Life insurance is a financial product designed to provide a lump sum payment to designated beneficiaries upon the death of the insured person. This payment, known as the death benefit, can be used to cover various expenses such as funeral costs, debt repayment and living expenses.

These are some of the benefits of life insurance for those you leave behind.

• It ensures that your loved ones are financially protected in the event of your death. This can be particularly important if you are the primary earner in your household.
• It can help cover outstanding debts, such as mortgages and loans, relieving your family from financial burdens.
• It can replace the income of the deceased, allowing the family to maintain their lifestyle and meet daily expenses.
• Provides them with the opportunity and time to decide their next steps now that you are no longer there.
• Helps cover the costs associated with funeral arrangements, easing the financial strain during a difficult time
• Ensures that your children’s education remains uninterrupted, providing funds for school fees and other educational expenses

Whether it’s covering debts, supporting education, or providing income replacement, life insurance plays a crucial role in safeguarding your family’s future

This information is of a general nature and is not intended as personalised financial advice. RIVAL Wealth is a Financial Advice Provider (FAP) licenced by the Financial Markets Authority to provide financial advice. Our disclosure document is located at rivalwealth.co.nz or a written copy is available on request