Tenzing Pacific Life Insurance
Tenzing Pacific Insurance Services No Comments

People have many motivations for taking out life insurance. It could be they know someone who passed away prematurely. Perhaps they had a close call with a personal health scare, traffic accident or there’s a history of cancer in the family.  Whether you’re a current life insurance candidate or not, there are many reasons to get life insurance.


Here are our top 6 reasons to get life insurance:

1) Repatriation of Mortal Remains

If you’re an expat & you were to pass away while abroad, there are extra related expenses to your death abroad.  This is sometimes covered as a health insurance benefit.  While it’s a bit grim, the reality of the matter is it’s not cheap to repatriate a body. There are costs related to:

  • Death investigation costs
  • Preparation of the body
  • Cremation or Casket costs
  • Legal documents
  • Shipping

If the body is cremated locally, then repatriated, the price starts at $5,000 as a base price.  If the body is repatriated in a casket, then the price starts at $10,000 as a base price.

In all situations, this is handled on a case-by-case basis & the final price will ultimately depend on the company used, home country & what is required.

2) Burial Expenses in your Home Country

The repatriation of a body does not mean there are not further funeral or burial expenses in your home country, where the cost can be a lot higher than in Southeast Asia.  For example:

  • Wake & funeral expenses
  • Cemetery plot, gravestone & maintenance fees
  • Other legal fees

3) Replace Lost Income

Replacing the lost income is likely one of the more immediate things people think about. The life insurance benefit can help pay for things like:

  • Rent/Mortgage payment & other bills
  • Food
  • Transport expenses
  • Other necessary daily, weekly & monthly expenses
  • Expenses for graduations, holidays, back-to-school, travel
  • Education

4) Children’s Education

Another primary concern for parents taking out life insurance would be their children’s current & future educational prospects . Not only do you have to think about the type of educational institution you would like them to be able to afford to go to, you would need to think about how much those institutions will cost by the time they reach that age.

5) Pay for Debts, Liabilities & Mortgages

If you have a mortgage, unpaid loans or other outstanding liabilities that need to be paid off, then you would want to consider the total value of those when calculating how much life insurance benefit you require.

6) Family’s Lifestyle

Simply put, if you don’t want your family to have the pressure of making sudden lifestyle changes to accommodate your lost income, then life insurance is a solution to that.

If you think about it, it is the ultimate parting gift that someone could leave their family.  Most people probably don’t want their loved ones to have to upend their lives. The passing of a loved one is already hard enough on your family, but it doesn’t have to be financially for them.

Get Life Insurance

Get in touch

If you would like to have a confidential conversation with a Tenzing Pacific Insurance adviser about how to get Life Insurance, contact us today to:

  • Understand how much benefit you need
  • Discuss options available to you
  • Find the best plan for your needs


Book an Appointment