Why life insurance and funeral plans matter

At its heart, life insurance answers one question: what will happen to the people I love if I’m no longer around?

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A lump-sum payout, often tax-free, gives families the ability to cover daily living expenses, pay off debts, maintain children’s education or simply avoid financial distress during a time of grief.

But modern life insurance goes beyond just a death benefit. Many policies now offer living benefits, such as payouts in cases of disability, dread disease or severe illness. This ensures that cover is not only a safeguard for the future, but also a practical tool to provide support during unexpected challenges.

For many South Africans, life insurance has become an important part of broader financial planning. It is increasingly recognised as a way to build resilience against financial shocks, while also creating a base for longer-term stability.

Sanlam and Assupol’s evolving offerings