In order to protect your family from the unexpected, a life insurance policy is an absolute must-have. It’s important to take into account what kind of coverage you need as well as how much cover you will require. We have all kinds of policies available and we can tailor-make a policy to suit your individual needs.

Some people are under the impression that life insurance is only necessary if you have dependents. This, however, is not the case. If you are the main breadwinner in your family, then life insurance is vital to ensure that your loved ones are taken care of financially in the event of your death.

Types of Life Insurance

There are two main types of life insurance policies available: level term assurance and decreasing term assurance.

Level term assurance: This form of insurance has the sum assured, which is also known as the “sum assured,” remain at the same level throughout the duration of the policy. This sort of insurance is often secured to assist pay off a mortgage and is best used with interest-only loans, where the outstanding amount does not change.

Decreasing Term Assurance: In the event of death, this policy gives a cash lump sum, however the amount paid out decreases over time. These plans are ideal for people who take them out with a repayment mortgage so that the quantity paid out is equal to or greater than the balance on the mortgage. As coverage levels drop over time.

If you would like more information on our life insurance policies, please don’t hesitate to get in touch with our team today.

We are always more than happy to help.

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