Life doesn’t always go to plan. You may think ‘it will never happen to me’, yet some of us will die unexpectedly, leaving family and loved ones behind.
What Is Life Cover?
Life Cover protects the lifestyle and future of your family and loved ones if you die. Would your family cope with paying the monthly bills or making mortgage repayments without your salary? Would your
business survive without your expertise?
Life Cover is designed to pay a lump sum if you die prematurely. It is essential for those with family, business or other financial commitments.
Why Life Cover?
Repaying the mortgage - If the unexpected happens, there will be funds available to help pay off your home loan and safeguard your family’s future.
Day-to-day living expenses - Those everyday bills might not seem too much of a burden but they can really add up. Would your family be able to cover living expenses such as food, clothing and schooling without you?
Raising children - The cost of raising a family is significant. Life Cover can help ensure
that your children have the schooling and upbringing you’d want for
them, if you weren’t around.
Protecting retirement savings - In the event of death, there’s a lump sum available, which means
the nest egg planned for you, or your partner and family, isn’t put in jeopardy.
Funeral expenses - Your family will be protected from the significant cost of a funeral and related expenses. Sovereign Personal Life Cover can also provide a funeral benefit of up to $2,000 if your child should die as a result of an accidental injury