FAQ’s

To ensure that your mortgage and any other debts are paid off in the event of your death and your loved ones aren’t left in debt and facing homelessness.

The cost of life insurance depends on many factors, including your general health, age, smoking status, family medical history, the amount of cover you require, and the policy term.

If you have health problems, a complicated medical or family medical history you may be asked to take a medical, but in most cases there is no medical required.

This is dependent on the number of dependents you have and their ages plus any mortgage or other debts you may have. A good rule of thumb is that the death benefit on your policy should equate to 7/10 times your annual salary, but there are many factors to take into consideration. This should be discussed with your advisor.

That is entirely up to you. Most people name their loved ones in the policy. Having a will with different beneficiaries won’t take precedent over the beneficiaries named in your policy, so make sure it’s kept up to date.

With any of the major changes in life such as marriage, buying a house or becoming a parent comes increased need for life insurance. When you have dependents (adults or children) you will need to protect them. Taking a term policy at a younger age will be cheaper but make sure it is still viable as your life changes over the years.

Put simply – YES! You can have as many policies and beneficiaries as you like but remember to make sure all premiums are made as you will have paid into policies for no reason and lost a lot of money.

Term life insurance is the most common type of life insurance and is generally the most economic. It is calculated by setting a defined period of time and insuring you for it. The time period involved is the term. Once the pre-agreed period of time is over, your cover expires and your beneficiaries will no longer receive a payout upon your death.