Life Insurance is an investment that seeks to provide financial compensation to a beneficiary after the death of the insured person. The beneficiary receives a one-time, tax-free payment when the insured dies, as long as premiums are paid.
Why is Life Insurance very important?
Protection for Your Loved Ones
Our life insurance plans provide a financial safety net for your family, offering peace of mind and ensuring their dreams are protected even if the unexpected happens.
Financial Stability in Times of Need
Life is unpredictable, but your family's financial future doesn't have to be. Our life insurance ensures that your loved ones are supported during difficult times, providing financial stability when they need it most.
There are different types of life insurance packages. It’s not only to protect your family. It can also be part of your financial plan, so you may be able to access money in your policy while you’re alive.
Types of Life Insurance
We have two types of Life Insurance coverage: Term and Permanent. Each has unique features designed to meet different needs.
Term Insurance
• Temporary coverage
• Lower cost
• Fixed payments
• Option to convert to permanent
Permanent Life Insurance
1. Whole life Insurance: Whole life insurance is a type of permanent life insurance that provides you coverage for your entire life. Your premiums won’t change as you get older.
2. Universal Life Insurance: Universal life is a form of permanent life insurance that gives policyholders flexibility in paying premiums, a cash savings component, and a death benefit.
• Lifetime coverage
• Higher cost
• Flexible payments
• Opportunity to build cash value
Frequently Ask Questions
Ideally, you want to make sure your debts are covered, so you don’t leave major expenses behind
for your loved ones.
Here are a few things to consider:
• Your income
• Net worth
• Family needs
• Debt
• Other insurance you have
It depends on the type of coverage you choose. Generally, term insurance is more affordable than
permanent insurance. But there are a lot of factors that determine the cost of your policy,
including:
Age
Generally, insurance is less expensive when you’re younger.
Health
Family history, chronic diseases and lifestyle can increase costs.
Gender
Women live longer than men on average, so insurance may cost less.
Occupation
If you have a dangerous job, your insurance costs can be higher