Financially, what would happen in the event of your death? Is there debt or family that are dependent on you?
Life insurance will provide a pre-decided lump sum payment to be used either by your family or to cover your debt if you pass away or become terminally ill. Additional to general cover, common built-in benefits with many policies include:
- Bereavement Support – provides an early payment to assist with funeral costs
- Financial & Legal Advice – provides some reimbursement for costs of professional advice regarding the use of the life cover
- Repatriation Benefit – if you pass away whilst overseas, this can reimburse costs incurred to transfer the life insured back to NZ
- Childrens Funeral Benefit – Can assist with some funeral costs of a natural or legally adopted child