Are you one of the 57% of New Zealanders who have life insurance? If so, you already understand the importance of having it. But there’s 43% who may think life insurance is important, just not for them. Or that only old people or those with kids need it. But in reality, a life insurance policy is for everyone, including you!

Do I Need Life Insurance?

Now if I had a dollar for every time I was asked this … I guess the question you need to ask yourself if, can I afford not to have it? While you are considering that, here are some examples of the types of people who would benefit from having a policy in place.

• Breadwinners
  If you die, the insurance policy will give your dependants, or whoever is stipulated in your will, a lump sum.
• Business Owners
  Is your business debt free? Will it remain running when you are no longer here to own it?
• Single with No Children
  It’s true that you don’t have any dependants to worry about, but who is going to clean up any financial mess if you die? It also ensures you are ready if and when you find a partner and have kids.
• Single Parent
  Who is going to support your kids financially if you die? Life cover will help provide them with a secure future financially.
• Parents of A Special Needs Child
  Stop worrying! Life insurance can make sure that your child’s needs will be met for the entirety of their lifespan.
• Someone Who Has Debt
  No, you won’t have to pay the rest of your debt when you die, but someone will. Are you prepared to let others pay for you or lenders dispose of your assets on your behalf to meet these debts?
• Someone Who Wants to Provide an Inheritance
  Not everyone has accumulated a lot of money when they die. A life insurance policy will pay out a lump sum to your beneficiaries upon your death.

Not everyone lives to the ripe old age of 100. Illness, accidents, disease and just bad luck mean many of us will die before we can retire. Having a comprehensive life insurance policy in place gives you the peace of mind that your loved ones will be looked after when you die. Take a read of our article Getting Life Insurance: When and Why Should You Get It for more details.
For a chat about the type of life cover and amount which suits you best, give us a call on 021 0226 9127 or send us a message today! We’ll help you take care of those important to you.