Financial protection through life insurance in the event of death is a topic that often makes people uncomfortable. However, it is not really an entirely unpleasant conversation.
With life insurance from Zimnat you can stop worrying and start enjoying cover and peace of mind. Simply put, life insurance is the exchange of a relatively small payment of money each month for a larger amount of benefit paid out in the event of death.
Zimnat Life Assurance is a member of the Zimnat Insurance Group, a diversified financial group operating in Zimbabwe and associated with the Sanlam Group, which is the largest non-banking financial services group on the continent.
Most people will at various points in their life work or run a business, earn an income, build a family, grow old, retire and pass on.
Life insurance becomes particularly important in instances where you have a family dependent on you.
In a family where everyone’s livelihood depends on a single income, the moment that income ceases due to either death or retirement everything comes to a standstill.
Life Insurance may not be able to replace the life of a dearly departed family member but it at least guarantees financial security.
Death cannot be controlled or planned. The worst experience for any family is to have to deal with debt while grieving.
If a person dies with an unpaid debt or as a co‑signatory on a loan such as a mortgage, the duty of repaying the debt or servicing the loan falls on the surviving signatory or surviving kin, who may be exposed to the wrath of debt collectors.
The heavy burden of finding repayment solutions will fall on them. Life insurance from Zimnat ensures such predicaments are avoided as it covers debts acquired.
The notion that if one spouse has life insurance the other spouse does not need it, is incorrect. The most advisable thing to do is for both spouses to have life insurance policies, especially when there are children involved.
The loss of one spouse’s income is a financial setback for the family. A life insurance pay-out will cushion the setback, while the other spouse continues to care for the family.
Another misconception about life insurance is that the young and single do not really need it. The opposite is actually true. Better still the premiums are cheaper when you are younger, healthier and at less risk of falling sick.
Financial planning at all stages of your life is vital regardless of your age or marital status. There may be differences in responsibilities and the cover required but when the unexpected happens you need to be prepared for that change in circumstances.
Additionally, life insurance is not limited to spouses and children but can also be taken out for members of the extended family, who often become dependants at some point.
Finally, formally employed people who have life insurance cover through their employer need to remember that it is also important to take out their own personal life cover as the employment-related cover can be affected by loss of employment or change of jobs.
Zimnat is driven to make the lives of its clients better and has the right package for every pocket. Products range from Micro-Funeral Cover to Family Funeral Plan, Security Plan, Personal Pension Plan and Whole Life Plan.
Zimnat ensures that lives continue and dreams are fulfilled. Nothing can beat the peace of mind that comes from knowing that.
Some parting advice: stop worrying about financial obligations for when you are not there, simply get life insurance from Zimnat.
Contact us today on our toll free number 08080063/4/6