If you or your partner were to pass away, your family and loved ones would have a financial safety net thanks to a life insurance policy from an international life business. The majority of expats who should think about life insurance are those with dependents, families, mortgages, etc.
This will mitigate the effects of losing income and pay for the following expenses:
Home loan payments
Fees for Education – College or University
Costs of Child Care
Housing Costs
Two varieties of life insurance exist:
The simplest way to protect either family breadwinner against passing away is through term insurance. It is renewed annually and offers affordable monthly premiums. When a breadwinner passes away, the beneficiary(s) will receive a lump payment.
Whole-life coverage This offers comparable protection to term assurance but also includes an investing component. As a result, whenever you reach a set age (or pass away too soon), a certain amount of money is due. The monthly premiums are more expensive than those for a term life insurance policy because of the investment component.
It is possible to add coverage for critical illness and total and permanent disability (TPD).
Speaking with our counselor will enable you to determine how much life insurance is necessary for your requirements and situation.
Depending on your age and the sum of the life insurance, the majority of life insurance policies demand a medical exam.
If you should have life insurance, has your policy recently undergone a review or an update?
You can reach out to a personal advisor by clicking here to see our contact page.
