The Importance of All Round Insurance

March 26 - Many South Africans believe that having life insurance is about the only type of personal cover they will need. However, what many seem to overlook is that a lot can happen within a lifetime as well, and if they are not properly covered, they will face major problems.

Take, as an example, earnings protection. While a life insurance policy will serve those left behind, it won't be paid out if an injury or illness makes a person incapacitated and unable to earn a living.

This is where income protection insurance steps in. This type of cover ensures that even when policyholders are unable to work, they will continue to benefit from an income. Insurance experts actually claim that in many cases, especially when policyholders have no dependents, income protection is actually more important than life insurance.

Good medical insurance is also an absolute must for South Africans. Statistics show that we are four times more likely to suffer from a critical illness before the age of 65 than they are of dying. But while there may be technology to solve these illnesses, costs may simply be beyond the reach of the Average Joe.

Medical insurance can cover advanced treatments, as well as full time care if and when they are needed. Critical illness cover could also provide policyholders with a sum of money to tide them over as they are recovering from their illness.

Having good insurance in life - and death - is absolutely imperative for South Africans and their families.

Checking out the different policies and options available and making an educated decision should be the first step in obtaining insurance.