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Understanding Life Insurance
Life Cover provides a lump sum payment in the event of death or Terminal Illness. This lump sum can help reduce debt, pay for final expenses, create an investment fund to generate ongoing income or provide an inheritance or donation, amongst other things. The purpose of the funds is entirely yours to decide.
Why Consider Life insurance
Life Cover pays a lump sum of money if you pass away or become terminally ill. Life Cover is designed to help your family pay costs that you would have helped with if you were still alive.
Life insurance offers financial protection to your family during difficult times. It ensures that your loved ones can maintain their lifestyle and meet their financial obligations, even in your absence.
Life insurance can help cover outstanding debts, such as mortgages or personal loans, preventing your family from facing financial burdens during an already challenging time.
Ensure that your children’s educational aspirations are met. A life insurance policy can provide funds for college or other educational expenses, allowing them to pursue their dreams without financial stress.
Knowing that your family is financially secure can provide you with peace of mind, allowing you to focus on what truly matters.
Key Benefits of Life Insurance
• Receive an upfront payment of up to $25,000 to help with immediate expenses like funeral costs.
• If you pass away, we can pay 5% of your Life Cover sum assured (up to $20,000) to assist with the returning of your body back to New Zealand or to your home country.
• Access to an early payment if you’re diagnosed as terminally ill
These benefits amounts differ depending on the provider you choose.
Can your family pay the mortgage without you? Could they take time off work and look after you if you’re terminally ill? What about funeral costs? Life insurance is your way of looking after your loved ones when you’re gone.
This is where we can help you. By completing a need analysis, we will be able to guide you through this process. Amount vary between individuals and depended on a number of factors – Attitude towards risk, savings, debt amount etc.