Why you need insurance: the risks are real

And here are New Zealand’s Top 20 causes of death…

Statistics taken from World Life Expectancy Website.

Here are the Top 5 reasons why you should get Life Insurance…

1. To Pay Final Expenses
   The cost of a funeral and burial can easily run into the tens of thousands of dollars, and you don’t want the people you leave behind to suffer financially in addition to emotionally at your death.
2. To Cover Children’s Expenses
   Like most parents, you want to be sure your kids are well taken care of and can afford a quality education. For this reason, additional coverage is absolutely essential while my kids are still at home.
3. To Replace the Spouse’s Income
   If your spouse passes away while the kids are young, you would need to replace their income, which is essential to your lifestyle. You also might need to hire help for domestic tasks you share, like cleaning the house, laundry, cooking, helping with schoolwork, and carting kids to doctor’s visits.
4. To Pay Off Debts
   In addition to providing income to cover everyday living expenses, your family would need insurance to cover debts like the mortgage so they wouldn’t have to sell the house to stay solvent.
5. To Buy a Business Partner’s Shares
   If you’re involved in a business partnership, you need insurance on your partner’s life. The reason is so if they die, you will have enough cash to buy their interest from the heirs and pay their share of the company’s obligations without having to sell the company itself. Your partner also has the same needs (due to the risk that you might die), and they should simultaneously purchase insurance on your life.