Standard Bank Life Insurance
Standard Bank offers life cover of up to R10 mil to secure finances for your loved ones in the event that you pass away. No medical examination is required!
Other than life insurance, Standard Bank offers salary protection, accidental death/disability cover and dread disease protection. If you are interested in getting a policy from Standard Bank, visit their website directly.
Why do you need life insurance?
Choosing to buy life insurance can be a complicated procedure not just in any particular nation, but in the majority of countries in general. Amongst the many kinds readily available in the market, you have to make an informed and smart contrast in between the similarity medical insurance and life insurance-these two being the most popular among the public. Additionally, it gets even more intricate if you are aiming to purchase this market at a young age.
I understand what you’ll say. As a single, self-supporting and free-spirited 25-year old like myself, exactly what are the chances of dying from a debilitating disease or getting hit by a bus in a two-way street? Chances are, getting my life guaranteed at this ripe point in my life is as bleak as Donald Trump’s possibilities at winning the 2016 United States Presidential elections! However, let me ask you this. If you do not have a spouse, a boy or a daughter to tension on, I am certain you have loved ones in your extended family. An aging mother maybe? A father? A sister or a brother?– whose future you want to secure in the event of your unexpected demise or physical incapability on account of a nasty mishap.
Thinking of your loved ones’ future when you have gone to the Great Divide is possibly the most touching and generous thing you can do for them-financially providing for your dependents if you pass away. On a side note, in the case of a health problem or hospitalization, you can get health coverage from your insurance supplier without stressing your moms and dads or household of the monetary costs of hospitalization.
This is the principal and most obvious reason that you must get a life insurance as early as now. As counter-intuitive as might sound, your young age and optimum state of health now are the very aspects that move an economical insurance premium on your part. Because of your young age, the threats of dying from a disease is still small. Hence, you can get exceptional insurance protection for a low-cost or low cost while at the same time making sure the future of your beneficiaries. Your aging parents who are accustomed to a particular way of life or your sibling who has not finished university or is still in school will not have to issue themselves of their finances after you pass away. Put simply; your premature death will not paralyze their financial security since you have made sure that they still take pleasure in the best of life even after you are gone.
If you are the breadwinner of your family, fear not. Buying life insurance is the first step to ensuring adequate protection for their costs by including riders to your original policy, depending obviously on your household’s needs.
What options are there for me?
Entire life insurance policies are usually more costly and in every sense of the word, long-term investments when compared with buying a term life insurance. Whole life policies offer security in your estate taxes in case you fall delinquent in payments while term life insurance does not. Nevertheless, the latter will relatively conserve you more cash. Term policies can be an excellent alternative for those wishing to be covered for only a minimal amount of time.
Keep in mind, the quantity of the premiums you pay will greatly depend on the type of policy you purchase from the insurer. If you are planning to conserve while providing defense for your health and family’s future, variable life insurance might be the ideal option for you as it permits you to buy stocks, bonds, and mutual funds.
In sum, purchasing life insurance needs an extensive research study and understanding beforehand. Having a handful of mouths to feed in your household might be a signal fire for you to acquire one now as having financial dependents is the nucleus of this market. Since you want security not only for yourself but since there are individuals you hold close to your heart, you get an insurance policy and pay premiums.