Life insurance.
Hi There,
I have a serious matter to discuss with you - life insurance.
I wish you the best, but It's proven that "stuff happens". We never know when is our turn to part from this world, so it's good to be prepared, especially if we have children or loved ones financially dependent on us. We know that our kids won't starve if we leave this world sooner than expected, but it's a given that they will be treated a little better if there's a Bank account left behind with the proceeds from a life insurance policy, that can be used to help with their daily needs, or to assist them with a better education.
Some of us have life insurance coverage provided as a benefit from our workplace. Keep in mind that those are beyond your control (they were purchased by your Employer, and often are subject to final approval and if that's the case you may not even qualify for it). In addition, if you switch company, that doesn't go with you, and by then you could have a health situation that would prevent you from having insurance.
If you have a mortgage and obtained mortgage insurance with your Bank, that's to the benefit of the Bank. The insurer will only pay the Bank whatever's left owing on the mortgage when you die. Your beneficiaries do not get the balance. In addition, it's subject to final qualification and review after your death, so your beneficiary may not even get it. If that weren't enough, those mortgage insurances are only good for as long as you have the mortgage with that Bank. When renewal comes, you may not qualify because you're older or you may have a sickness and they decline you outright!
Get your own policy and stay in control.
This is serious stuff - Give it some thought.and call me for a quote, or shall you wish to discuss details.