If you want to get up close and personal with Phumelele Ndumo, get yourself True Love magazine, October / November 2020 edition. It has Melanie Bala on the outside cover. Story on page 51
When you are buying a home, life cover is important so that when you pass on, your home loan would be paid up and your family will not lose the home. But even if you are not buying a home, it is still important to have life cover so that when you pass on, your family will have money to pay off all debts and the children would continue with school and university, etc.. I still get shocked whenever I come across a woman whose husband does NOT want to have life cover. I point out to her the risk she and her children are exposed to. I emphasise that it is important that both she and her hubby have life cover so that whoever passes on first between them, the surviving spouse is left debt free. If your husband dies and he has NO life cover, you could find yourself unable to pay for the home loan, car loan, school fees and other family expenses on your own and this is likely to negatively affect the quality of life you are accustomed to.
In most cases, the woman speaks to her hubby and he agrees and so we also offer him life cover. But there are those instances when the husband totally refuses to take life cover. Reasons that are put forward by these men are;
“ I don’t want to leave her with too much money because she will spend it with other men when I am dead” or
“ If I take life cover, she might kill me so she can enjoy the money”, etc…
All I want to say is this; “woman, make sure that your hubby has life cover so you are not left destitute one day, in case he passes on before you”. A self – respecting and loving man would want to ensure that his family is well provided for when he passes on. Men should focus on the fact that in the event that they pass on, especially while they still have young families, then the home would be paid up so there would be no need to move to a smaller home, the cars and other debts would be paid up and the kids can continue to attend the same schools because of the life cover.
Even if the kids are grown and the house and cars are paid up, life cover is still important because it will be used to pay for the Executors fees, Estate duty where applicable, Capital Gains Tax, Master of the High Court fees, take care of your loved ones, etc… If you really value yourself, you wouldn’t want to die without life cover
Read Chapter 8 of the book From Debt to Riches :Steps to Financial Success by Phumelele Ndumo with the title “ If you can’t afford to lose it, insure it” to get a good understanding of the importance of life cover
If you want life cover, you can email us at firstname.lastname@example.org