Why you need life insurance

Life insurance is often underrated: a tool that can help keep your family secure and meet their critical needs when you’re not around, it can be the greatest legacy you leave behind. The insurer will pay the beneficiary a previously decided-upon amount upon your death, providing financial aid perhaps when required most. It is essential, therefore, that you have at least one or more insurance policies.


Insurance aids in your family’s financial requirements, and this is crucial if you are the only earning member of the household. If this is the case, the family will cease to have an income upon your demise, leading to a consequent decline in the standard of living, owing to the lack of a steady income, making it challenging to perhaps even meet basic needs. Insurance money can come to aid in such situations.

On that note, insurance is also a good protection tool against the financial burden you will have to bear in case of illnesses or accidents.


Insurance policies also make for good investment options. The different kinds of policies can be used for different purposes. These include retirement plans, child insurance plans, and so on.

Additionally, insurance policies also lead to tax deductions on payments.

Therefore, considering, and consequently deciding upon buying an insurance policy will only benefit you in the long run, ensuring that you, as well as your family, remain secure even in the face of loss.

This website is written as a general guide and is not personalised advice. It is not intended as personal financial advice,nor is it specific advice to your situation. The author has written this in good faith and disclaims any liability from any action or inaction from how you may use this website or the results it may or may not achieve. Government, bank, company, insurer and lending policies, as well as other policies, procedures, and information in this website are likely to also change from time to time, and rules and decisions and policies may be applied differently and/or on a case-by-case basis. These rules may also change from the approximate time this was written. You are encouraged to recheck if these matters are accurate and up to date. By reading and using this website, you agree to hold the author, associated entities and/or associates, harmless.