Some things you didn’t know Life Insurance could do!

Over and above just giving you and your family peace of mind that they will be looked after in the event of your death, Life Insurance for your life can do a lot of other things too:

1. Donate to charity

If your family is fortunate enough to be quite well off, even in the event of your passing, you could always leave one last gift to charity before you move on.

2. Cover university fees

Your child can take out loans on your life insurance policy to help pay for school fees (often these loans are cheaper than those of student loans).

You could nominate your child as a beneficiary and they could use this funds to pay for university.

3. Income if you find yourself disabled

Some insurers will let you take out your death benefit even if you’re not dying – like if you’re disabled for instance, and this can act as a salary to help you get by. If your insurance policy covers you for temporary or permanent disability, this can act as an income to help you get by.

4. Benefits if you become terminally ill

Depending on your policy, your life insurance can also help you out in the event of you becoming terminally ill and unable to work – often covering your costly medical expenses.

5. Protect yourself against a stock market crash

Now you may not know this one, but permanent life insurance can actually safeguard you against sagging stock prices – instead of selling stock at a loss, just take some money out of your life insurance.

Now even though some people may choose to use their policies in different ways, it’s wise to rather use life insurance for what it is meant for – protecting you and your family. So give your insurer a call and get an obligation-free quote today