Also, your family might need extra money to make some changes after you die. For example, they may want to relocate, or your spouse may need to go back to school to be in a better position to help support the family. Of course, you should also plan for expenses that arise at death.
Most families have some sources of post-death income besides life insurance. It drops slightly when the survivors are a spouse and one child under 18, and stops completely when there are no children under Many also have life insurance through an employer plan, and some from another affiliation, such as through an association they belong to or a credit card.
If you have a vested pension benefit, it might have a death component. It will also cover the costs of transporting you and, if medically necessary, a family member, organ donor, nurse or doctor to the medical facility. We've partnered with an extensive network of leading hospitals and centres of excellence in the USA to ensure that the full procedure, including surgical and medical treatments and organ transplants, will be covered.
Discovery's Supplementary Gap Cover provides lump-sum payouts and a premium protection to ensure that you and your family have sufficient protection for defined conditions associated with high-cost breakthrough medical treatments. Supplementary Gap Cover offers a range of unique benefits:.
Get exclusive rewards for being healthy and managing your financial wellness. Get a quote in 60 seconds. Life cover for you and your family. Why do I need life insurance? Life insurance definitions. A Life Plan to suit you in every stage of your life. Benefits to enhance your cover.
We will pay out a lump sum if you suffer from a severe illness. We will pay out a lump sum if you become disabled. Additional benefits to provide further financial protection. Having life cover will help them with their living expenses like groceries, school fees and transport it could even pay off big debts like car and home loans. Life insurance policies are designed to pay benefits when the lives insured pass away by death due to any cause, including factors such as old age, cancer, most types of illnesses as well accidental death.
It will pay out a lump sum to your family to make sure that they are financially secure and stable. Premiums are usually paid for your whole life and as long as premiums are paid, the insurance company will pay the cover amount to the nominated beneficiaries in the event of your death.
Accidental death insurance, as the name says, is an insurance policy that pays out benefits only if death occurs because of an accident.
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