We insure our cars. We insure our houses. We even insure our pets.
But how many of us insure ourselves. You are the most important asset to your family.
Life insurance is for them not for you!
- Can your family maintain their standard of living without you?
- Can they afford to repay all outstanding debts and liabilities?
- How would anyone who is financially dependent on you survive?
- Would your children be able to complete their education if you
are not around to pay for it?
A properly designed life protection plan can:
- Protect your family in the event of your untimely death
- Provide a Fixed Lump Sum paid out to your beneficiaries
- Guarantee your Premiums and Level of Cover from Day 1
- Policies can be set up in the most suitable currency
- Policies can be set up in a Trust to protect your pay-out from
Estate Taxes and ensure prompt payment to your beneficiaries
You will never be younger or healthier than you are today!
Critical Illness Cover is a key part of Financial Planning which is designed to pay out a lump sum on the diagnosis of one of a pre-determined list of illnesses.
Critical Illness is for you and your family:
- Can your family maintain their standard of living without your ability to earn an income?
- Can they afford to repay all outstanding debts and liabilities?
- Would your financial plans significantly change if you were to suffer a critical illness?
With a Critical Illness plan you can:
- Use the lump sum to pay for medical treatment not covered by your health insurance
- Protect your family’s standard of living in the event of your untimely illness
- Provide a Fixed Lump Sum paid out to you on diagnoses of one of 38 illnesses
- Guarantee your Premiums and Level of Cover from Day 1
- Free Life Cover will be included in your plan up to the same level of your Critical Illness cover
- Children cover up to certain limits will be included at no cost
Also know as Decreasing Term Insurance will cover you for a specified amount on Day 1 of your policy and this amount will decrease each year in line with an agreed interest rate.
This type of policy is used to cover decreasing liabilities like mortgages and other debts or to provide a specific amount of cover that is reducing each year.
As the level of cover is decreasing, premiums are cheaper compared to other insurance products.
Whole life insurance covers you for your whole life provided you continue to pay your premiums. Whole life insurance policies pay death benefits and Critical Illness Benefits (if chosen), and they may also build cash value.
The cash value of a whole life policy can grow each year and you may have access to this cash during the policy or on surrender of the policy.
As the cash value is invested it is subject to normal investment risks so the policy value cannot be guaranteed and must be reviewed on a regular basis.
A Whole of Life policy can be used in planning for Estate Tax / Inheritance Tax Liabilities in the future.
