Why do I need life insurance?
You may not want to think about what would happen if you were to die tomorrow but if someone relies on you financially, you probably need life insurance. The reason is simple – life insurance can help ease the financial burden caused by a critical illness or death in the family.
What is life insurance?
Life insurance is a contract involving three parties – an insured person, a life insurance provider and a beneficiary. Depending on the product, it is designed to pay a benefit to the beneficiary or beneficiaries when the insured person dies or becomes critically ill.
But the impact of life insurance is far-reaching. It can make all the difference to your loved ones by enabling them to enjoy the lifestyle you planned for them, even when you’re no longer here.
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