One or two insured parties?
If both spouses contribute to family income, the death or disability of one of the two should not lead to a drop in the family’s standard of living.
If only one of the spouses contributes income, then the absence of either of the two leads to an increase in expenditure or a reduction in income. Things like relatives looking after the children and the house are temporary measures. Sooner rather than later, expenses are going to rise, meaning a fall in disposable income.
If you insure your car and your house, then why not insure your own and your family’s lives?

What capital should we insure?
You have to think that you are catering for the future. Insurance which does not really cover the needs it is intended for is of little use.
In addition to covering debt, insurance should help maintain our standard of living, taking credit risk and the cost of life-risk insurance into account at all times. This is even more important in the event of disability.

This is not the best moment for more expenses...
Insurance is necessary for that very reason. You are in no situation to get by should disaster strike.
An awful lot is at stake in the event of a tragedy. You are jeopardising your family assets, savings, many years' hard work, the dreams of life together, the futures of your loved ones and, in the event of disability, your own welfare and that of your family.

I am single and do not have any children.
All the more reason and without much sacrifice. You do not want to create problems for your family or guarantors in the event of a tragedy.

What are the minimum and maximum ages for taking out life insurance?
The minimum age is 18 and the maximum is 64.Life insurance has a cover age limit of 65 and coverage for death can be renewed to the age of 70.

Who can I name as the beneficiaries of my life insurance?
The party insured can name as many beneficiaries as he/she wishes. If he/she fails to do so, then the beneficiaries shall be understood as his/her legal heirs. In the case of Debt cancellation insurance, then the beneficiaries are the financial bodies to which debts are owed.