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Life Insurance |
Life insurance is the most basic form of personal insurance and should form the basis of any risk management financial plan.
There are many types of life insurance policies and different institutions offer many products under the same generic name. What is covered, the cost, for how long the rate is guaranteed, how long will the policy be in force, all these questions differ between products and make all the difference between a good product and one inefficient for it's purpose.
Term insurance has a rate guaranteed for a number of years, usually between 5 and 20. It is suitable to cover a liability which is time limited like a mortgage and other types of loans, or other temporary fiscal responsibilities.
Permanent life insurance with a level cost of insurance is the best type of insurance to protect against the financial impact of death and is a great choice for estate preservation. Universal life insurance policies provide the maximum flexibility to design a customized policy. The client controls all the cost elements and can balance between costs and maximum benefits.
Critical illness insurance mitigates the risk of serious illness. The insured can receive the benefits in the event of diagnosis of one in a set of predefined major illnesses.
Disability insurance covers the risk of debilitating illness or injury which prevents from being gainfully employed. The length of coverage, the period until the coverage starts and the monthly income are policy features that affect the rates. We can help you strike a good balance between costs and needs,
How much insurance you need and what type depends on your financial situation, your short and long term objectives, your risk tolerance. Should you pay more now to ensure a rate guaranteed for long term, or take the cheapest solution now although the rates will go up in a few years?
We can analyze your situation and create a plan that matches your needs. As insurance broker we are licensed to represent all products and can explain to you the various options available and help you select the plan best fitted to your circumstances. Please contact us to request more information.