Life Insurance Basics

What if you’re not there anymore? The event of death is often an unexpected one. The loss of an individual also implies the loss of the income that individual would be earning and thus the ability to repay debt and are often a burden for dependants.

Did you know that ownership of life insurance has been declining severely over the past couple decades? And those who have purchased life insurance usually do not own enough? Studies show that 87% of adult South Africans have no life insurance whatsoever. Lack thereof has caused many widows and widowers to have to drastically change their lifestyles.

For these reasons and more, Covision want to educate consumers on life insurance products and how they can help consumers achieve financial security, and encourage South Africans to take stock of their life insurance needs and ensure that they are adequately met.

We want to get the message across that these alarming statistics do not have to continue. Life insurance can be affordable and even inexpensive.

There's a growing crisis in South Africa of people not having the life insurance coverage they need to make sure their loved ones would be ok financially if something were to happen to them. We need to work hard year-round to educate the public about important insurance topics.

People are risk averse creatures by nature. We don’t like risks. Some like risks more than others do, but fact remains that we will always try to minimize the risks that we are exposed to. The section “Different Insurance Needs For Different Stages Of Life” provides some details tying in different risk products to different needs.