Important Points to Consider When Purchasing Life Cover and Associated Benefits

Updated: Jun 26, 2020

In a competitive market where insurers constantly try to enhance benefits to give them the edge over the others there are important facts that never change.

The amount needed.

Regardless of the product, you decide on based on added benefits, etc. The amount needed to cover outstanding debt, executor’s fees, taxes, capital requirements and more remains the same and needs a proper financial needs analysis to determine an accurate amount.

Funeral Cover.

There are immediate costs that will have to be dealt with like the funeral and income for dependents left behind while the estate is dissolved.

Disability Cover.

Not typically what you think about when you hear the word “Life Cover” but just as important.

Can be divided into two categories;

  1. Lump-sum.

Pays out an amount based on the severity of the event or the full insured amount. I highly recommend that you always take the most comprehensive benefit making sure that there are more claim possibilities. Most comprehensive benefits cover you for your nom