What is Life Cover?

What is Life Cover/Insurance?

Life insurance or life cover pays out a tax-free lump sum if you die during the term of the policy. It’s possible to have single life cover, where only one person is insured, or joint life cover or dual life cover, where two people are insured under the one policy.

Do I need Life Cover?

Like most insurances the answer to that question depends very much on your personal circumstances. For example, if you have no dependents or anyone who relies on your income, then you more than likely do not require life cover. Some people may have cover through work or a pension plan, so they usually do not require additional cover.

If you have dependents or someone who relies on your income such as a spouse, then you more than likely need life cover.

It is always recommended to talk to a financial advisor before purchasing cover so that they can perform a full financial review to ensure you are making the best choice for you.

How much Life Cover do I need?

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