subject: Life Cover Insurance part of Sound Financial Planning [print this page] Life Cover Insurance part of Sound Financial Planning
Life cover insurance, critical illness insurance, disability insurance, unemployment insurance, funeral insurance There are different types of cover to help provide for your family in the event of your death, or suffering from a debilitating illness for a protracted period of time, or following an accident that leaves you unable to hold down a job all provide financial support by way of lump sum payments in times of specific needs. In fact these days it's possible to incorporate many types of insurance within a single, multi-faceted policy that is structured according to your individual requirements.
Many would concur that life cover insurance should be central to your insurance portfolio first make provision for the inevitable, then safeguard against the unlikely but possible, and thereafter think about the finer details, the what ifs. Death is a natural part of life that you need to plan for, making sure that your dependants will be okay financially should you no longer be around as their bread-winner when they need you most. Becoming disabled or critically ill can be even more devastating to your family as the effect of possibly losing your job and your income is compounded by the costs of hospitalisation, medication, doctors and nurses for who knows how long. And then there are the "little things" associated with one's passing that can so easily be overlooked such as the money required for paying the undertakers and whatever other posthumous expenses can't wait for a typical life policy pay-out before they must be settled, money that those who survive you might be hard-pressed to procure in a hurry.
Spending some time exploring the life cover insurance market online is one of the best ways to get quick answers to some of your most pressing questions on the topic part and parcel of sound financial planning, you might say.
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