Individual Life Insurance

Individual Life Insurance as a Cornerstone of Financial Planning

First things first; no one likes to think about passing away, but on the other hand, you have to be realistic enough to know it is an eventuality you cannot escape from. That said, you need to take a paradigm shift in the way you view Individual Life Insurance coverage.

Empowerment through Knowledge

One of the main problems that causes low uptake of life insurance is ignorance. However, you just need to look at your family right now and think the fate that would befall them, especially where you are the sole breadwinner.

By buying basic life insurance, you are protecting your family against financial loss caused by your death. You will still be catering for your dependants even after passing away, a firm commitment to the love you showed when alive.

Your Individual Life Insurance coverage will cater for expenses such as funeral logistics, estate taxes, future education needs, debts and mortgage and also replace your family’s source of income. With such coverage, you have peace of mind knowing that your family will not slump into destitution commonly seen on the streets today.

Making Insurance Coverage Choice

Your family needs determine the best type of coverage for you, and your insurance agent will guide you professionally in choosing your policy. You can opt for term life insurance where coverage is provided for a limited period, whole life coverage to guarantee coverage in the lifetime of your dependants or the flexible universal life coverage allowing you to make changes to the policy.

Whatever you do, make sure you have Individual Life Insurance coverage to cater for your loved ones when you are no longer there.