Life insurance is essential if you have debts or dependants that you would like to take care of in your absence. It ensures that your loved ones can continue to live comfortably and fulfil their plans without financial stress.
Most life insurance policies also pay out upon diagnosis of a terminal illness and having less than 12 months to live. This can help clear debts and mortgages and provide an income fund for the surviving partner or help tick off that bucket list.
It’s important to get professional advice to determine the right level of coverage for your specific circumstances. A tailored policy ensures you have adequate protection without overpaying for unnecessary coverage.
