Life Insurance Cover

Life Insurance cover is something that you put in place for your family so that they will be able to survive financially if you were to die.

You choose how much life insurance cover you need, put the cover in place, pay the premiums and then if you die, that money is available to your family.

Life insurance is used to repay debt (mortgage debt, credit card, hire purchase debt), to pay for funeral costs and to replace the income that you would have generated if you were still alive, so that your family has funds to live off.

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All life insurance policies are NOT created equal

There are a number of additional benefits other than the payment of the life insurance, that you can get as part of your life insurance policy:

  • Terminal Illness Benefit (where the insurance policy will pay out some or all of the life insurance cover if a doctor signs off that you are terminally ill.)
  • Funeral or Early Payment for Expenses Benefit
  • Financial Advice Benefit

It is important to make sure that you are getting the best value for your money, which is where our analysis and research will assist you. We will review the leading 8 insurers for you and provide you with a full price and quality analysis if you wish.

How much life insurance cover do I need?

As a general guide, most people aim to have enough cover to pay off all their debts upon their death, as well as $10,000 to pay for a funeral. Most people also aim to have enough insurance to cover the income that would be lost to their loved ones on their death for a period of time.

What do I need to be aware of when I have life insurance?

Your life insurance policy will only pay out when you die if:

  • 1.Your premiums are paid and up to date.
  • 2.You have disclosed everything relevant at the time that you apply for the life insurance cover.
  • 3.You haven’t committed suicide in the first 13 months that the insurance policy is in place.

How do we help you with your Life Insurance?

After talking with you, we research all the options available to you, to find the life insurance that is most suitable for you. This takes into account your criteria, whether that is best quality cover, or best cost cover for your needs.

We then assist you to get that insurance cover in place with the least possible hassle to you.

After the insurance is in place, we will keep in touch with you, to answer any queries that you have about your insurance cover. If you have a claim, we are here to assist you with that process, to reduce the stress on you. Payment of claims

Life insurance is the key benefit provided by insurance companies. They pay out on a large range of reasons for death. Here are some examples of claims paid by some of the insurers that we work with:

 

Age Sex Cause Benefit Paid
27 M Accident $350,000
30 M Cancer $32,359
30 F Accident $445,391
37 M Heart Disease $370,493
41 M Cancer $257,315
46 M Cancer $1,273,233
56 F Cancer $197,315
57 F Cancer $500,000
59 M Stroke $160,045