Life Insurance Quotes and Services Wellington | Protection Solutions

Life Insurance

What is Life Insurance?

Life insurance is a lump sum that you will receive in the event of your death or if you get diagnosed with a terminal illness. A terminal illness is generally defined as one which, based on medical evidence, will result in death within 12 months, irrespective of any treatment you receive.

Why Life Insurance?

Insurance is designed to protect your family and other people who may depend on you for financial support. Life insurance pays a death benefit to the beneficiary of the policy.

More Details:

No matter what your current circumstance is, having the correct insurance in place can provide you and your loved ones with peace of mind. If something were to happen to you, your family and/or business it would be taken care of. An insurance policy is there to offer protection for your future and pays a lump sum in the event of your death, accident, illness or injury. Your loved ones can use the money for whatever purpose they choose.

 

Types of Premium Structure:

There are two types of life insurance to choose from:

  • Stepped Cover: The standard insurance product for most providers.
  • Level cover

Stepped insurance premiums will increase over a period of time. Whereas level cover is more expensive to begin but stays the same price in the long term.

How much does it cost?

Your age, health, and pre-existing medical conditions are the factors which will determine how much the premium payments will be. You’re in charge of choosing how often you pay your premium payments to work best for you.

If something happened to you, how would those who rely on you be able to cope? As things now stand, would you be leaving them with debts and an uncertain future?

Not sure how much cover you need? Contact us as we can also help compare policies for you.