Raising a child alone is probably one of the toughest jobs in the world. You and only you carry the burden of providing for your children’s every need, from food to extra maths lessons. As the family’s sole provider you have to make sure that your kids will be taken care of, no matter what. Get peace of mind with life insurance and dread disease cover. This is how it works.
Life insurance provides the funds your children will need to survive without you and the salary you earn, paying for food, medical expenses, school fees and yes, extra maths lessons in the event of your death. Dread disease cover gives you financial relief in case of serious illnesses like cancer, protecting your family from the often-serious financial consequences of chronic illness.
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.