28/01/2019
Fact # 23: Life Insurance may not make your rich, but it will surely prevent your family from becoming poor.
Life insurance lessens the financial burden your family will face if something happens to you. It is a Risk Management tool that insures that there will be money coming in, even if you are unable to work due to certain scenarios such as death, disablement, accidents, and critical illness.
In case of death or disablement, a lump sum amount promised will be given to your family to cover for costs of final expenses, outstanding debts and mortgages, planned educational expenses and lost income.
In case of critical illness, a lump sum amount will promised will be given to pay for treatments, surgeries, hospitalization, and others medical expenses covered. It also can be use as income replacement that your family needs to sustain their daily lives, even if you can't work.
With VUL (insurance coupled with investments), you can also withdraw for your children's education, or for your retirement. If you start your VUL early, you will get a lot more from you investments, because of compound interest and longer time horizon.
For inquiries, feel free to send a message, or set an appointment with us. We offer free financial planning sessions! 😊
