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Can I afford life insurance?
The real question is, can you afford not to have life insurance?
If you were to die now, could your family continue to live in the family home, maintain their lifestyle and achieve their financial goals? Ultimately, not having life insurance could cost you and your family more than you think.
Fortunately, most people are surprised to learn that life insurance is actually cheaper than they think. Adequate cover can start from as little as the cost of a takeaway coffee each week.
And the benefits of life insurance far outweigh the cost, as you or your family can use the proceeds of an insurance payout to:
- Pay off the mortgage and other debts
- Meet ongoing household expenses
- Fund medical treatment or rehabilitation costs
- Pay for school and uni fees
- Pay for extra child care or home services
- Cover the cost of funeral expenses.
In the unfortunate event that a claim needs to be made on your policy, you’ll probably think taking out life insurance was the best financial decision you’ve ever made.
If cost is an issue for you, it’s good to know that heightened competition means there is now a range of cheap life insurance options, many of which you can apply for and purchase online.
The best place to start is with an online life insurance quote. This is usually a simple process that involves entering a few personal details, such as your age, gender, occupation and smoking status, and then submitting your request to the insurer.
With little fuss, you’ll soon find a level of low cost life insurance that will meet your needs and protect your family’s future.