Protecting Yourself & Your Family
What is Term Insurance ?
Term Life Insurance is life insurance that covers your life and possibly your family if applicable in the event of the client’s untimely death. Term Life Insurance will cover the client for a specified and agreed length of time.
Whether you’ve just had your first child or already have a young family, you’ll know that becoming a mum or dad changes your life. Your days are busier and your income has to stretch further. Like many busy parents you may take your own health for granted while looking after your little ones, but more than most you need to be prepared for the unexpected.
A family Term Protection Plan can be used to protect you and your family from the financial uncertainty and hardship that comes with unexpected illness or death. For a very small proportion of your income, you can put a financial protection plan in place to ensure you and your family would have the money needed if these unfortunate events should happen to you.
- The Premium cost is based on the age, health and the amount of cover the client can afford. In the event of death during this time, a cash lump sum will be paid out to the client’s dependants. This will ease the financial strain to the family during a very stressful time
Clear any loans or debts ensuring your family’s immediate finances are healthy
- Pay a lump sum amount on death to cover funeral expenses and other related costs
- Specified Illness Cover which is an option to a term plan. It gives the client cover on specified illnesses so the client can avail of a lump sum in the event of illness This gives the client complete peace of mind knowing that they are financially secure during a very venerable time and allows them the time to concentrate on getting their health back on track.
Pay a lump sum amount in the event that you suffer a serious illness, providing you with financial breathing space and allowing your family to maintain their current lifestyle
- These policies can have a conversion option which allows the client to convert the policy to a new policy at the end of the term to a new policy without the need for medical evidence, most plans over multiple conversion options.
- With most of these policies your children will automatically be covered on your policy for death or specified illness based on the cover taken by the parent
- Hospital Cash cover is also available with most plans as an additional benefit.