Life and Critical Illness Insurance

Why would you consider Protection in the form of Life and Critical Illness Insurance?

Protection is a very general term when used here in respect of insurance would cover Life and critical illness insurance.  There are many reasons why someone would want to consider protection.  Financial Service Solutions are “whole of market” which means we are not tied to any one insurance company.  We have a close relationship with our suppliers and have continuous product training and updates.  As such, we understand what benefits would best suit our clients.

Life Insurance

A life insurance policy provides a lump sum of money if the like assured dies during the term on the policy.  Life Insurance is taken out for a number of reasons, and there are various types of policies. 

When it comes to your life insurance, you’ve got options.  ‘Single life’ policies cover just one person or ‘joint life’ policy covering two people, and when one person on the policy dies the money is paid out and the policy ends.

Term insurance

Term life insurance, you choose sum assured (how much you need to be insured for) and the period for which you need the cover.  If you die within the term the policy pays, if the insured survives to the end of the term, the policy ends and no fund is paid out.  There are two main types of term life insurance to consider – level-term and decreasing-term life.

Critical Illness Insurance

Critical illness insurance, can be a stand alone policy or as part of a life assurance policy, is designed to pay you a tax-free lump sum on the diagnosis or debilitating (but not necessarily fatal) conditions, such as a heart attack, stroke, certain types/stages of cancer. 

It is important to note that insurance companies all vary on the areas of illness they would normally consider to make a payment on.

Life & Critical Illness Insurance