The day you are able to afford your daily five bob cup of Joe at your favorite takeout or coffee shop is the day that you are able to take care of yourself in much bigger and more responsible ways. Like purchasing guaranteed acceptance term life insurance products from your accredited and licensed life insurance salesman or agent?
Indeed, there should be no excuse for not being able to provide life cover for you and yours. And even though you may be gainfully employed by a reputable company, you should never rely solely on what your company is providing you with in terms of life cover, medical aid, as well as a pension fund contribution. Because you will find that when you tally these benefits these are quite minimal. At least the best companies with their employees’ interests at heart, do ask them to seriously review their benefits on an annual basis.
That being said, it is usual to accept an increase in monthly contributions. The problem with this though is that the action is entirely voluntary, and there are many folks out there who forego this responsibility, thinking that they are making short-term monthly gains. Thinking short term is never helpful. The long term view should always be taken. It is for your own good. And it is certainly a big help to your family.
This would be the case should the worst ever happen. You can purchase minimal life term covers at monthly rates that you can afford. And when it comes time for you to renew, do accept the recommended annual premium increases. By the time payout is due to you or yours, you will find that you are left with monthly stipends and lump sums that make life worth living in the years to come.