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People who don’t have a life insurance policy usually have several excuses for not taking out life cover. “I’m not dying anytime soon” or “why do I need cover for when I’m already deceased”. These are some of the excuses people conjure up when asked why they don’t have life cover.
None of us know the exact date of our departure, but we know it’s inevitable. Although we can’t help ourselves in that moment, we can help our families and loved ones by ensuring their financial wellbeing. Here are a few reasons why you need life cover, and why you need it as soon as possible.
Support your loved ones
Are you paying off your home loan or any other debts? Taking out a life insurance policy means your family will be covered for when you are no longer there. They will be supported by your life cover policy to ensure they aren’t affected by the loss of financial income. Life insurance lessens the financial burden that can be placed on families. Thus, life insurance is vital if you are the main or sole bread winner in the household.
Support for others
Apart from supporting your family members, taking out a life insurance policy ensures that other people who may rely on you are taken care of after a sudden death. Your business partner, ex-spouse or an employee will be supported during the loss of financial income.
You can save more by starting now
Taking out a life insurance policy becomes more expensive the older you get. Thus, it makes financial sense to take out life cover at a younger age, usually in your mid-to-late 20’s. You can also save money by remaining loyal to an insurance company as they will most likely offer loyalty benefits such as premium deductions or cash-back schemes.
If you are still unsure whether taking out life insurance is necessary or need more information on any life cover policy, simply contact iWYZE on 0860 93 94 93 and discuss your life insurance policy with a consultant.
Terms and conditions apply. Please note that the content displayed on this site is for information purposes only and does not replace our policies’ terms and conditions. The policy wording supersedes any marketing material. Any claim will be considered against the terms and conditions that apply at the time of claim and as set out in out customers’ policy documentation.