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Life cover: are your loved ones protected?

If the Covid-19 pandemic has highlighted one thing above all else, it is the importance of our families and loves ones, so now is an ideal time to shine a spotlight on your strategies for taking care of them in the event something should happen to you.

Of course, no one likes to think about the worst but the reality is, illness and accidents can strike at any time, without warning. If you don’t have life protection in place, how would your family and loved ones cope in the months and years ahead?

Bills add up quickly, from covering the mortgage or monthly rent payment to buying groceries, paying for the gas and electricity and even covering items such as a new soccer jersey, hurl or hockey kit for the kids. And that’s not including any allowance for special treats on birthdays, covering Santa’s haul at Christmas or planning any time to get away for a break.

Loss is enough of a hardship for any family to manage without having to struggle financially.

That’s where life cover comes in; a life insurance policy pays out an agreed level of cover payable as a tax-free lump sum in the event you die.

It covers you for an agreed term, or up until you turn a specific age, at which point the cover ceases.

A lump sum life insurance pay out can be used for a variety of purposes from mortgage, term or car loan repayments, day to day expenses and even for the costs of a college education for your children.

Life cover gives you peace-of-mind that whatever the future holds, you have protected the best interests of your family.

Extend your life cover for added protection

If you want to continue your life insurance beyond the original term, you can select a Conversion Option without any need for further medical questions or examinations.

You can also help combat inflation and protect the value of your life cover by opting to increase your life cover each year, where your premium also increases at an agreed rate.

Additional living benefits for hospital and accident cover

Additional protection benefits known as Living Benefits are available as an add-on to your life insurance policy and provide cover in the event of an accident or hospital stay.

Not only does this cover help you manage the financial costs of an accident, injury or illness but can give you the time, space and confidence to concentrate on getting better.

Living Benefits include hospital payment, broken bones cover / sports injury cover, accident payment and surgery payment (applies if you have serious illness cover).

To learn more about life cover and how it can help protect you and your family, get in touch with a friendly advisor from our team on 091 586 500 for the ultimate peace-of-mind.