection they need!
Note: If your children are under the age of 18 you need to make sure that you have a will that nominates a legal guardian for your children and that you set up a trust to administer your life insurance pay-out. The good news is that this pay-out will be made available to your children immediately, supporting them while your estate is wrapped up.