For a parent, few things in life are as rewarding as knowing that you can give your children every possible opportunity to succeed, including a quality education.
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For most parents, everyday life is a whirlwind of activity. With balancing work and family, most of our waking hours are spent catering to the needs of others – whether it is the demands at the office or the little ones at home.
Despite the sacrifice, few things in life are as rewarding as knowing that you can give your children every possible opportunity to succeed, and providing a quality education is at the top of most parents' priority lists.
What if you are faced with the unthinkable?
According to John Kotze, Head of Retail Protection Product Marketing at Old Mutual, all parents should face an uncomfortable yet important question when planning to secure a quality education for their children: “What if something happens to me?”
“The thought of not being there to witness a child’s milestones is heartbreaking,” says Kotze. “However, it is crucial to consider how you can help them achieve their goals if the unforeseen happens and you pass away. This is why having life insurance as part of your financial plan is so important to secure your child’s future.”
Is life insurance worth the investment?
Old Mutual’s 2023 claim statistics show that the unexpected passing of a breadwinner at any age is always within the realm of possibility – and it happens far more often than most think.
In 2023, Old Mutual paid 98% of all death claims totalling an astounding R5.6 billion. Claims payouts started as young as 20 and were relatively evenly spread between men and women.
These numbers paint a clear picture; tragedy can strike anywhere, regardless of age, gender or lifestyle. Life insurance can provide parents with the peace of mind that the future they want for their children remains possible, even when they are no longer there.
Choosing a trustworthy financial service provider
“Trust is everything when it comes to selecting a financial service provider, and partnering with an accredited financial adviser can help you protect the ones you love with life insurance that suits your lifestyle,” says Kotze.
Old Mutual paid R14.1 billion in risk claims across Old Mutual South Africa in 2023. “That is an average of R57 million for every working day. These numbers serve as proof that Old Mutual consistently strives to honour its promise to be there for their customers, especially in the moments that they need them most.”
One conversation can ensure a lifetime’s peace of mind
Most of us want to believe there will always be more opportunities to create a brighter future for our children. Unfortunately, life is uncertain and that will not be the reality for all of us.
Reach out for a tailor-made life insurance solution to secure your child’s future, even beyond your lifetime. It starts with a single conversation that can bring a lifetime’s peace of mind.
Speak to your financial adviser today or click here to learn more.
* Old Mutual Life Assurance Company (SA) Limited is a licensed FSP and Life Insurer.