Life Insurance
What is life Insurance?
"Life Insurance" is used to describe a number of insurance products that protect the financial future and lifestyle of the insured and their family in the unfortunate event of the the insured's death. Depending on the policy type and options chosen, a life insurance product may also provide cover in the event of permanent disability, serious illness, or injury to the insured.
In the event of a claim many life insurance products will make a one-off lump sum payment to the insured or their beneficiaries; this lump sum payment is expected to provide for expenses such as mortgage repayments, medical bills and children's education, some policies may also include a benefit specifically provided to cover the cost of funeral & burial expenses.
Other Life Insurance products, typically Income Protection policies, will pay a replacement income to the insured in the event of a claim, with the payment amounts generally based on a percentage of their previous pre-tax income. These policies may also include a Lump-Sum payment payable in the event of the insured persons death.
Why should I speak with a financial advisor at Coverforce before selecting a product?
Selecting the right product is important for you and your family, but with so many policies on the market and so many options available, it's hard to know what you really need. A Financial Advisor helps by listening to your individual circumstances and recommending the right product and options for you, taking away the uncertainty and ensuring you aren't paying for cover you don't need.
Malcolm Jones - Financial Advisor is an Authorised representative of AAA Financial Intelligence Ltd
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