TRUE, when you’re dead you won’t need to worry about money. But your loved ones will...
WHEN he died, Michael Jackson’s family received a few million dollars (an undisclosed amount) in an insurance pay out; Heath Ledger’s family got $10-million upon his passing; while Paul Walker’s loved ones got as much as $50-million after the actor was killed in a car accident.
No one, not even celebs, are exempt from death, and worrying about finances shouldn’t be a priority when losing a loved one. But despite increasing awareness about the importance of having life insurance, many of us remain confused and undecided due to myths that uninformed people spread through the grapevine. We chat to Lee Bromfield, CEO of FNB Life, on seven of the biggest myths that consumers have about life insurance.
Only Married People Need Life Insurance:
ONE of the biggest misconceptions about life insurance is that if you are single, don’t have children or are still young, you do not need cover. Life insurance caters for anyone that is financially dependent on you in the unfortunate event that you pass away.
Prevailing Health Issues Will Prevent You From Getting Cover:
YOU may pay a slightly higher premium than the average person if you have a pre-existing health issues due to your risk profile. However, if the health condition is well managed, you should have no challenges getting life insurance. For example, there are many people living with chronic diseases such as diabetes, hypertension and asthma that have life cover. Moreover, people who engage in dangerous hobbies and habits like smoking are also eligible for life cover.
This story is from the {{IssueName}} edition of {{MagazineName}}.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the {{IssueName}} edition of {{MagazineName}}.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Sign In
A Glimpse Into A Prince's Charming World
What's home life like now for the future king?
Can Your Relationship Survive Addiction?
Loving someone with an addiction can be incredibly tough.
DRINKING YOURSELF TO Death
“FIRST you take a drink, then the drink takes a drink, then the drink takes you.” – F. Scott Fitzgerald
Vote Team Meghan & Harry
LIFE is a royal mess as Meghan and Harry call it quits on the crown.
With A Kiss...
TWENTY years of Oscar night shocks, triumphs and embarrassing moments!
One's Horrific Enough – She's Surviving Five!
She thought she had flu; it turned out to be so much worse.
Housebound By 20 Litres Of Fat!
A MOM is pleading for strangers to fund ife-changing surgery.
Geordie Shore's Scotty T Still Bankrupt!
Former Geordie Shore star Scotty T had been enjoying the lifestyle of the rich and famous a little too much and is still officially bankrupt, having been declared such nearly a year ago after reportedly owing creditors over R2.9-million.
Royal Secrets Revealed
Details the family doesn’t want you to know...
The Price Of Pet Insurance
We all love spoiling our pets but some of us have more money to burn on our fluff bums than others.