As many people criss-cross the country to make the most of the Easter holidays, one of the concerns for families and authorities will be the unfortunate increase in road accidents which often lead to severe injuries or worse, fatalities.
This can lead to a great deal of financial distress for families that do not have life insurance or those that are under insured, says Lee Bromfield, Chief Executive of FNB Life.
“This is the untold truth about the consequences of accidents on our roads, which means people have to ensure that their life insurance is up to date before embarking on their journey,” he says.
Bromfield shared the following advice for travellers:
- Review your policies – If you are planning to travel, it is important to review your policies in case anything happens to you or your loved ones.
- Update your beneficiaries – make sure your beneficiaries are updated as well as their contact details to enable a seamless pay-out process.
- Make sure you’ve updated all your personal details – up to date information is crucial to your claim being processed quickly, hence FNB Life encourages its customers to regularly update any changes in personal details such as marital status, address and contact details to avoid unnecessary delays.
- Don’t drink and drive – It’s important for people to avoid being involved in illegal and irresponsible behaviour such as drinking and driving because that can result in delays in their insurance claim should something happen.
- Have sufficient life insurance cover – In the event of an accident while travelling, the most important thing is to ensure that you or your family have sufficient cover to avoid financial distress in the event of an unfortunate tragedy.
“While reviewing your life cover or funeral cover may be the last thing on your mind before a holiday, the consequences of neglecting such could be dire. Before going on that well-deserved holiday, take a few minutes to ensure that this is done. For most families, life insurance is the last defence against financial ruin from a tragedy,” concludes Bromfield.
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