Life Insurance 101- Why is Life Insurance so important?
Life insurance is all about giving the people you care about most, financial security if you’re no longer alive to support them. With life insurance, when you die, (or become terminally ill), your nominated loved one(s) can receive a lump sum payment.
They can use this to continue living the life you want them to. (Mortgages can be paid out, children’s private education fees paid, people aren't forced to leave the home or area where they have been used to living and frail aged or special needs people in your life can be cared for etc.)
If you’re in business, it can mean that if you’re not there, your business debts are paid out and that the business doesn't have to be wound up or forced into a sale. It means that you (or your business partners) are not forced into business with the remaining family of business partners. The possibilities are as individual as your needs.