The gift that keeps on giving
Life is about choices. You have the power to make a wise one for your family, cover them for any circumstance. Give them the gift that keeps on giving with iWYZE Life Insurance.
With Old Mutual iWYZE, you can a life insurance quote in less than a minute–the entire process takes less than 12 minutes. Old Mutual iWYZE Life Insurance protects your family against the financial implications of your death or terminal illness. This ensures that should the unthinkable happen to you, they will be financially secured and able to still afford lifestyle expenses, pay off outstanding debt, education and more – even if you are no longer able to provide for them yourself.
Life insurance provides money, or what is commonly known as a death benefit, to your chosen beneficiaries after you die. It can help give your loved ones access to money when they need it. Understanding life insurance can help you plan for your family's long-term financial needs.
If the question in your mind is, “Why should I get life insurance?” then you need to think about everyone who is financially dependent on you. Life Insurance can be a way to provide for and protect them financially, making it an important (and often surprisingly affordable) part of a financial plan.
With every life phase and goals reached, comes a need to prepare financially. Think about your biggest financial dreams, like buying a house, sending your kids to school i.e. university, primary and secondary school, or planning for retirement.
As you and your family saves for these milestones, life insurance can provide protection against the unplanned. If you were to die unexpectedly, a life insurance policy would provide your family with a tax-free cash payout they can use for whatever they need. That money can help cover daily expenses, ease financial burdens, and pay for those goals you’ve worked so hard to achieve even if it means they’re achieved in your absence.
How Old Mutual iWYZE Life Insurance works?
An Old Mutual iWYZE Life policy pays out a lump sum (choose from cover between R150 000 to a maximum of R3 million) after the death of the person noted as the Life Assured. This money is tax-free and can be used in whatever way the beneficiary sees fit – including emergency and general living expenses.
You can choose the level of life cover that best suits your needs and pocket. There are also additional benefits that come standard with an Old Mutual iWYZE Life policy, including:
- Terminal Illness Benefit, which allows for a lump sum payment when diagnosed with a terminal illness with a life expectancy of no more than 12 months.
- Guaranteed Assurability which means that when something significant happens in your life, such as buying a new house or the addition of a new family member, you can increase your level of cover by up to 25%.
This will ensure that:
1. Your family's financial future is secured
Think of Life Insurance as a way of securing yourself and your family financially. All parents want their children to be taken care of even when they are not around. Life Insurance makes sure your loved ones won't suffer financially in your absence. There is no way to replace a loved one but planning with Life Insurance does help in taking care of the financial needs of the families.
2. Reach your financial goals
We all have some goals in life, for which money needs to be saved. A Life Insurance policy will assist with achieving your goals and also help you build financial protection. Paying a little amount as an insurance premium each month will help you accumulate funds. What's even better is that this small monthly amount only keeps growing. So… years from now, you'll have enough wealth accumulated to accomplish your more substantial and long-term financial goals.
3. Peace of mind is just that…
Having Life Insurance will give you peace of mind. Life is uncertain, and life insurance can offer financial assistance to your family when you are no longer around. You can also plan your retirement by taking a retirement plan where you will receive a monthly income.
Protect your children’s future
No life event should ever keep your children from chasing their dreams. Empower your family with endless possibilities. Every parent wants to provide their child with the best possible future. Life Insurance cover will ensure your child has the best possible future even when you are not around.
SOURCES
https://www.iwyze.co.za/products/life-insurance
