Personal Insurance

The Value of Life Insurance

Life insurance is a crucial step in planning for your future and the future of your loved ones. It can fulfill promises made to your family if you are no longer around by providing a death benefit to your beneficiaries in return for premiums paid to the insurance company. In addition, life insurance can also provide benefits while you are living.

Advantages of the Death Benefit

  • Provides income to your beneficiary(s) that can be used to pay expenses, debt, tuition, taxes or virtually any financial need you leave behind.
  • Can provide business security by enabling partners to buy out the interests of a deceased partner and prevent a forced liquidation.
  • Amongst other things safeguard the future of your loved once.

Advantages of Living Benefits

  • The cash value growth of a life insurance policy is tax free, which means you do not pay taxes on the growth of the cash value or the lamp sum at the end of the policy.
  • Loans1 or withdrawals can be taken against the cash value of most types of life insurance policies to help with expenses, such as college tuition or the down payment on a home.
  • Pay for medical expenses as well as supplement for lost income during illness or accident
  • Tax benefits

1 Policy loans and withdrawals reduce cash value and perhaps the death benefit and may be subject to other charges outlined in the contract.

Assessing Your Need

The amount of life insurance as well as the specific insurance plan (together with additional benefits) you select should be dependent on your personal and financial needs and sercumstances. We can assist you in determining an appropriate coverage amount and help you decide on which type of life insurance is right for you along with any additional benefits. 

Generally, you should consider life insurance if you have:

  • A spouse,
  • Dependent children,
  • Aging parents or a physically-challenged relative who depends on you for support,
  • Retirement savings that is not sufficient to ensure your spouse's future financial well-being,
  • A sizable estate,
  • A business,

Life Changes — So Should Your Policy

As events happen in your life, your life insurance coverage may need to change to adapt to your current needs. Some life changes that may require you to reevaluate your coverage include: marriage, divorce, a new baby, purchase of a new home and retirement.

Life Insurance

Too often you are the most overlooked or undervalued asset you possess. If you owned a machine that generated thousands of Euros in income per year, would you buy insurance to protect it against possible damage or loss? And wouldn't you want to insure for direct damages, plus coverage for lost income while the machine was broken or worse yet, if it was destroyed.

Have you ever considered that you are like such a machine? Thanks to your efforts, you and your family have food, shelter and possessions. Life, health and disability insurance provide coverage for your personal wealth-generating machine.

If you are no longer able to provide for your dependents because of death, life insurance is designed to provide assistance for any outstanding debt settlement and ongoing income. If you are unable to work due to sickness or injury, health insurance is designed to cover repair costs, as well as provide an ongoing income during the period you are out of service. And if your injury or illness is more long-term, disability insurance helps supplement your lost income.

If you have not recently reviewed your family's life, health and disability coverage now is the time to do so. Talk to us about your specific needs for life, health, disability and other additional benefits insurance so we can assist you in choosing the coverage that is right for you.

Now let’s take a look at the main types of life insurance you can purchase.

Types of Life Insurance

There are several different types of life insurance products available. The most common include:

Contact us for further details concerning the various plans, options, and quotations.