Peace of mind and financial security for your family.
What is life insurance?
Simply put, life insurance is a lump sum that is paid out either on a person’s passing or upon diagnosis of a terminal illness that is likely to result in their passing in the next 12 months.
None of us like to think about the end of our days, so having sufficient life insurance in place means that you no longer need to worry that those closest to you will be cared for. Completely crafted to meet your needs and budget, life insurance provides a financial safety net that helps you to ensure your family’s financial goals can still be met – whether that be paying off a mortgage, covering the costs of your children’s schooling or keeping a business running.
Is life insurance for me?
It’s never too early to start thinking about life insurance cover – even though you may feel nowhere near the end of your days! Working alongside your advisor, you can set up something that covers where you’re at now, and then adjust it as you move through life.
Life insurance is worth considering if you have any sort of financial commitments – whether that be a mortgage or a family (or both!) The question to ask yourself is: ‘if I passed away tomorrow, how much money would be needed to take care of things and where would this otherwise come from?’
Who owns my life insurance policy?
This is entirely up to you! The policy owner will be the person that the insured amount is paid out to at claim time. This person could be you, or you could consider a joint policy with your partner which can make it easier for them in the event of your passing.
How do I know how much cover I need?
Under the banner of life insurance policies, there are a suite of products – each with different benefits and to suit different budget levels. Lots of providers have helpful online calculators, but your advisor will be able to help you determine the best fit for you, based on what is most important to you and your family.
What happens if my circumstances change?
Life shifts and changes and the type of cover that suits you at some stages of your life might not see you all the way through. That’s why it pays to review your insurance regularly. Your advisor will gain an understanding of where you are at and can help you determine if the policy you have in place is right for you, or make recommendations as to how you can improve it. That’s why, at Resure, we do yearly reviews to make sure you are on the right track.