Life Cover definition Examples of Life Cover in a sentence The complete extinguishment of life cover by a prior serious illness payment would not, however, cause an IHT ensure that this condition is satisfied the Plan must include, from outset, either Protected Life Cover or Protected Life and Serious Illness Cover at a level of 100%. With the “joint life first death” version of the Plan, there is an option at outset to choose that any Life Cover benefits are paid to the spouse that survives by at least 30 days after the first death but with the death benefit being payable to your Beneficiaries in the event that you both die within 30 days of each other. However, despite this “retention”...
Continue reading...
Before taking out life cover, it is important to be absolutely clear on the reasons for putting the cover in place. To achieve its intended purpose in your overall financial plan, life cover must be appropriately quantified and structured in terms of ownership, beneficiary nomination, premium payment, premium patterns and quantum of cover, amongst other things. In this article, we explore a number of factors that should be considered. Life cover can be effectively employed to provide security for your home loan, make capital provision for a family member in the event of your passing, provide for the income needs of your spouse and children, settle unsecured debt in your estate, or provide...
Continue reading...
Product details Choosing Relevant Life Insurance What's available This is a summary of what’s available with Relevant Life Insurance. For full terms and details, please see the policy summary and policy conditions. Life and employee significant illness cover – pays out on death, diagnosis of a terminal illness that meets our definition, or if an employee suffers a covered significant illness that meets our definition and results in their retirement or anticipated retirement. Life cover premiums are guaranteed for the duration of the policy. Premiums for life and employee significant illness cover can be guaranteed or reviewable. They can then choose if they want the cover type to be...
Continue reading...
Life Cover Can anyone get covered? What if I live in the Channel Islands or Isle of Man, can I get cover? Is there a waiting period before a claim can be made on the cover? Am I covered for accidental death immediately? Can more than one person be covered by a Policy? How much cover can I have? How much does it cost? Can I change my cover after the policy has started? Who underwrites this policy? When does my cover start? What is ‘Early Accidental Death’? Is death from natural causes or illness covered immediately? When does my cover end? What does ‘guaranteed acceptance’ mean? How do I make a claim? Do I have to pay tax on my pay-out...
Continue reading...
The lockdown period has given us all time to think about what is important in life. Material things may now be far less important and looking after your family has become the key focus. Many of us may have thought about our own mortality, particularly those of us who are responsible for little ones. Solicitors have been busy with people wanting to make wills. There are new ways of witnessing signatures on car bonnets and through patio doors and windows to ensure that the will is valid. We have seen an increase in the number of enquiries from existing and new clients for Income Protection and Life Cover. It is highlighting that people are thinking how to protect their income in the event of...
Continue reading...
Articles by medical professionals started appearing back in early March, in both the Journal of American Medical Association and Harvard Business Review , detailing how testing in mass numbers across multiple avenues was critical, specifically pointing to the importance and benefits of telemedicine and at-home testing to increase capacity. However, our country’s inability to obtain and distribute these tests has been one of the biggest challenges in containing COVID-19’s spread. But even once we have more testing options, such as patient self-collection at home, the pressing issue of how Americans will pay for them still remains. For even the most efficient labs, current...
Continue reading...
COVID-19: 5,000 frontline health workers to receive life insurance cover - Health workers battling coronavirus will receive life insurance cover according to the FG - Also, the FG said various incentives have been made available to them - According to the FG, this is done as part of its commitment towards the frontline workers The Presidential Task Force (PTF) says 5,000 frontline health workers responding to the Novel Coronavirus (COVID19), pandemic outbreak in the country will receive life insurance cover. Boss Mustapha, the secretary to the government of the Federation and PTF chairman on COVID-19, said this at the PTF daily briefing on COVID19 on Friday in Abuja. Mustapha said N112, 500...
Continue reading...
ONE tailored plan to protect what is important OnePlan Protection provides for your different life insurance needs in one single plan, based on the type of cover you require most. With OnePlan Protection, the beauty is in the simplicity. You will only ever pay for one plan fee, regardless of how many types of cover you choose. This means more options without the extra hassle; one direct debit payment, from one company, in one plan. A range of cover options are available for you and your family. They include: Decreasing Life Cover - a lump sum if you or anyone covered under the plan dies. Your chosen amount of life cover will decrease each year because the amount of replacement income your...
Continue reading...
What is Relevant Life Cover? As an owner of a limited company, a relevant life policy will provide you or your employees with the employee benefit of a cash lump sum paid upon death or diagnosis of a terminal illness to you or the employees family. The policy is paid for by the business, which can mean a number of advantages compared to a normal personal life insurance policy. Most significantly, it can be tax efficient and result in savings of up to 50% on the premiums, depending on your tax band. Relevant Life cover can provide a ‘death in service’ benefit to your staff. Meaning the business can offer a benefit which can help attract and retain employees. This may be of interest if you...
Continue reading...
To claim against your uKheshe benefits please ensure you have the following documents based on your claim type: -Certified copy of death certificate -Certified copy of insured person’s ID -Certified copy of the beneficiary’s ID -Certified copy of death certificate. -Certified copy of insured person’s ID -Certified copy of the beneficiary’s ID -DHA1663 – notification of death register -Claimant/Beneficiary 1 month bank statement -Certified copy of insured person’s ID -Completed medical report form together with copies of any specialist reports and investigations relating to the claim cause We also have the right to ask for additional supporting information from time to time. For example, if...
Continue reading...
