Pure Life Plus Cover is one policy that combines life and funeral cover. Life insurance pays out a lump sum to beneficiaries in the event of the life assured's death, to help them pay off debt and pay for their expenses, such as living expenses and education. Funeral cover pays out quickly when a member dies, to help you pay for the funeral and burial costs of family members covered on the policy.
You can save 28% on premiums with a Pure Life Plus policy, as compared with buying two separate policies. When you take out one policy for life and funeral cover, you have all the benefits and peace of mind of life cover for yourself and funeral cover for your family, and more money in your pocket every month.
They are different insurance products with different benefits. A life insurance policy gives a family financial protection when the breadwinner passes away. The tax-free lump sum pay-out can be used to cover costs such as education, pay off the bond on the family home and medical cover. Your family can also use the pay-out to save and invest and start building generational wealth for future generations. A funeral policy pays out quickly, so you don’t have to worry about money for funerals and related expenses. If you have integrated life and funeral cover like Pure Life Plus Cover, both are taken care of.
Generational wealth is family assets like money or property that is passed from one generation to the next. Each generation not only benefits from generational wealth but also grows it and passes it on to the next generation. This blog explains generational wealth in more detail and discusses why it is so important, not only for you, your children and theirs, but for the whole country.
Defining generational wealth is easy, building it requires planning and dedication! You should focus on saving and investing wisely, paying off the bond on a home that you can leave to your children, starting a side hustle to generate extra income for future generations and of course ensuring that you have sufficient life cover. Follow the link for more advice on the best way to build generational wealth.
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