The reasons for taking out life insurance

The reasons for taking out life insurance

Do I need life insurance? This is a question we sometimes ask ourselves when thinking about our family’s future. But whether or not you need life insurance depends on your personal and financial situation.

Do you have small children? Do you supply most of your household’s income? Do you have a mortgage or loans with more than 6 digits?

If you answer yes to those questions, then life insurance might help ensure your peace of mind and that of your loved ones.

In fact, life insurance is a way of protecting your family in the event of your death or if you suffer a serious illness or an accident that prevents you from maintaining your current level of income.

Life insurance means you won’t have to worry about whether or not your family will be able to pay for funeral or hospitalization expenses, your loans or mortgages, or simply support your family or pay for your children’s current or future studies.

You have probably already asked yourself the following question: how much does life insurance cost?

But maybe the question should be: how much will it cost me tomorrow if I don’t take out life insurance today?

You can choose to save a lump sum to meet unforeseen costs by making regular payments into savings accounts or fixed-term deposits.

Another way to protect yourself is to purchase a life insurance policy for an insured lump sum in return for the payment of an annual premium. In this way, you won’t need to set aside a sum of money to protect your relatives should you die, as this sum will be covered by the benefit paid out by the insurance in the event of a claim.

You can secure adequate levels of cover for your needs at relatively affordable prices. The cost of life insurance will vary depending on the lump sum you want to insure, your age and the level of complementary cover you want to add (illness, funeral expenses, permanent or temporary disability, accidents, etc.).

In addition, insurance companies usually offer flexible payment options, allowing you to pay the annual premium in monthly or quarterly instalments.

And remember, the most precious thing is our life and that of our loved ones. Life insurance gives you the assurance that your family will always be protected.

At MoraBanc we offer Life, a flexible life insurance policy that can be tailored to meet all your needs in terms of life, accident, serious illness or sick leave cover, so you can maintain the level of protection you want for you and your loved ones.

MoraBanc brings you tailored solutions. For more information contact your account manager and request a quote with no obligation.

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