What is life assurance?
Life assurance is a financial product that can help to protect your loved ones financially if you were to die. It works by providing a payout to your beneficiaries when you die, which can be used to cover household expenses, such as a mortgage, or to provide financial support for your children.
There are two main types of life assurance policies:
- Whole-of-life policies: These policies provide a payout when the policyholder dies, regardless of when that happens.
- Term life assurance policies: These policies cover you for a set period of time, such as 10 or 20 years. If you die during the term of the policy, your beneficiaries will receive a payout.
The amount of the payout you receive will depend on the type and level of coverage you purchase.
If you are worried about what might happen to your family's financial security after you're gone, it is important to speak to a financial advisor about life assurance. They can help you to find the right solution for your needs.
Here are some of the benefits of life assurance:
- It can help to protect your loved ones financially if you were to die.
- It can provide peace of mind knowing that your family will be financially secure if something happens to you.
- It can help to reduce your tax liability.
If you are considering life assurance, it is important to shop around and compare different policies before you make a decision. You should also speak to a financial advisor to get their advice on the best policy for your needs.
Critical Illness Cover
What is critical illness insurance?
Critical illness insurance is a type of insurance that can help to protect you financially if you are diagnosed with a serious illness. It provides a lump sum of money that can be used to cover expenses related to your illness, such as medical bills, lost income, and home modifications.
How does critical illness insurance work?
Critical illness insurance works by providing a lump sum of money if you are diagnosed with one of the illnesses that is covered by your policy. The amount of money you receive will depend on the type of policy you have and the illness you are diagnosed with.
What illnesses are covered by critical illness insurance?
Critical illness insurance policies typically cover a wide range of serious illnesses, including heart attack, stroke, cancer, multiple sclerosis, and kidney failure. Some policies may also cover less common illnesses, such as Alzheimer's disease and Parkinson's disease.
Is critical illness insurance right for me?
Critical illness insurance can be a valuable financial tool for anyone who is concerned about how they would manage financially if they were diagnosed with a serious illness. If you have dependents or other financial obligations, critical illness insurance can help to ensure that you are able to meet your financial needs even if you are unable to work.
How much critical illness insurance should I buy?
The amount of critical illness insurance you need will depend on your individual circumstances, such as your age, health, financial obligations, and risk tolerance. It is important to speak to a financial advisor to get personalised advice on how much critical illness insurance is right for you.
Where can I buy critical illness insurance?
Critical illness insurance can be purchased from a variety of insurance companies. It is important to compare different policies before you make a decision to ensure that you are getting the best possible coverage for your needs.
How we consult with you
We will work with you to understand your individual circumstances and goals, and create a personalised life assurance policy that is right for you.
- Talk to you about your future plans, your money needs, and look at what you're earning now, including any pensions, assets, savings, and investments you have.
- Discuss your financial dreams and how you want to live, both now and when you retire.
- Build a long-term financial plan that figures out how much coverage you need to maintain your lifestyle.
- Explain in simple terms what your loved ones would get if something were to happen to you.
- Keep an eye on your policy through regular check-ins.
- Make sure your policy adjusts accordingly to life events, such as getting married, divorced, having grandkids, or changes in income.
- Be on the phone and quick to reply to emails to answer your questions, whether about your policies or the economic world at large.
We are here to put you in charge of your financial plan, knowing we've got your back, no matter what life throws your way.
Contact us today to learn more about how we can help you protect your loved ones financially.