Do you leave your family with debt when you die?With how much debt do you leave your loved ones? Do you have life cover?
This doesn’t seem important now, but when you pass away will your family be able to maintain the lifestyle you set for them? Or will they be drowning in financial constraints?
The four major reasons for debt is the following and it’s your duty to ensure that you have life cover on each:
- Vehicle Finance
- Credit Card/s
Recently an elderly man passed away leaving his wife with the debt of 3 credit cards worth R120 000.Previously they lived from his pension fund and they never thought of having a combined pension fund. Now, she is left with the debt from her husband with no income whatsoever.You can just imagine what the lady is going through.Do you want to do the same to your family?