Protecting your loved ones is very important; that’s why it’s best we help you to protect what matters, when it matters! We can source the best products for you to help you make an informed choice. Life Insurance is the most basic form of cover you can buy as it guarantees to pay a certain amount if you die within a certain period. As the cover is in its simplest form, it is generally the cheapest way to buy your cover. Life insurance can protect your family from the financial implications of a personal tragedy and is particularly important if you have young children or dependents. The policies are referred to as Term Insurance, because the cover lasts for a certain term of years. The...
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Life Insurance Loading is the term used to describe the increase in cost of a life insurance policy due to the perceived extra risk involved. A loading may be applied for someone with a pre existing medical condition, a hazardous pastime or a dangerous occupation. How it works When the life insurance company receives your application, they assess the information it contains. On the basis of this, they decide whether they require any further information. For instance, medical details may be obtained from your doctor and a medical examination may be required. With all this information, the insurance company underwriter is then in a position to calculate if there is any increased risk of a...
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A Term life insurance plan is the most basic form of life insurance and is usually the cheapest way to insure your life. It covers you for a fixed period and pays out a one off lump sum if you die during the policy term. With some term insurance policies you can add additional options, for instance critical illness cover. If you do add on critical illness cover, the plan will pay out once on diagnosis of a qualifying critical illness or if you die during the term of the policy. This type of plan is designed for those who want to leave a lump sum in the event of their death within a specified time period whilst keeping the cost to a minimum. Term assurance can protect your family from the...
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There is a common misconception between the terms ‘life assurance’ and ‘life insurance’, with many people thinking they are synonymous. However, there is a distinct difference between the two. Assurance is something with is ‘assured’ to happen; i.e. in this case; your death. Therefore, a life assurance policy pays out ‘when’ you die, not ‘if’ you die. Life assurance policies usually have some investment element to them so that they build in value over time. Because of this, it is usually more expensive than a life insurance policy. Life insurance, on the other hand, is based on something which might happen (again, your death); but during a specific time period. Life insurance policies are...
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We’ve partnered with AIA Australia because we believe in providing the right life insurance cover for the right circumstances. Looking for information on coronavirus (COVID-19)? This information has been prepared without considering your personal objectives, financial situation or needs. Before acting on it, please consider its appropriateness to your circumstances. Refer to the relevant Product Disclosure Statement and Financial Services Guide for full benefit details, terms, conditions and exclusions. Life Insurance policies are issued by The Colonial Mutual Life Assurance Society Limited ABN 12 004 021 809 AFSL 235035 (CMLA). CMLA is a wholly owned but non-guaranteed subsidiary of the...
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In the once quiet and stable life insurance sector, the transformation of business practices and customer expectations is now well underway. In a marketplace where customers expect detailed insight and a highly personalised service, the models and procedures of the past are now severely lacking. By modernising, particularly through digital services, insurers currently have an opportunity to differentiate themselves in a crowded market. According to Deloitte’s 2017 Insurance Outlook report, operators in the life insurance and annuity sector have a significant growth opportunity by making products that are more straightforward and relevant to individuals’ needs. For a product like life...
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Life assurance is an important, although sometimes overlooked, wealth management tool for the expat retirement investor living in Portugal. There are many potential advantages to life assurance products in Portugal, not least the fact that financial assents under contract do not attract capital gains or income taxes provided that no surrender occurs. But what is Life Assurance? Life assurance and life insurance are sometimes used interchangeably, but life assurance is more of a wealth management tool, allowing for beneficial tax treatment and flexible inheritance and legacy planning and more. It is important to understand these factors: whereas life insurance only ever pays out in the event...
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There is an air of cautious optimism in many industries, including the life assurance sector. Tom Browne, CEO, Friends First discusses the road that must be taken to rebuild the life insurance industry and the importance of delivering on trust and transparency. The state of the life insurance and pension sector can be seen to reflect that of the underlying economy. If the economy is doing well, this sector tends to do well and vice versa, with new sales volumes falling by two-thirds between 2007 and 2012. While sentiment is undoubtedly improving substantiated by GDP growth and revenue tax returns, the level of growth in the market is constrained by the continuing impact of austerity...
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GA Life proposes to provide insurance to Employers: In case of death (due to accident or illness) of its Employee whilst in their employment In case of permanent & total disability (due to accident) of its Employee whilst in their employment In case of first positive diagnosis of a critical illness of its Employee whilst in their employment Benefit Details & Cover Amounts Payment on this cover is made on death (due to accident or illness) of an employee whilst in service of the employer Cover is on a 24/7-Worldwide basis whether death happens at or outside work due to illness or accident. Cover amount is normally based as a multiple of an employee’s annual basic salary. The cover...
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Call 0333 344 7365 to speak to an advisor now. A Term life insurance plan is the most basic form of life insurance and is usually the cheapest way to insure your life. It covers you for a fixed period and pays out a one off lump sum if you die during the policy term. There is also the option, usually cheaper, to choose the benefit as an income for your family rather than a lump sum. The income would run for the duration of the policy in the event of a successful claim With some term insurance policies you can add additional options, for instance critical illness cover. If you do add on critical illness cover, the plan will pay out once on diagnosis of a qualifying critical illness or if...
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