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Provide For Your Family In Life And In Death With Life Cover

This September, Americans observed Life Insurance Awareness Month. According to LIMRA, the Life Insurance and Market Research Association, Life Insurance Awareness Month is 'an effort to raise awareness among consumers and producers about the need for life insurance.' From the United States to France and South Africa, every breadwinner needs the protection of life cover. Find out why.

According to the FinScope South Africa 2010 survey, the main single source of money for South Africans is as follows:

- Formal employment: 31%

- Money from others (family, friends, spousal maintenance): 34%

- Government grants: 20%

- Informal work: 12%

- Pension: 2%

- Other: 1%

These statistics paint a frightening picture, not only of our high unemployment rate but also of the number of South Africans who depend on 'money from others' for their livelihood. Are you one of the thousands of South Africans on whom others rely for money? Do you and your partner carry the burden of being the sole breadwinners for your family, extended family and even friends? Or perhaps you are single and it is you and you alone that looks after your family? It goes without saying that if you answered yes to any of these questions, you and your dependants need the protection of life cover.

Being a breadwinner and a parent carries many responsibilities. You have a family to care for and a job to do. You work hard at both, doing your best to perform well at work and at the same time provide for your family and ensure that they are happy, healthy and disciplined. But your responsibilities do not end there. As a breadwinner, one of your primary responsibilities to your family is ensuring that they are financially provided for in the event of your death with life cover.

This is how it works. In the event of your death your life insurance company will pay the beneficiaries of your policy a lump sum. This lump sum will replace your salary and can be used to cover daily living expenses, from transport costs and food, to school fees and medical bills. It can also be used to pay off any unpaid debt you might have.

Funeral insurance is another type of insurance you should consider. As you well know, funerals can be cripplingly expensive. A funeral insurance policy will cover the funeral expenses of every family member on the policy, allowing you to bury your loved ones with dignity.

You work hard to provide for your family. With a life insurance policy you know that they will always be looked after, even in the event of your death.

By: Life Insurance For You