Family life cover is an insurance policy you can take out to help make sure your family receives financial support if you pass away. Your insurer will pay a lump sum to your family, which they can then use to clear a mortgage or a debt, or cover day-to-day expenses or specific obligations such as school fees.
Why do I need family life cover?
Life insurance ensures that you and your family are financially protected in the event of a death, disability, severe illness or loss of income. The life cover portion pays out a lump sum in the event of a death which can then be used by you or your loved ones to cover any financial obligations – from funeral costs to outstanding home loans – that may arise from your death.
In addition, severe illness, disability and income protection benefits can cover your financial needs in the form of either a lump sum payout or a regular income. You can also cover the education costs of your children should you die, become disabled or suffer from a severe illness. We’ve designed our products to provide relevant, comprehensive benefits that adapt to your changing needs. To find out more about our products, contact your financial adviser or get life insurance quote from us today.