Your income may support a household covering mortgage, education costs, living expenses and many other expenses. You may play a vital role in raising your children and managing the family income. You may be a sole trader, partner or controlling shareholder in a business.
These people rely on you today. But have you considered what would happen if you were gone tomorrow?
Whilst many of us haven’t, or don’t want to consider this question, protecting those that depend on you today will ensure that they are secure tomorrow, providing peace of mind and financial security. With a term life assurance plan you can protect you and your loved ones from the uncertainties in life.
What is term life assurance?
Term Life is the least expensive, easiest kind of life insurance coverage that you can buy.
This kind of life insurance cover is temporary and for a fixed period of time. It provides affordable, guaranteed death benefit coverage for as long as you need it.
Because term life assurance is a pure death benefit, its primary use is to provide coverage of financial responsibilities for the insured or his beneficiaries. Such responsibilities may include, but are not limited to, consumer debt, dependent care, college education for dependents, funeral costs, and mortgages. Term assurance is often chosen in favor of other types of life insurance because it is usually much less expensive (depending on the length of the term).
Term assurance is relatively easy. You can buy term assurance that stops after 5, 10 or 20 years to suit your needs, or that can be continued beyond age 70 – depending on the specific policy you are purchasing.
Why should I buy term life assurance?
With term life assurance, you will ensure that your family needs are met at a small cost. Term life assurance may be the gift your loved ones will need in case of your unfortunate death.
A term life policy will also protect you by providing cash benefits to assist with costs incurred in case you are hospitalized following an accident, diagnosed with a critical illness such as cancer or are permanently disabled.
Where can I purchase a term life policy?
As our mission to enhance quality of life by delivering peace of mind, UAP Life offers the Hifadhi term assurance plan. The Hifadhi Plan ensures that the lifestyles of families are maintained or not affected by unfortunate events such as sicknesses, accident, or worse untimely death of a breadwinner.
As your personal situations change (i.e., marriage, birth of a child or job promotion), so will your life insurance needs. Care should be taken that the life cover(s) you choose to purchase are suitable for your long-term life insurance needs.
What are your comments on protecting your family through term life assurance?