Life Insurance – Your Legacy?
Posted on May 30 2024 by

Creating an inheritance for you might be as simple as leaving money or assets behind to help your adult children or grand-children out so they have a brighter future or, you might want to enhance the value of your estate and give more of an inheritance. Must you settle for giving what you have saved to date?

There are many different ways to leave your own legacy. Everyone has a unique family and financial situation. Your legacy gift of any size can be designed to match your personal circumstances. Life insurance is an advantageous and inexpensive way to create a legacy.

Most people think of Life insurance only as the means to pay out a mortgage however, by increasing your level of cover, you can also ensure your family are cared for by providing additional funds for their personal wishes or to ensure financial freedom.

There are three main questions you should ask yourself when determining how much life insurance you need:

  1. How much money will my family or other dependents need if I died tomorrow?
  2. How much money do I want them to have?
  3. How much can I afford?

Your Insurance Adviser can assist in ensuring your needs are met and save you time by finding the most suitable company to place your insurance with.

Your Life insurance, and possible payouts, should be mentioned in your will to ensure the proceeds go exactly where you want them to.

Update your will, update your insurance Update your insurance, update your will

Amanda Van Den Broek,
Financial Adviser