What is life insurance cover?
Life insurance cover is an insurance policy that pays either a lump sum of money or regular monthly payments upon the death of the policy holder.
Why should I get life insurance cover?
Taking out life cover provides the peace of mind that your loved ones will be able to cope financially if you die. If you have a family, having a valid life insurance policy is very important. Having a family means you have a financial obligation to put a roof over their heads, food on the table and provide clothes and warmth.
In the event of your death, life insurance pay-outs can assist with all of these things. The bottom line is this: If you have people who are financially dependent on you, then you probably need life insurance cover.
How much life insurance do I need?
The amount of life cover needed can vary greatly from person to person. Write down how much money you earn and then take into consideration everything your pay covers and how your family would get by without that money. You also need to think about other things you would like your life insurance to cover if you were to die prematurely, for example, you might like to cover your children's education.
Which type of life insurance is right for me?
There are different types of life insurance cover available depending on your financial obligations and what you would like your policy to do for you. One of the most popular and most simple life policy options is term insurance, which provides you with cover for a set period of time.
Whole of life insurance is another popular option which covers you for life and pays out a lump sum of money when you die. Investment based policies are also available, though they come with a much higher level of risk.
How do I get a quote for life cover?
Trust Financial Solutions is dedicated to helping our customers get peace of mind by ensuring they find the right life insurance cover for their needs and financial obligations. We offer a confidential one-on-one service and can take the hassle out of purchasing life insurance and other financial products.