Personal Life Insurance
Personal life insurance is generally taken out to cover your changing risk needs as you progress through life. It’s an insurance policy that, in return for the payment of regular premiums, pays a lump sum on the death of the insured. In addition to life cover, your Life Insurance should be flexible and adaptable, covering you not only on death but also on disability or retirement.
1. Life, Disability and Critical illness Insurance
When choosing a life policy it is always important to ask yourself:
- Will those I leave behind at death have enough money to meet their needs into the future?
- Will my children be able to complete their education if I am unable to provide for them through death or disability?
- Can my debts be met if I die?
- If I am disabled will I be able to support myself and my family?
- Will I be able to save enough money to provide for my retirement?
2. Disability Benefits
You can add value to your life policy with disability cover that will cover you for temporary or permanent incapacity resulting from injury or disease.
This disability may mean that you are medically unfit to work, because of an accident or illness. This Insurance will then pay a cash amount to you to look after your needs into the future.
Finmar Life is an affiliate company specialising in Life Insurance packages.