Life insurance
Life insurance is a type of insurance policy that provides financial protection to your designated beneficiaries in the event of your death.
Life insurance policies typically provide coverage for accidental death and illnesses. Some policies may also offer additional benefits, such as terminal illness coverage and accidental death and dismemberment coverage.
It is important to carefully consider your needs and budget when choosing a life insurance policy, as coverage and costs can vary depending on the type of policy, your age and health, and other factors. It is recommended that you speak with a financial adviser to help determine the right life insurance policy that suits your needs.
Why do I need Life Insurance?
Financial security for loved ones
Life insurance provides a financial safety net for your loved ones in the event of your death. The death benefit can be used to cover expenses such as funeral costs, outstanding debts and other financial obligations, as well as to provide financial support to your dependents.
Estate planning
Life insurance can be used as part of an estate plan to help ensure that your assets are distributed according to your wishes.
Business protection
Life insurance can be used to provide financial protection for a business in the event of the death of a key employee or owner.
Income replacement
Life insurance can help replace your income in the event of your death, providing financial support for your dependents.
Legacy building
Life insurance can also be used to build a legacy for your beneficiaries by providing a death benefit that can be used to support their future needs.
Important information and disclaimer
- Any advice on this publication is of a general nature only and has not been tailored to your specific circumstances. Before taking action on this information, please seek your personal advice. Past performance is not a reliable guide for future returns. The information on this page reflects our understanding of the existing legislation, standards, etc.
In some cases, the information has been provided to us by third parties. While the information is believed to be accurate and reliable, but this is not guaranteed in any way. - Neither AIFP nor its responsible persons or employees give any warranty of accuracy, nor accept any responsibility for errors or omissions in the information provided on this page.