There are several ways in which to protect yourself and your family in the event of an untimely death.
Most people take out life assurance to provide for their families and alleviate any financial worries at a difficult time.
Level Term Assurance
Pays a lump sum in the event of death during the term of the policy. The benefit is paid tax free and premiums are usually monthly and fixed throughout the term.
Decreasing Term Assurance
Works similar to Level Term Assurance, but the benefit is set at outset and gradually decreases over the term of the policy. These policies can be used as a cover for a repayment mortgage, or other loans where the amount of capital outstanding also decreases over time.
Family Income Benefit
Works the same as term assurance but instead of paying a lump sum upon death, it will usually pay a regular monthly/annual tax free income in the event of death to your dependents up until the end of the term of the policy.
Critical Illness Insurance
Provides a lump sum in the event of you suffering from a serious illness such as Heart Attack, Stroke, Transplant, Blindness, Total & Permanent Disability, etc. This can give you and your family much needed financial breathing space at a very difficult time in your life.
Income Protection
This policy is designed to provide an income in the event you are unable to work due to ill health. The level of premium will depend upon the amount of benefit and term selected and most policies cease to pay the benefit once the insured is able to return to work. Income Protection policies are usually written to retirement age.
Business Insurance
Keyperson / Shareholder / Partnership Protection
Keyperson – To enable businesses to protect against the loss of a key employee or business owner.
Shareholder/Partnership Protection – To enable businesses to provide a lump sum in the event of the death of a partner/shareholder which will enable the remaining shareholders to purchase the shares of the deceased.
Insurance can be a complex subject, not knowing how to get the most cover or best price. Let us take care of it for you, in a short call we can get all the information we need to do right by you.