Do you need long-term insurance, that is to say a life insurance policy? It's a big question because the premiums for life insurance could easily cost you R500 a month or more, and you are probably in perfectly good health. But if you have dependents, especially young children or elderly parents, then you need life insurance.
If you were unable to earn your regular income either due to serious illness or you died unexpectedly who would look after your spouse, your children, your parents? How would they be able to pay for the funeral costs or other expenses assocaiated with your passing. Furthermore, what if you have a bond on your home, credit card debts, and owe money on your vehicles?
A life insurance policy in South Africa is a neccesity for all parents. But how much coverage do you need, and which policy should you choose? Direct insurance companies that previously only offered short-term insurance are expected to start offering long-term life insurance policies. When that happens you need to consider these companies, which will enable a cost-effective alternative for people looking for life coverage.
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