In life, there are a lot of things we can predict, like taxes, time and the weather. However, we certainly cannot predict an illness or accident. For that reason, there’s not one person on this earth who doesn’t need life insurance.
Only getting covered after a tragedy happens
Getting life insurance shouldn’t be an afterthought after something bad has happened to you. In fact, leaving it too late to get covered will only mean more hassle for you or your family if anything bad ever did happen. So, if you don’t already have life insurance, don’t keep chancing your luck – get Cuuvered today!
Thinking you’re “too young” to get life insurance
Life insurance is usually cheaper when you’re younger, because you are fitter and generally healthier in your youth. So, do take advantage of your age and the benefits that come with it, especially when it comes to life insurance – don’t assume that your young age grants you immunity from unexpected incidents that may require the benefits of life insurance.
Neglecting the policy document
Yes, it’s easier said than done, but reading your policy document is so crucial before and after you’ve purchased it. If you don’t have a thorough check through your policy, you could damage your chances of gaining the cover you need if something were to happen to you.
Look out for what you need to be covered for. Remember, it’s not too late to change your policy. In fact, after 30 days of purchasing life insurance cover, you can change your mind and find an alternative policy that is better suited to you.
Choosing the wrong amount of coverage
Buying the wrong amount of coverage can do you almost as much damage as not having life insurance. Our top tip is to plan ahead; It’s really important to consider your long-term commitments, which may need to be covered by your policy. To calculate how much coverage you truly need, make a list all of your long-term financial obligations and simply take away your savings and life insurance coverage.
This should not be constructed as advice and is guidance only.