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If you need a list of reasons to get life insurance, here are a few to get you started. Life insurance is one of those things that few people could fail to benefit from. It offers peace of mind to the policy holder and financial support to its beneficiaries.

Most obviously, life insurance can provide for your family in the event of your death. It essentially works like this: in return for your monthly premiums, the insurance company agrees to pay a lump sum to your beneficiaries (the person or people you designate to receive the death benefit).

It is important to remember that with this policy, no restrictions are placed up your beneficiaries as to how they utilize the money. Your beneficiaries can decide if it will be used to alleviate debt, purchase their home, or even attend college. The amount they receive will vary depending upon the type and coverage you purchase.

In some cases, the payout is used to pay off specific debt. Because debt can be a large part of our financial picture, many people choose to link their largest debt obligations to a decreasing term insurance policy. For example, if you choose to cover your home loan with decreasing term cover, your premiums for this cover will decrease as you make your loan installment payments. If you die before the loan is paid in full, the insurance company will pay the balance of the loan directly to the bank.

If you would like your insurance death benefit to pay more than just enough to settle outstanding deaths, whole life insurance may be a viable option. Here, premium payments are made in the course of your life. Plans are available where you to pay a level amount throughout, or pay higher premiums at the start of the policy. Depending on the plan, payments cease stop at age 60, 65 or 85 but coverage will still continue. In the event of your death, the insurance company will pay out a benefit to your chosen beneficiaries. The benefit does not depend on how long you have actually held the policy.

If you are HIV-positive, South Africa is one of only two countries that offer life insurance cover for people with HIV/AIDS. Your premiums may be somewhat higher, and your insurance provider will require you to maintain antiretroviral treatment.

Make sure that you deal with reputable and dependable companies that are known to honor their payout agreements. Most experts recommend checking with more than four companies to find out about the different options and plans in the market.

Bear in mind that a life insurance policy may be the only protection your family has from financial hardship in the event if an unexpected death. The peace of mind coming from the knowledge that your family will be provided for more than offsets any inconvenience you may experience now.

Tom Martens is the syndication coordinator at lifeinsurance-southafrica.co.za. South Arica’s leading Life Insurance portal

Frequently, people have misconceptions about North Carolina estate planning and what it entails. You should be building your estate plan with the best interests of your family in mind. Sound legal advice should guide you with regards to the estate plan that is best for you, not myths and misunderstandings.

I’ve listed 3 of the most common myths about North Carolina Estate planning below.

1. A will is unnecessary – The consequence of not having a will in place is that the state will decide how your property is handled. North Carolina will share property between children or parents. The state will also decide such things as guardians for children that are minors. The best course of action is make these decisions ahead of time so that your wishes are followed through.

2. If I have a will than I will not need to go through probate proceedings – A will does not guarantee that you will not go through the probate process. What a will does is to serve as an order to the court to supervise your estate distribution. The probate process facilitates this. There are other ways of avoiding probate including a living trust. The best thing to do is discuss your wishes and options with an estate planning attorney.

3. I’m not going anywhere for awhile, all this stuff can wait – We never know what life is going to bring our way. It’s better to be prepared and plan for the benefit of your family and loved ones. In difficult times, you don’t want your thoughts to be consumed with worrying about what happens to your family. It’s best to speak with a North Carolina estate planning attorney to address these issues sooner rather than later.

Take the initiative to address your estate plan with a North Carolina estate planning attorney. Getting your affairs in order is a loving thing to do for both yourself and your family.

North Carolina estate planning attorney, Sabrina Winters, will change your concept of Estate Planning as the need to merely “create it and forget it”. Although the documents are important and necessary, building lifetime relationships with our clients are as important to our Firm. Discuss your estate plan with a North Carolina estate planning attorney who has your interests in mind.