This is for protection in the event of a life changing occurrence like Death, retirement or disability.
Life insurance is protection against the loss of income, your beneficiaries receives the funds so they are protected from any financial impact. The goal of life insurance is to provide a measure of financial security for your family after you die. Life insurance can assist with;
- Regular living expenses
- Paying outstanding debts
- Funeral costs
The funds of your estate are tax free, it’s a once off payment guided by your will.