One of the most important expenditures the average family makes in its lifetime is the purchase of life insurance. It is absolutely critical that you make the right decision about the kind and amount of life insurance to purchase. In fact, the wisdom of your life insurance purchase could make a major difference in your family's security, should you die, and your quality of life.
Life insurance, therefore, is the foundation of a sound financial plan. Life insurance doesn't "insure life" so much as it protects your dependents against the uncertainties of life and consequentially, from the loss of financial support by providing cash to your family after death. This cash replaces the income the deceased would have provided if he/she were still alive.
There are many reasons for buying life insurance. If you're the primary wage earner in the family, life insurance is a good way to help provide your family with a stable financial future. Traditionally, life insurance was purchased for men only, since they were considered the breadwinner of the family. Times have changed and many women should now be covered, particularly those who are single mothers with sole support of their children.
While it's difficult to face our own mortality, planning for it can ease the burden our loved ones will face later. Purchasing life insurance can help make a difficult situation easier by providing cash benefits for: unpaid medical bills, income replacement for survivors, unplanned or emergency expenses, mortgage payment, and provide for the education and basic living needs of your young children. Some life insurance products can also be used as a component to your savings strategy, and for retirement income.
DISABILITY INSURANCE
Other than Life Insurance Demerara life can cover you with disability insurance which provides income if a person is injured and cannot work.
LIABILITY INSURANCE
Anyone who drives a car, owns a home or any other real estate, operates a business, or employs people, runs the risk of liability for an accident. That accident may result in property damage or injury or death to another person. Consequently, a driver, property owner, or employer may be liable or morally responsible to help victims of an accident or their families.
PROPERTY INSURANCE
Insures against the loss of property - home, business, car or other valuable possessions. Home insurance policies typically include coverage of certain items inside one's home.
TERM INSURANCE
The first building block for your financial future
Thinking of your financial future? Think of Demerara Mutual’s Term Insurance. By taking out Term Insurance with Demerara Mutual, you’re well on your way to building a strong financial foundation for your future investments.
With our Term Insurance plan, we give you that collateral that you always wanted to apply for major loans and mortgages. By paying your low premiums over time, you will increase your credit ratings.
By taking out Term Insurance for your children, you will lay the foundation block for their financial future. It will provide your child with sound collateral for future loans for eduction, home improvement or to get a mortgage for their own house. And because they are still young, term insurance with Demerara Mutual will cost you only pennies a day!
So don’t wait any longer to get that first building block! You will be suprised how affordable it all is with Demerara Mutual!
FUNERAL EXPENSES
When you’re on your way to heaven, leave the travel expense to Demerara Mutual.
Demerara Mutual now offers you Funeral Expense Insurance, which will help your loved ones to have one worry less during their time of mourning.
For only a small monthly premium that costs you less than a bus ticket, Demerara Mutual will cover all your funeral expenses.
