Secure Your Future, Protect What Matters Most
Life policies may be used to secure a decent income after total retirement. Life policies can also be used as collateral for loans to finance an investment venture.
Retirement Benefits – Life Assurance provides financial security for you and your loved ones by combining long-term savings with life protection. It ensures that you build a retirement fund while safeguarding your family against unforeseen circumstances, giving you peace of mind both now and in the future.
Items to Insure Against / Benefits:
- Guaranteed retirement savings and income
- Life cover in case of untimely death
- Lump sum or annuity options at retirement
- Protection against critical illness or disability (optional riders)
- Tax-efficient savings and investment growth
- Peace of mind for dependents and loved ones
A very economical way for one to make provision for dependants is by way of life assurance. This may be effected in the following ways
- Whole Life Assurance; The sum assured is payable ton the death of the life insured and in no other circumstances. This is the ideal method of providing for dependent relatives.
- Endowment Assurance; This is life assurance for a specified term, usually a minimum of 10 years, during which life cover is operative. At the expiry of the term the assured collects the sum assured plus any bonuses accrued. In this way the life assured can make provision for fir the dependants during the currency of the policy and, should the assured survive, he /she will receive the sum assured plus bonuses at maturity.
- Family Income Policy; The family income policy provides a capital sum assured on death in the usual way but, if the death of life assured occurs within a specified period, say 20 years, a further sum is payable by installments for the remainder of the 20 year period. This policy provides higher cover during the early years when a person´s family is growing up and heavy expenses are incurred.
