How much life insurance is enough?
The famous saying “Life is short”, rings even truer now after two years of a global pandemic. The Covid-19 crisis struck quickly and unexpectedly, leaving very little time for people to prepare financially. But while a life-threatening virus spread worldwide, scientists predicted that human beings in the not-so-distant future, could live until 130 years of age.
Where does that leave your future plans, should you be readying yourself for another pandemic? Or prepping for a potential century of life? Either way, you would want your hard-earned money to be preserved and available for your loved ones when you’re no longer there.
The Afternoon Drive’s John Maytham recently hosted Karabo Ramookho, Strategic Marketing Manager at Old Mutual, to discuss how insurance newbies should approach insuring their life-saving and managing their personal finances.
Listen to the full conversation here:
Although modern employees may seek online advice and apply digitally, Ramookho recommends visiting a branch or arranging a call with a financial adviser when planning the future of your money. As daunting as life insurance sounds, she advises that any person looking at getting life cover should be honest with themselves and their current situation when planning their financial future.
Start where you are. As [things] in your life change, you can adapt your plan to suit youKarabo Ramookho, Strategic Marketing Manager, Old Mutual
She says that an adviser will asks more nuanced questions with regards to what your financial needs are, which will further clarify what the best plan is going forward.
To assist anyone who is still puzzled by the process of life insurance, Old Mutual’s “Find An Adviser” page provides a simple questionnaire that will lead to either a face-to-face, telephonic or video call consultation.
For financial solutions that suit your pockets and the needs of your loved ones, head over to the Old Mutual website.