life assurance FAQ

What should I consider when selecting a Life Insurance policy?

Your first consideration should be the level of insurance cover that you need. To do this you need to work out how much money would be needed to pay off all your debts and how much income your dependents would require. When you do this you will have to take into account the affect of inflation and the investment return you can budget on receiving.

Is it possible to have a policy that covers my partner and myself?

Yes, known as 'Joint Life Policies', there are two popular forms of this type of insurance. Firstly, there is a joint life first death policy, which will immediately pay out if either of you were to die whilst insured. Secondly, there is a joint life second death policy, which pays out only if both of you were to die during the period covered by the policy.

Do I need Child Life Insurance?

In certain circumstances, it may be advisable to purchase life insurance on children. A parent or a grandparent may wish to purchase a life insurance policy to ensure that the child has a basic premium.
However, it is not advisable to purchase child life insurance in lieu of insuring the family breadwinner(s). It is essential that the primary breadwinner be fully protected.