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Life Insurance


What is Life Insurance?
Life insurance is a contract policy between an insurance policy owner and the nominated insurance provider. Insurance providers pay a sum of money upon the death of the person thats owns the policy. The insurance policy depends wheather other events such as terminal illness may also trigger the payment. Typically insurance providers include  funeral expenses in the policy premium payments.

Why do I need Life Insurance?
In reality, no one wants to leave their family unprepared financially for the future. Putting some life insurance in place can protect the promise of your family tomorrow. If you have debt or defendants Life cover is really important. Life Cover pays out a lump sum if you die or diagnosis of a terminal illness with less than 12 months to live.

Following are some important points to take up cover with Assetwise:

Replace lost income
Life insurance may be a means to replace income lost if something happens to you. Providing money for survivors (Dependants/Family) is important. Life insurance is the most cost effective way to do so.

Pay off any oustanding debts
Debts can be very dreadful to yourself and family, especially without your any income coming in order to repay it. Life insurance could also be used to pay debt off and help create more financial security for your family.

Offer an emergency fund
Having an emergency fund would cover unexpected bills such as medical expenses, emergency repairs to your home or car. Life insurance provides that benefit that could be used to help your family cope financially in a dreadful time i.e. funeral and finding out one of the family members are critically ill.

Help fund for your children’s education
Private school can be very expensive. Many parent(s) plan to contribute funds each year until they save enough money to pay all or some of their children’s education costs. If something unexpected was to happen to you or your partner, you may not be able to fund your childs education. Life insurance could help by paying a lump-sum of cash that you can count on to help pay part or all of your children’s education costs.

What are the benefits?
You will receive a cash lump sum if you are told you are going to die within 12 months. You can minimise the impact of financial strain on your remaining family should you have Life Cover in place. If you think of your earning potential and the fact often your family has banked on this money coming in and your mortgage being paid, then having enough cover in place can really ease the financial pressure at unexpected devastating times.

When would I need it?

  • You’re married
  • You’re married with kids
  • You’re a single parent
  • You’re a stay-at-home parent
  • You have grown children
  • You’re retired
  • You’re a small business owner
  • You’re single
  • When you have purchased a new house
  • Life cover also pays out on death and on diagnosis of terminal illness with less than 12 months to live.

How do I get it?
To get life insurance or to review your current cover simply just contact Assetwise and they would be at your service.