What is Life Insurance

September 6, 2017 Uncategorized No Comments

Although many people are aware that various types of life insurance policies can be purchased these days, not all of them actually know what they are and how they work. Life insurance products or policies help provide the financial resources to preserve your way of living for you and/or your family in the event of a serious illness, accident or even death occurring.

While it may be unpleasant to think about scenarios such as those mentioned above, it is essential that you take the time to consider the potential risks. Having a financial backup plan in place may not be able to bring a loved one back, but it will certainly help ensure that remaining family members and dependents are cared for in the event that you are no longer able to do so for any reason.

In the event that you are involved in a serious accident or are diagnosed with a life-threatening condition that result in death or permanent disability, the following forms of insurance can provide a much-needed financial lifeline:

  • Total and Permanent Disability Insurance
  • Term Life Insurance
  • Income Protection Insurance
  • Key Person Insurance
  • Business Expense Insurance

If you experience long-term illness or are temporarily disabled as a result of an accident or health condition, you may be able to benefit from these insurance options:

  • Trauma Insurance
  • Income Protection Insurance
  • Private Health Insurance (although this is not a life insurance product, it could help cover a lot of unforeseen medical bills)

While there may be policies and products available to cover you in the event that you lose your job, these usually only provide short-term cover or benefits. They also come with numerous terms, conditions and restrictions, which could affect your ability to claim from them under certain circumstances.

If you would like to ensure that your family will not suffer financial hardship in the event of you experiencing a fatal accident or long-term illness that impacts your ability to earn an income, contact our professional team here at Find Life Insurance today. We are more than willing to discuss the various policies and options with you that are available.