Wealth Management Education Series. Discover the World of Insurance

Size: px
Start display at page:

Download "Wealth Management Education Series. Discover the World of Insurance"

Transcription

1 Wealth Management Education Series Discover the World of Insurance

2 Wealth Management Education Series Discover the World of Insurance Managing your wealth well is like tending a beautiful formal garden you need to start with good soil and a good set of tools. Just as good soil has the proper fertility to nourish a plant, the right foundation in financial literacy should empower you to cultivate a successful investment and protection portfolio. Discover the World of Insurance is part of our financial education series to help educate you on the fundamentals of investing and financial protection as you tend to your very own financial garden. 1

3 What is Insurance? Insurance can provide you with financial protection. It can help you maintain your lifestyle in the event of serious illness or accident. It can enable your loved ones to pay their expenses if you can no longer provide for them. It can shield you from losses if you experience an unexpected event like a fire or theft. In short, insurance can protect you from the things that worry you most. You can also use insurance to plan for large expenses that you are anticipating later in life such as your children s education or your retirement. Some insurance plans are even designed to help you meet your financial goals. Most insurance plans are basically agreements between you and the insurer. You pay the insurer a fee for assuming your financial risk (premium). If a certain event occurs (insured event), then the insurer pays you an agreed amount of money (sum assured or benefit). 2

4 What is Insurance? How can Insurance help you? We live in an uncertain world in which we must constantly adapt to difficult situations. Medical advances and improved healthcare are helping us live longer. You may find yourself asking: What if I die too soon? How will my family survive with food, medical, education and other living expenses? What if I live a long life? Have I saved enough to live a comfortable life and pay my bills after I retire? What if I have an unexpected problem? How will I cope with the costs and continue my lifestyle if a serious accident causes my expenses to increase? If you have these or other concerns, insurance can help protect you, and the people and things that are dear to you, from financial hardship. Insurance Can Help Dying too soon Living a long life Unexpected problems Traditional Life Insurance Whole of Life Endowment Universal Investment-Linked Life Insurance Term Life Insurance Mortgage Repayment Accidental Death A nn u it y Health Disability Income Protection Total Permanent Disability Critical Illness Trauma Medical Expenses Terminal Illness General Personal Consumer Credit Home Contents Unemployment Motor Vehicle Helper Travel Golf Pet General Commercial Liability Property Employee Benefit Commercial Auto Business Interruption Worker s Compensation 3

5 What is Insurance? A combination of the right insurance plans and features can give you comprehensive coverage that Helps shield you from the financial impact of events such as accidents, critical illnesses or other unfortunate incidents; and Allows you to achieve your financial goals at the same time. Balancing Protection and Investment The chart below shows how common types of insurance can potentially address your concerns and provide investment opportunities. You should consult your financial advisor, who will be able to help you select insurance plans that can best suit your needs and objectives. Key Functions of Different Policies Protection How can insurance address my concerns? Investment Will there be any cash returned to me during or at the end of the policy term? Term Life Provide for your family if you die too soon Life Insurance Traditional Life Investment- Linked Life Provide for your family when you are gone Access to money when no longer working Plan for retirement Provide for children s education The cash surrender value will depend d on the type of policy and tenor Health & Medical General Hurt in an accident Diagnosed with a serious illness Injured abroad Credit card stolen Get into a car accident Fire or theft at home 4

6 Life Insurance I am only looking for protection against life s unexpected events. 5

7 Life Insurance There are different types of life insurance plans. The one that is right for you depends on your needs. Term Life Insurance plans are the most straightforward they payout only when the insured event occurs (ie. death). Traditional Life Insurance plans payout when an insured event occurs (ie. death) but they also include a savings or investment component that allows part of your premium to grow over time and provide you with a return (if any) on your investment. Investment-Linked Plans have a primary objective of maximizing investment returns but they also provide some insurance protection. Life insurance policies may also have add-on plans, which extend your insurance coverage for situations such as serious injury or illness. Some add-on plans are free while others you need to pay for. The section on Health and Medical Insurance discusses common add-on plans and additional policies that can help compliment your life insurance coverage. Some common add-ons are as follows: Mortgage Repayment Insurance Accidental Death Insurance This type of insurance is sometimes included with Term Life Insurance plans. It pays off your mortgage if you pass away so that your mortgage payments do not become a burden on your family. The sum assured for Mortgage Repayment Insurance can decrease each year by a set amount, or in line with the amount that you owe on your mortgage. Accidental Death Insurance is an add-on that may pay your family an increased benefit if your death is caused by an accident covered under the policy. Some plans pay out extra benefits for specific accidents, such as if you die while travelling on public transportation. 6

8 Term Life 1Insurance I want to make sure my family is protected when I am no longer here to do so. 7

9 Term Life Insurance These plans are generally considered in the market to be the most affordable life insurance coverage. If you were to pass away, they protect your family when they would be most vulnerable. The sum assured can stay the same or it can increase by a fixed amount or percentage each year. Such plans do not have an investment component, so you are not exposed to investment returns (or investment losses) if the policy expires before the insured event occurs. Some Term Life Insurance policies allow for all or part of the premium to be returned to you if the insured event does not occur during the term of the policy. Key Benefits Affordability Premiums are lower than Investment-Linked Plans as no investment component is included. Security These plans provide financial assistance when your loved ones (and in some cases you) need it most. Tax These plans may provide certain tax advantages in some countries. Countries differ on the tax insurance benefits. Check with a tax advisor to understand how your insurance plan will be taxed. Points to consider Premiums For Term Life Insurance plans, premiums are generally fixed for the term of the plan. However, for some plans, the premiums may be subject to change. Payment Interval Premiums are usually payable at regular points in the policy term. However, limited pay and single premium plans offer you the option of paying your premiums over a shorter time or making a one-time premium payment. Coverage Period The policy term may be set to a specific number of years or to a certain age. Prerequisites Most life insurance products cannot be bought until the insurer decides you are eligible and agrees to underwrite the risks of the plan as a result of your personal circumstances which may require you to provide medical records or undergo a health check. <see Glossary on page 27 > Insurers might offer a Guaranteed Issue policy without a detailed review process, but they will not cover pre-existing medical conditions. Issuer Risk The insurer must pay out the sum assured or accumulated cash value under the life insurance policy. But, if the insurer faces financial difficulty then they may not make the payments. 8

10 2 Traditional Life Insurance My main objective is to seek protection against unexpected life events. 9

11 Traditional Life Insurance Traditional Life Insurance policies include an investment component, which may allow you to achieve financial objectives while at the same time protecting you. While the premiums for Traditional Life Insurance policies are higher than Term Life Insurance, these plans potentially build up a cash value that you can withdraw or borrow against. Your accumulated cash value (if any) usually depends on how long you hold the policy. However, the exact calculation is set by the terms of the policy you purchase. <see Glossary on page 27 Accumulated cash value > Some common types of Traditional Life Insurance are Whole of Life, Endowment, Universal Life and Annuity policies. Depending on your exact protection and investment objectives, you can pick the type of policy that is right for you. Whole of Life (permanent protection) Endowment (limited time protection) Universal Life Annuity A Whole of Life plan provides cover for your entire life it never runs out. Upon death, the sum assured is paid to your beneficiaries. These policies invest part of your premium, which provides an accumulated cash value (if any) that you can withdraw or borrow against. Like other life insurance plans, an Endowment plan makes a payout to your beneficiaries if you die while covered. However, it also pays the sum assured to you on its maturity date if you are still living. These plans have higher premiums than other Traditional Life Insurance plans, but may be good tools to help you prepare for large future expenses, such as your children s education or retirement. A Universal Life plan generally consists of two components: (i) life insurance and (ii) a cash account. The life insurance portion of a Universal Life plan is actually an annual renewable Term Life Insurance policy (see page 8). The cash account builds up every year and earns a return at either a guaranteed rate or at the current rate, whichever is higher. An Annuity gives you a regular stream of payments or a lump sum payment in the future, usually at your expected retirement age. Please note that such payments are not guaranteed by the insurance provider. You must make regular premium payments or a lump sum payment to your insurer up front. An Annuity is usually offered as part of a Traditional Life Insurance or Investment-Linked Plan. 10

12 Traditional Life Insurance Key Benefits Cost predictability Premiums are generally fixed for the duration of these policies so you will know how much the insurance will cost you each year. However, for some plans the premiums may be subject to change. Tax These plans may provide certain tax advantage in some countries. Legacy planning Beneficiaries receive a payout as long as premiums are paid or there is sufficient value left to keep the policy in force. Access to Cash These policies may build up a cash value, which you may be able to borrow against or withdraw from the policy. Cash value returned If you wish, you can stop paying your policy premiums and receive the cash value (if any) that has been accumulated in the policy. Cash Value put to work You can use the cash value of the policy to transform the policy into a Paid-Up insurance policy, which means that you do not pay any additional premiums but the benefit of the policy is reduced to reflect that. <see Glossary on page 27 Paid-Up insurance > 11

13 Traditional Life Insurance Points to consider Coverage Period Life insurance cover is provided as long as the policy remains active. Whole of Life, Universal Life, and Annuity plans generally cover you until the end of your life. Endowment plans generally provide coverage for a set number of years, such as 10, 15, 20 or 25 years. Customisable Add-on Plans may also be available, giving you useful coverage for other events such as serious illness or injury. (see page 19) Cash Access You may borrow against the cash value (if any) of your policy at the current loan rate. You can also surrender the policy, which means that you no longer pay premiums and the accumulated cash value is returned to you. But note that if you surrender your policy early you will be charged high termination fees, and dividends will generally be less than if the policy remained in force. Issuer Risk The insurer must pay out the sum assured or accumulated cash value under the life insurance policy. But, if the insurer faces financial difficulty then they might not make the payments. Market Risk The value of your investment may drop if the broader stock or bond market goes down. It may also drop in response to common market risk factors, such as stock prices, interest rates, foreign exchange rates, and commodity prices. Sovereign Risk Your investment returns may be affected by the political and economic events in the country where the investment is made. For example, an issuer of a bond investment may be forced to make payments in the local currency of the issuer s country instead of the original currency of the investment. Foreign Exchange Risk Some of your investments may be made in a foreign currency, which can change in value when compared against your home currency. These foreign exchange movements may reduce or wipe out your investment returns. 12

14 3 Life Insurance Investment- Linked Plans My main objective is to seek investment returns but I would also like some protection against unexpected life events. 13

15 Investment-Linked Plans If your motivation for getting life insurance is geared more towards investment, then Investment-Linked Plans (ILP) may be what you are looking for. These policies combine investment and protection, to help you achieve your financial goals while providing cover at the same time. Premiums are used to buy (i) life insurance protection and (ii) investment units in professionally managed investment-linked funds, which may be managed by the insurer or external fund managers. Policies do not provide guaranteed cash values because the value of ILPs depends on the price and performance of the underlying fund units and in some cases, the value could be zero. Fees and expenses for ILPs are paid out of the premium or the sale of purchased units. Key Features of Investment-Linked Plans Policy Features Options Premium Single lump sum premium or Regular premiums Choice of Underlying Investments Insurer s in-house investment funds Third-party investment funds Closed-end investment funds (single premium only) <see Glossary on page 27 Closed-end investment funds > 14

16 Investment-Linked Plans Key Benefits Flexibility ILPs offer you flexibility to:- (i) top-up contributions on a regular basis or whenever you wish; (ii) withdraw from certain funds; or (iii) switch investments among different funds. Regular-premium ILPs also allow you to vary your level of coverage or to pay premiums for short periods. However, charges usually apply if you choose these options. Diversity ILPs let you choose from a range of funds managed by professional fund managers, allowing you to diversify your investments and your risk. Security Once you buy an ILP, your insurance coverage is guaranteed for the duration of the plan, even if your health declines. Points to consider Investment-Linked Plans can help grow your money but they can also expose you to investment risks. In some cases, the value of your Investment-Linked Plan may be zero. Issuer Risk The insurer must pay out the sum assured or accumulated cash value under the life insurance policy. But, if the insurer faces financial difficulty then they might not make the payments. Market Risk The value of your investment may drop if the broader stock or bond market goes down. It may also drop in response to common market risk factors, such as stock prices, interest rates, foreign exchange rates, and commodity prices. Sovereign risk Your investment returns may be affected by the political and economic events in the country where the investment is made. For example, an issuer of a bond investment may be forced to make payments in the local currency of the issuer s country instead of the original currency of the investment. Foreign Exchange Risk Some of your investments may be made in a foreign currency, which can change in value when compared against your home currency. These foreign exchange movements may reduce or wipe out your investment returns. 15

17 Life Insurance Which type of Life Insurance policy is right for me? The chart below summarises the differences between the various types of common life insurance policies. Your financial advisor can help you better understand the specific differences between the plans and recommend a policy that best suits your needs. Comparison of Life Insurance Policies Types of Life Insurance Term Life Whole Life Universal Life Endowment Plan Investment- Linked Plans Death Benefit Flexible Payments Guaranteed Cash Value Depends on the underlying investment Tax Advantages Maturity Value Optional for selected plans Optional for selected plans 16

18 Life Insurance How else do insurance policies differ from each other? Each insurance policy may also offer different features, some of which are described below Common Policy Features and What They Mean Types of Policy Features Non-Participating Whole Life versus Participating Whole Life Explanation Both offer fixed premiums through the policy term. But they differ in their Cash Values: Most Non-Participating plans set a schedule of fixed cash value at the start of the policy which you receive upon policy anniversaries until the maturity date. Participating plans pay you dividends, which means you get a share of the insurer s profits. These dividends may or may not be guaranteed, and can: - offset premiums; - earn interest; - increase insurance coverage; or - be withdrawn as cash. Limited Pay Allows you to pay premiums for a set number of years or up to certain age, while providing cover for the entire policy term. Premiums are generally higher given the shorter period for premium payment. Single Premium Whole of Life plans where you pay the premium in a single lump sum payment with no further payment required. These policies have immediate cash and loan values, which can be significant but may decrease overtime. 17

19 Health and Medical Insurance If I become seriously sick or injured, I want to know that I have financial protection. In their simplest forms, these plans provide cover for a wide range of unforeseen personal events such as a serious illness or accident. It should be noted that some events may be excluded from certain plans. You can purchase these plans on their own or together with life insurance to expand your coverage. Health and Medical Insurance plans do not have an investment component. Some plans do, however, allow for all or part of the premium to be returned to you if you do not make any claims during the policy term. 18

20 Health and Medical Insurance Common Health and Medical Insurance Policies and their Key Features Types of Policies Total & Permanent Disability Disability Income Protection Key Features Pays benefit if you become disabled (e.g. loss of limbs, blindness) or are unable to return to work due to illness or injury. Commonly available as an add-on to other life insurance policies. Pre-existing medical conditions or hazardous occupations may disqualify coverage. Adds to your income if you are unable to work due to a disability from an illness or accident. Benefits are usually paid monthly so that you can maintain your standard of living and continue to pay your expenses. Can be tailored to meet your employment situation. Critical / Trauma Pays benefits if you are diagnosed with a specified major illness or if you suffer a serious injury, such as severe burns or loss of sight or hearing. Available as an add-on to other plans or standalone cover. Premiums tend to be 3-4 times higher than standard Term Life Insurance. Terminal Illness Offered as an add-on to life insurance or Critical Illness Insurance. Allows the policy to pay you the benefit if you have less than 6 or 12 months to live. The benefit is usually capped at a certain amount. Medical Expenses Covers the costs of hospitalisation, surgery, or medical treatment. Limits may apply to the amount of expenses that are reimbursed. The specific features of any plan will be determined by the insurance plan terms and conditions as provided by the insurance provider and such features may not be consistent with the contents of the table above. 19

21 Health and Medical Insurance Key Benefits Diversity There is a wide range of products available that cover serious illness and injury so you can tailor your insurance plans to meet your needs. Affordability Premiums are lower than Traditional Life Insurance because the policy does not usually cover death or include an investment component. Security These plans provide financial assistance when you need it most. They give you a financial safety net when government or employer benefits and personal savings may be inadequate. Tax These plans may provide certain tax advantages in some countries. Countries differ on tax treatment of insurance plans. Check with a tax advisor to understand how your insurance plan will be taxed. Points to consider Cost For regular premium plans, premiums generally (i) increase every year at each policy anniversary; (ii) increase every five years; or (iii) average out over the policy term. Payment Interval Premiums are usually payable at regular points in the policy term. But limited pay plans enable you to pay your premiums over a shorter time. Coverage Period The policy term may be set to a specific number of years or to a certain age. Customisable Many products also allow several types of protection to be combined into one policy and can extend coverage to several people at the same time. Prerequisites Most Health and Medical Insurance plans cannot be bought until the insurer decides you are eligible and agrees to underwrite the risk of a plan as a result of a review of your personal circumstances which may require you to provide medical records or undergo a health check. <see Glossary on page 27> Insurers might offer a Guaranteed Issue policy (usually in relation to accidents only) without a detailed review process, but they will not cover pre-existing medical conditions. 20

22 General Insurance I don t want to worry about being inconvenienced when things go wrong. 21

23 Personal General Insurance 1 Personal General Insurance Personal General Insurance plans protect you against losses arising from various nonlife events, for example, damage, theft, fire, natural disasters, or other emergencies. There is no cash value to be returned at the end of the coverage period. General Insurance plans may be renewed annually at the insurer s discretion. Common Personal General Insurance Plans and their Key Features Types of Policies Key Features Home and Contents Covers your place of residence or home that you lease to someone else. Reimburses cost of repairs and third-party claims for damages due to accidents. Contents insurance covers theft or damage to contents of insured property; usually as an addon to the main policy. Motor Vehicle Covers loss or damage arising from use of your car or other motor vehicle (e.g. injury, property damage, and medical payments) (i) Property insurance covers damage to or theft of car; and (ii) Third-party liability insurance covers you against claims from others. Travel Covers loss incurred during travel (e.g. cancellation, delayed departures, loss of baggage, theft, medical expenses, and accidental death). Available options include:- (i) Single trip or annual policies; and (ii) Personal or family member cover. Certain hazardous locations, activities or medical conditions may disqualify you from coverage (e.g. skydiving or motor racing). 22

24 Personal General Insurance Types of Policies Consumer Credit Insurance (or Payment Protection Insurance) Redundancy/ Unemployment Insurance Key Features Repays loans in the event of death due to accident, disability or job loss. Covers wide variety of consumer loans (e.g. auto loans, credit card debt, and personal loans). Directly pays specified companies that you owe money to (eg. credit card debt or personal loans). Maximum period of payment ranges from months. May also provide regular income during policy period. Coverage depends on terms of the policy. Golf Insurance Covers accidental loss or damage to golf equipment and personal effects while golfing. May even cover entertainment expenses following a hole-in-one. Domestic Helper Insurance Provides comprehensive coverage for a domestic helper employed in your home. Protects against legal liabilities should helper or third party suffer injuries in the course of his or her work. Pet Insurance Covers veterinary costs when your pet is ill or injured. Some policies also include benefits in event of pet s theft or death. The specific features of any plan will be determined by the insurance plan terms and conditions as provided by the insurance provider and such features may not be consistent with the contents of the table above. 23

25 Commercial General Insurance 2 Commercial General Insurance Just like individuals, businesses need to protect themselves against risks or they could face serious financial problems. Commercial General Insurance plans protect businesses from many different types of risks. For example, malpractice or product liability plans protect your business from lawsuits. Business interruption and property insurance can cover losses from fire, flooding, or other natural disasters. General Insurance plans may be renewed annually, at the insurer s discretion. I rely on the smooth running of my business to serve my customers and support my employees. I want to keep it safe from certain events. Common Commercial General Insurance Plans and their Key Features Types of Policies Key Features General Liability Covers your business for personal injuries or property damage that you cause other people or businesses (e.g. a customer getting injured in your store). Includes the cost of defending and resolving those lawsuits. Errors and Omissions Liability ( E&O ) Malpractice or Professional Liability Covers mistakes that cause injury to other people or businesses. (e.g. damages from an insurance agent forgetting to file a policy application or a notary filling out a notarization incorrectly). Available for doctors, dentists, accountants, real estate agents, architects, and other professionals. Covers losses if a professional causes injury by acting in a way other members of his profession would not (e.g. a doctor making a mistake that other doctors in his specialty would not have made). Pays the professional s defence costs and any judgment or settlement. 24

26 Commercial General Insurance Types of Policies Directors and Officers Liability Insurance Key Features Bought by corporations and non-profit organisations to cover the costs of lawsuits against their directors and officers. Property Pays for losses and damage to real or personal property (e.g. fire damage in your office). You can insure your: Office including furniture, contents and fixtures; Commercial property building; Equipment (e.g. computers and machinery); and Cargo/ Inventory (e.g. items shipped by air, sea or land). Commercial Auto Covers the cars, vans, trucks and trailers used in your business. Pays if your vehicles are damaged or stolen or if the driver injures a person or property. Worker s Compensation Covers you for your employee s on-the-job injuries. In some countries, businesses with employees are required to carry some type of workers compensation insurance. Business Interruption Covers the cash flow and profit that is affected by an interruption to your business. For example, if key manufacturing machinery is damaged by floods, the income that is lost due to the two-month interruption to the production schedule may be covered. Employee Benefit Covers health, dental, disability expenses, and life insurance for employees and the company s directors or owners. The specific features of any plan will be determined by the insurance plan terms and conditions as provided by the insurance provider and such features may not be consistent with the contents of the table above. 25

27 General Insurance Key Benefits Financial security and peace of mind These policies provide financial protection against unexpected events so you can continue to live your life and run your business with limited consequences. Affordability Premiums are generally more affordable as there is no investment component. Tax These plans may provide certain tax advantages in some countries. Broad range of coverage Despite their lower premiums, these policies may still provide a significant amount of cover, especially for third-party liability claims. Security These policies may function as a financial safety net, allowing you to potentially avoid out-of-pocket costs. Customisable Many products allow several types of protection to be combined into one policy. Countries differ on tax treatment of insurance plans. Check with a tax advisor to understand how your insurance plan will be taxed. Points to consider Payment Intervals Premiums are typically paid once a year. They may increase on renewal or be raised by the insurer if you make a large number of claims. If you do not make any claims in the preceding year, then you may receive a no claims discount. Coverage Period Policy terms usually last one year. Prerequisites Underwriting <see Glossary on page 27> is usually required and the insurer will assess your eligibility for cover based on potential risk factors. No Cash Value These policies do not carry a cash value. 26

28 Glossary of Insurance Terms Benefit Accumulated cash value Claim Closed-end funds Payout from the plan if the event that you have insured against occurs. This is also known as sum assured. Some insurance policies have an accumulated cash value. This is the balance that is left in your insurance policy after policy related expenses are paid and interest is calculated. You may borrow against the accumulated cash value (if any) without affecting your insurance coverage. If you cancel the policy, you may take out the accumulated cash value (if any), although you may need to pay penalties. Request for the insurer to pay out the sum assured as agreed in the policy. These investment funds issue only a fixed number of shares, and do not issue new shares even if investor demand grows. Share purchases take place in the secondary market and prices are determined by investor demand. Shares of these funds are often traded at a premium or discount compared to the fund s net asset value. Further, such funds usually do not allow investors to redeem prior to a stated maturity date. Deductible/Excess First portion of claim amount that the insured must pay. The insurer will pay out the remainder up to the claim limit. Dividends/ Bonuses Paid-Up insurance Policy Policy term Premium Add-on Underwriting Some plans, such as Traditional Life Insurance plans offer an annual bonus payment that may be withdrawn at your discretion. Dividends and bonuses usually take time to become available and if cashed early they may not be worth their full value. This feature is only available for Whole of Life plans. When you have accumulated enough cash value from your premium payments, you can stop paying your premiums for a time and keep your life insurance coverage. Another name for your insurance plan. Length of time the insurance plan is in effect. Fee that you pay to the insurer. Premiums may be regular or oneoff. Add-on plans (sometimes known as riders) extend the cover of your insurance plan. Some add-on plans are available free-of-charge and are a good way to help you gain more protection. Way to determine the eligibility of the person to be insured. Commonly determined through health check ups, personal background checks, and previous claims history. 27

Wealth Management Education Series. Explore the Field of Mutual Funds

Wealth Management Education Series. Explore the Field of Mutual Funds Wealth Management Education Series Explore the Field of Mutual Funds Wealth Management Education Series Explore the Field of Mutual Funds Managing your wealth well is like tending a beautiful formal garden

More information

Explore the Field of Mutual Funds

Explore the Field of Mutual Funds Wealth Management Education Series How can we help you further? Do you have a question on what you have just read? Would you like to have a further discussion on this subject? Contact your Relationship

More information

Wealth Management Education Series. Explore the Field of Investment Funds

Wealth Management Education Series. Explore the Field of Investment Funds Wealth Management Education Series Explore the Field of Investment Funds Wealth Management Education Series Explore the Field of Investment Funds Managing your wealth well is like tending a beautiful formal

More information

Wealth Management Education Series. Cultivate an Understanding of Bonds

Wealth Management Education Series. Cultivate an Understanding of Bonds Wealth Management Education Series Cultivate an Understanding of Bonds Wealth Management Education Series Cultivate an Understanding of Bonds Managing your wealth well is like tending a beautiful formal

More information

We give you invaluable peace of mind at an affordable price. The Power of We. Essential protection for you and your loved ones AIA.COM.

We give you invaluable peace of mind at an affordable price. The Power of We. Essential protection for you and your loved ones AIA.COM. PROTECTION AIA SECURE TERM We give you invaluable peace of mind at an affordable price Essential protection for you and your loved ones The Power of We AIA.COM.SG 2 Only 38% of Singaporeans could cope

More information

MAKE FINANCIAL FITNESS HAPPEN

MAKE FINANCIAL FITNESS HAPPEN MAKE FINANCIAL FITNESS HAPPEN 3 UNIT 6 INTRODUCTION TO NEDBANK INSURANCE AND ASSURANCE PRODUCTS At the end of this unit, you will: understand the difference between insurance and assurance; and understand

More information

The Insurance Handbook

The Insurance Handbook The Insurance Handbook CONTENTS 1 TYPES OF INSURANCE PLANS STAKEHOLDERS/PARTIES TO THE CONTRACT POLICY FEATURES UNIT-LINKED AND INVESTMENT SPECIFIC 2 3 POLICY BENEFITS 8 5 OTHER INSURANCE SPECIFIC 10 TYPES

More information

Deciphering Life Insurance Options: How Choosing the Right Policy Can Help Safeguard Your Earning Potential and Savings

Deciphering Life Insurance Options: How Choosing the Right Policy Can Help Safeguard Your Earning Potential and Savings How Choosing the Right Policy Can Help Safeguard Your Earning Potential and Savings 1 Many people think of life insurance as something they ll need when they get a bit older and want to ensure their loved

More information

EarlyIncome Annuity Plan

EarlyIncome Annuity Plan EarlyIncome Annuity Plan HSBC Life (International) Limited HSBC Life (International) Limited ( the Company ) is incorporated in Bermuda with limited liability, and is one of the HSBC Group s insurance

More information

INSURANCE DICTIONARY

INSURANCE DICTIONARY INSURANCE DICTIONARY Actuary An actuary is a professional who uses statistical data to assess risk and calculate dividends, financial reserves, and insurance premiums for a business or insurer. Agent An

More information

universal life wealth planner

universal life wealth planner universal life wealth planner 1 3 4 5 6 7 9 10 Your success and prestigious status can be demonstrated not only by possessing great fortune but also by wisely protecting, growing and passing on your

More information

Registered office 6 Front Street, Hamilton HM11, Bermuda. Hong Kong SAR office 18 / F, Tower 1, HSBC Centre, 1 Sham Mong Road, Kowloon, Hong Kong

Registered office 6 Front Street, Hamilton HM11, Bermuda. Hong Kong SAR office 18 / F, Tower 1, HSBC Centre, 1 Sham Mong Road, Kowloon, Hong Kong HSBC Life (International) Limited HSBC Life (International) Limited ( the Company ) is incorporated in Bermuda with limited liability, and is one of the HSBC Group s insurance underwriting subsidiaries.

More information

Understanding Insurance

Understanding Insurance Version 4.0 Preparation Date: 2 November 2009 This document provides some additional information to help you understand the financial planning concepts discussed in the SOA in relation to insurance. Important

More information

Lifestyle Protection Insurance. Cover for your financial commitments and expenses in the event of the unexpected.

Lifestyle Protection Insurance. Cover for your financial commitments and expenses in the event of the unexpected. Lifestyle Protection Insurance Cover for your financial commitments and expenses in the event of the unexpected. About Lifestyle Protection Insurance Life doesn t always go according to plan. Redundancy,

More information

You must always read the fine print of the contract and understand the limits or exclusion clauses.

You must always read the fine print of the contract and understand the limits or exclusion clauses. Life insurance Introduction This is an introductory guide to help you understand how life insurance works. It gives you basic information so that you can make an informed decision when purchasing life

More information

Discover What s Possible

Discover What s Possible Discover What s Possible Guaranteed Choice SM Whole Life Guaranteed Choice SM Whole Life for Individuals and Families There is comfort in predictability There s a certain comfort that comes with knowing

More information

Protecting your family with insurance: How RBC Royal Bank can help

Protecting your family with insurance: How RBC Royal Bank can help Insurance Protecting your family with insurance: How RBC Royal Bank can help At RBC Royal Bank, we know that you ve worked hard to get here and build a new life. Insurance helps protect what you have from

More information

Have you ensured the security of your family s future?

Have you ensured the security of your family s future? PROTECTION AIA SECURE TERM PLUS Have you ensured the security of your family s future? Protect them confidently with a plan that offers high protection at a low premium AIA.COM.SG While 6 in 10 Singaporeans

More information

You must always read the fine print of the contract and understand the limits or exclusion clauses.

You must always read the fine print of the contract and understand the limits or exclusion clauses. Introduction This is an introductory guide to help you understand how life insurance works.it gives you basic information so that you can make an informed decision when purchasing life insurance policy.

More information

Accident Insurance: Financial Protection Doesn t Happen by Accident

Accident Insurance: Financial Protection Doesn t Happen by Accident Life & Health Insurance Advisor MRCT Benefits Plus is a comprehensive employee benefits, wellness and Human Resources consulting firm offering a variety of financial services to businesses and individuals

More information

WEALTH MANAGEMENT Your wealth, your family, your enduring legacy

WEALTH MANAGEMENT Your wealth, your family, your enduring legacy WEALTH MANAGEMENT AIA Platinum Legacy Series Your wealth, your family, your enduring legacy Reward the next generation with the gift of lasting wealth AIA.COM.SG Create a legacy that is strong, stable

More information

Understanding insurance Version 5.0

Understanding insurance Version 5.0 Understanding insurance Version 5.0 This document provides some additional information to help you understand the financial planning concepts discussed in the SOA in relation to insurance. This document

More information

Understanding insurance

Understanding insurance Version 4.2 This document provides some additional information to help you understand the financial planning concepts discussed in the SOA in relation to. Important information This document has been published

More information

Now is the right time to take control of your future. An Informative Brochure by Standard Life and Accident Insurance Company PB-PORT02R07

Now is the right time to take control of your future. An Informative Brochure by Standard Life and Accident Insurance Company PB-PORT02R07 Now is the right time to take control of your future. An Informative Brochure by Standard Life and Accident Insurance Company PB-PORT02R07 Plan Well, Live Well, Retire Well Standard Life and Accident Insurance

More information

We give your savings the greater rewards

We give your savings the greater rewards AIA SMARTREWARDS SAVER (II) SAVINGS / PROTECTION We give your savings the greater rewards Earn guaranteed regular coupons while saving towards your life goals. aia.com.sg AIA SMARTREWARDS SAVER (II) 2

More information

Zurich Insurance Middle East S.A.L. Commercial Insurance to protect your business

Zurich Insurance Middle East S.A.L. Commercial Insurance to protect your business Zurich Insurance Middle East S.A.L Commercial Insurance to protect your business 2 Each business is unique and understanding your needs is at the heart of what we do. We appreciate that one size doesn

More information

BUSINESS INSURANCE FAQ

BUSINESS INSURANCE FAQ BUSINESS INSURANCE FAQ Q: What is Business Insurance? A: We strive to understand your risk tolerance and financial ability to withstand the spectrum of potential losses and develop insurance programs to

More information

Personal insurance. What is insurance? What is personal insurance? Life insurance. Fact sheet

Personal insurance. What is insurance? What is personal insurance? Life insurance. Fact sheet Fact sheet Personal insurance Current as at 15 April 2012 What is insurance? Insurance is an agreement with an insurance company to pay you a sum of money if something is damaged or lost. It is form of

More information

plain talk about life insurance

plain talk about life insurance plain talk about life insurance The right life insurance can have an enormous effect on your life and the lives of those you love. It can mean the difference between leaving your loved ones well positioned

More information

insurance Insurance Protecting what s important to you Inside... What insurance do you need? Types of insurance Buying insurance

insurance Insurance Protecting what s important to you Inside... What insurance do you need? Types of insurance Buying insurance insurance Insurance Protecting what s important to you Inside... What insurance do you need? Types of insurance Buying insurance What insurance do you need? Insurance is a way to protect you (and your

More information

KEY FACTS 2015. UK Insurance & Long Term Savings. Key Facts 2015. Follow us on Twitter @BritishInsurers

KEY FACTS 2015. UK Insurance & Long Term Savings. Key Facts 2015. Follow us on Twitter @BritishInsurers KEY FACTS 2015 UK Insurance & Long Term Savings Key Facts 2015 @BritishInsurers Follow us on Twitter @BritishInsurers ASSOCIATION OF BRITISH INSURERS The UK insurance and long term savings industry is

More information

Discover What s Possible

Discover What s Possible Discover What s Possible Guaranteed Choice SM Whole Life for Business Guaranteed Choice SM for Business Owners Whole Life There is comfort in predictability There s a certain comfort that comes with knowing

More information

Build a better foundation for your family s future

Build a better foundation for your family s future PROTECTION / SAVINGS AIA LIFE PLUS (II) Build a better foundation for your family s future A long-term savings and protection plan. aia.com.sg 01 PROTECTION / SAVINGS AIA LIFE PLUS (II) Your lifetime companion

More information

YOU CAN OWN? WHY RENT WHEN

YOU CAN OWN? WHY RENT WHEN WHY RENT WHEN YOU CAN OWN? A COMPARISON OF TERM & PERMANENT LIFE INSURANCE This guide helps you understand the differences between term and permanent coverage by comparing them to renting versus owning

More information

Income Goal Insurance Plan

Income Goal Insurance Plan Income Goal Insurance Plan HSBC Life (International) Limited HSBC Life (International) Limited ( the Company ) is incorporated in Bermuda with limited liability, and is one of the HSBC Group s insurance

More information

An introduction to Dentists Provident and income protection

An introduction to Dentists Provident and income protection An introduction to Dentists Provident and income protection An introduction to Dentists Provident and income protection We are the market leading provider of income protection insurance to dentists, and

More information

LIFE INSURANCE. and INVESTMENT

LIFE INSURANCE. and INVESTMENT INVESTMENT SAVINGS & INSURANCE ASSOCIATION OF NZ INC GLOSSARY OF LIFE INSURANCE and INVESTMENT TERMS 2 Accident Benefit A benefit payable should death occur as the result of an accident. It may be a stand-alone

More information

AIA Wealth Management Survey 2015 Findings and Launch of New Bonus Power Plan to Help Customers Achieve Long-term Wealth Growth

AIA Wealth Management Survey 2015 Findings and Launch of New Bonus Power Plan to Help Customers Achieve Long-term Wealth Growth AIA Hong Kong AIA Hong Kong Tower, 734 King s Road, Quarry Bay, Hong Kong T: (852) 2881 3333 AIA.COM.HK Media Release AIA Wealth Management Survey 2015 Findings and Launch of New Bonus Power Plan to Help

More information

Build a lasting legacy that can benefit three generations

Build a lasting legacy that can benefit three generations AIA Gen3 (II) PROTECTION / SAVINGS Build a lasting legacy that can benefit three generations Guaranteed annual coupons plus long term growth potential. aia.com.sg AIA Gen3 (II) 2 Financial benefits for

More information

Goal Access Universal Life Plan (Protection)

Goal Access Universal Life Plan (Protection) Goal Access Universal Life Plan (Protection) HSBC Life (International) Limited HSBC Life (International) Limited ( the Company ) is incorporated in Bermuda with limited liability, and is one of the HSBC

More information

Your Mortgage Guide. The Exchange. Property Services Mortgage Services Letting & Management Services Conveyancing Services

Your Mortgage Guide. The Exchange. Property Services Mortgage Services Letting & Management Services Conveyancing Services The Exchange Property Services Mortgage Services Letting & Management Services Conveyancing Services Your Mortgage Guide Contents: Introduction... 3 The Financial Services Authority (FCA)... 3 What is

More information

Maintain your lifestyle even when the unexpected happens

Maintain your lifestyle even when the unexpected happens AIA SECURE CRITICAL COVER PROTECTION Maintain your lifestyle even when the unexpected happens Lessen your financial burden with affordable Critical Illness coverage. aia.com.sg Cancer is the No.1 killer

More information

RetireIncome Annuity Plan

RetireIncome Annuity Plan RetireIncome Annuity Plan HSBC Life (International) Limited HSBC Life (International) Limited ( the Company ) is incorporated in Bermuda with limited liability, and is one of the HSBC Group s insurance

More information

The Consumer s Guide to LIFE and HEALTH INSURANCE - 1 -

The Consumer s Guide to LIFE and HEALTH INSURANCE - 1 - - 1 - The Consumer s Guide to Life and Health Insurance If you re young and in good health, you probably have never thought much about life insurance. But have you ever considered what financial obligations

More information

ANZ Mortgage Protection. Because your mortgage payments don t stop if your income does.

ANZ Mortgage Protection. Because your mortgage payments don t stop if your income does. ANZ Mortgage Protection Because your mortgage payments don t stop if your income does. What if you couldn t pay your home loan? We insure our cars, our homes and other assets but what about our ability

More information

ProVider Plus Individual Disability Income Insurance

ProVider Plus Individual Disability Income Insurance ProVider Plus Individual Disability Income Insurance Keeping income strong Table of Contents Your income is your most valuable asset. Protect it!...........1 Disability Could it happen to you?........................2

More information

Includes Tips & Tricks that could save you substantial $$$ and help make sure your claims get paid.

Includes Tips & Tricks that could save you substantial $$$ and help make sure your claims get paid. Includes Tips & Tricks that could save you substantial $$$ and help make sure your claims get paid. WHAT IS INSURANCE? It s simply the transference of a risk from yourself to the Insurer. By paying the

More information

WHAT YOU SHOULD KNOW. About Buying Life Insurance. Life insurance is financial protection. It provides the

WHAT YOU SHOULD KNOW. About Buying Life Insurance. Life insurance is financial protection. It provides the Life insurance is financial protection. It provides the resources your family may need to pay immediate and continuing expenses after you die. WHAT YOU SHOULD KNOW About Buying Life Insurance There are

More information

Do you see yourself working forever?

Do you see yourself working forever? RETIREMENT AIA RETIREMENT SAVER (II) Do you see yourself working forever? Take charge with AIA Retirement Saver (II) today, so you can face retirement with more assurance tomorrow. aia.com.sg 01 RETIREMENT

More information

Insurance and diabetes

Insurance and diabetes Reviewed January 2010 Insurance and diabetes Buying the right insurance policy can give you financial protection and peace of mind if the unexpected happens. Unfortunately, having diabetes can affect both

More information

Understanding Insurance

Understanding Insurance Understanding Insurance Preparation Date: 26 November 2007 How to read this document Managing your finances to meet your day to day requirements as well as your long-term goals can be a complex task. There

More information

Discover What s Possible

Discover What s Possible Discover What s Possible Guaranteed Choice Whole Life Guaranteed Choice Whole Life for Individuals and Families PM6373 There is comfort in predictability There s a certain comfort that comes with knowing

More information

Protecting your lifestyle and your wealth

Protecting your lifestyle and your wealth Protecting your lifestyle and your wealth Life assurance Critical illness cover Income protection Key person and partnership protection Over 30 years experience providing independent pension advice to

More information

CHAPTER 5 LIFE INSURANCE POLICY OPTIONS AND RIDERS

CHAPTER 5 LIFE INSURANCE POLICY OPTIONS AND RIDERS CHAPTER 5 LIFE INSURANCE POLICY OPTIONS AND RIDERS There are a number of policy options and riders that the purchasers of insurance need to understand. Obviously, life and disability agents need to have

More information

Unlocking the value of whole life

Unlocking the value of whole life An Educational Guide for Individuals Unlocking the value of whole life Whole life insurance as a financial asset Insurance Strategies Contents 3 Whole life insurance: A versatile financial asset 4 Providing

More information

Protection and security for the most important people in your life

Protection and security for the most important people in your life PROTECTION AIA SECURE TERM PLUS (II) Protection and security for the most important people in your life Your family s security is more affordable than you imagined. aia.com.sg 01 PROTECTION AIA SECURE

More information

Your guide to Great-West Life Participating life insurance

Your guide to Great-West Life Participating life insurance Your guide to Great-West Life Participating life insurance This guide provides a high-level overview of key features of Great-West Life participating life insurance. After you review this guide, talk with

More information

Your guide to Canada Life s participating life insurance. Estate Achiever Wealth Achiever

Your guide to Canada Life s participating life insurance. Estate Achiever Wealth Achiever Your guide to Canada Life s participating life insurance Estate Achiever Wealth Achiever This guide provides an overview of key features of participating life insurance products offered by Canada Life.

More information

plaintalk about life insurance

plaintalk about life insurance plaintalk about life insurance The right life insurance protection can have an enormous effect on your life and the lives of those you love. It can mean the difference between leaving your loved ones well

More information

Retirement Insurance. PRUmyretirement RMB annuity income plan

Retirement Insurance. PRUmyretirement RMB annuity income plan Retirement Insurance PRUmyretirement RMB annuity income plan Important notes This product is a life insurance plan and is not a bank deposit. It is underwritten by Prudential Hong Kong Limited (A member

More information

Flexible. Dependable. Guaranteed.

Flexible. Dependable. Guaranteed. Secure Whole Life Insurance At-a-glance A permanent policy with dividend options Flexible. Dependable. Guaranteed. A secure choice for your financial future Guarantees are based on the claims-paying ability

More information

KEY GUIDE Financial protection for you and your family

KEY GUIDE Financial protection for you and your family Kelvin Financial Planning Ltd KEY GUIDE Financial protection for you and your family Introduction Most of us believe that taking out life and other forms of protection insurance is a good thing to do.

More information

Insurance. Covered, just in case. - How much cover do we need? - Buying insurance - Types of insurance - Where to go for help

Insurance. Covered, just in case. - How much cover do we need? - Buying insurance - Types of insurance - Where to go for help Insurance Covered, just in case - How much cover do we need? - Buying insurance - Types of insurance - Where to go for help Sorted by the Commission for Financial Capability How much cover do we need?

More information

Both types of policies can accumulate substantial savings. The earlier you start, the more you could earn from the policy by the time you retire.

Both types of policies can accumulate substantial savings. The earlier you start, the more you could earn from the policy by the time you retire. Frequently Asked Questions on Insurance products General Enquiries 1. Why bother with insurance? Life insurance gives you and your family financial protection against the financial loss that can happen

More information

A few tips to ensure that you claim correctly and receive your money as quickly as possible:

A few tips to ensure that you claim correctly and receive your money as quickly as possible: Car Insurance How can I keep my car insurance costs low? The first thing to do is bargain shop to make sure that the rates you are getting are reasonable in comparison to other companies. Within the policy

More information

A personal accident plan with the flexibility to suit any lifestyle

A personal accident plan with the flexibility to suit any lifestyle PROTECTION AIA SOLITAIRE PERSONAL ACCIDENT A personal accident plan with the flexibility to suit any lifestyle With a choice of optional benefits, you can have tailored protection for your family aia.com.sg

More information

What You Should Know About Buying. Life Insurance

What You Should Know About Buying. Life Insurance What You Should Know About Buying Life Insurance Life insurance is the foundation of financial security for you and your family. It protects your financial resources against the uncertainties of life so

More information

Life Insurance Tutorial & Calculation Worksheet

Life Insurance Tutorial & Calculation Worksheet Life Insurance Tutorial & Calculation Worksheet Provided By NAVY MUTUAL AID ASSOCIATION Henderson Hall, 29 Carpenter Road, Arlington, VA 22212 Telephone 800-628-6011-703-614-1638 - FAX 703-945-1441 E-mail:

More information

What You should Know. About Buying Life Insurance. Life insurance protects your financial future. It provides

What You should Know. About Buying Life Insurance. Life insurance protects your financial future. It provides Life insurance protects your financial future. It provides the resources your family or business may need to pay immediate and continuing expenses when you die. What You should Know About Buying Life Insurance

More information

PLAIN TALK about LIFE INSURANCE

PLAIN TALK about LIFE INSURANCE PLAIN TALK about LIFE INSURANCE Having the right life insurance protection can have an enormous effect on your life and the lives of those you love. A proper financial security plan can mean the difference

More information

Get fresh protection with cash for hospital stays

Get fresh protection with cash for hospital stays PROTECTION AIA PINK OF HEALTH Get fresh protection with cash for hospital stays AIA Pink of Health complements your basic medical insurance plan aia.com.sg 01 PROTECTION AIA PINK OF HEALTH AIA PINK OF

More information

Life Insurance. Nationwide and the Nationwide Frame are federally registered service marks of Nationwide Mutual Insurance Company.

Life Insurance. Nationwide and the Nationwide Frame are federally registered service marks of Nationwide Mutual Insurance Company. Life Insurance Nationwide and the Nationwide Frame are federally registered service marks of Nationwide Mutual Insurance Company. Facilitator s Guide Life Insurance Overview: If you ask people to name

More information

Hospitalisation and surgical insurance provides for hospitalisation and surgical expenses incurred due to illnesses covered under the policy.

Hospitalisation and surgical insurance provides for hospitalisation and surgical expenses incurred due to illnesses covered under the policy. Medical & Health insurance Introduction This is an introductory guide designed to provide you with a basic understanding of medical and health insurance (MHI). It gives you basic information so that you

More information

Life and protection insurance explained

Life and protection insurance explained protection? Life and protection explained A guide to personal and family protection This guide explains the types of life and protection available and how they can offer you valuable peace of mind. If

More information

Insurance. Understanding Insurance Basics

Insurance. Understanding Insurance Basics Insurance Understanding Insurance Basics About FCAC With educational materials and interactive tools, the Financial Consumer Agency of Canada (FCAC) provides objective information about financial products

More information

UK INSURANCE KEY FACTS 2014. UK Insurance KEY FACTS. Follow us on Twitter @BritishInsurers

UK INSURANCE KEY FACTS 2014. UK Insurance KEY FACTS. Follow us on Twitter @BritishInsurers UK INSURANCE KEY FACTS 2014 UK Insurance KEY FACTS 2014 3 @BritishInsurers Follow us on Twitter @BritishInsurers ASSOCIATION OF BRITISH INSURERS About the ABI The Association of British Insurers is the

More information

TYPES OF LIFE INSURANCE LIFE INSURANCE POLICY CHARACTERISTICS

TYPES OF LIFE INSURANCE LIFE INSURANCE POLICY CHARACTERISTICS TYPES OF LIFE INSURANCE Group Individual Ordinary Industrial Permanent Term One master policy Policy owned by organization and represents the group and sponsors the coverage Individuals insured are not

More information

Financial protection for you and your family

Financial protection for you and your family Financial protection for you and your family Introduction Most of us believe life and other forms of protection insurance is a good thing. Protecting your family should underpin financial planning and

More information

KEY GUIDE. Financial protection for you and your family

KEY GUIDE. Financial protection for you and your family KEY GUIDE Financial protection for you and your family Introduction Most of us believe that taking out life and other forms of protection insurance is a good thing to do. Protecting your family should

More information

PROTECTION AIA PREMIER DISABILITY COVER. Have you got a substitute income earner? If not, protect your income when you are unable to work AIA.COM.

PROTECTION AIA PREMIER DISABILITY COVER. Have you got a substitute income earner? If not, protect your income when you are unable to work AIA.COM. PROTECTION AIA PREMIER DISABILITY COVER Have you got a substitute income earner? If not, protect your income when you are unable to work AIA.COM.SG Stroke is the top cause of disability* More than 60 %

More information

INSURANCE AND DIABETES TRAVEL INSURANCE. What is the best way to buy travel insurance? Things to remember

INSURANCE AND DIABETES TRAVEL INSURANCE. What is the best way to buy travel insurance? Things to remember INSURANCE AND DIABETES People living with diabetes can encounter difficulties arranging insurance. Although diabetes can be treated, people with diabetes are more likely to develop medical complications,

More information

Build a lasting legacy that can benefit three generations

Build a lasting legacy that can benefit three generations PROTECTION / SAVINGS AIA GEN3 (II) Build a lasting legacy that can benefit three generations Guaranteed annual coupons plus long term growth potential. aia.com.sg 01 PROTECTION / SAVINGS AIA GEN3 (II)

More information

For those who prefer choice over chance

For those who prefer choice over chance Destiny insurance For those who prefer choice over chance Make the decisions that will control your destiny Destiny * insurance is universal life insurance that provides a broad spectrum of choices to

More information

Because you should retire from work, not life. Retirement plans. By HSBC.

Because you should retire from work, not life. Retirement plans. By HSBC. Because you should retire from work, not life. Retirement plans. By HSBC. A new beginning Retirement will be a significant new chapter in your life. A new beginning that will bring new opportunities, new

More information

Destiny. a guide for clients

Destiny. a guide for clients Destiny a guide for clients 1 For those who prefer choice over chance Destiny is universal life insurance that provides a broad spectrum of choices to protect your life, your investments, and your business.

More information

PROTECTION MORTGAGE. Live your life, while we protect your mortgage. Looking after your home and family.

PROTECTION MORTGAGE. Live your life, while we protect your mortgage. Looking after your home and family. PROTECTION MORTGAGE Live your life, while we protect your mortgage Looking after your home and family. Mortgage Cover Protecting your financial wellbeing at every stage of life. An important financial

More information

FREE LIFE INSURANCE PRACTICE EXAM

FREE LIFE INSURANCE PRACTICE EXAM FREE LIFE INSURANCE PRACTICE EXAM We offer an online video L&H exam prep course that includes over 10 hours of instruction. Our full pdf study manual and over 600 questions are also included. Please go

More information

Life Insurance and Annuity Buyer s Guide

Life Insurance and Annuity Buyer s Guide Life Insurance and Annuity Buyer s Guide Published by the Kentucky Office of Insurance Introduction The Kentucky Office of Insurance is pleased to offer this Life Insurance and Annuity Buyer s Guide as

More information

Resource 2.7 Introduction to Insurance Cover for Business What insurance is compulsory for businesses? Employers' liability insurance

Resource 2.7 Introduction to Insurance Cover for Business What insurance is compulsory for businesses? Employers' liability insurance Page 1 of 5 Introduction to Insurance Cover for Business All businesses need to be insured against risks, such as the theft of equipment or workrelated injury to staff. If you run a small business you

More information

SecurePlus Provider I N D E X E D U N I V E R S A L L I F E

SecurePlus Provider I N D E X E D U N I V E R S A L L I F E SecurePlus Provider I N D E X E D U N I V E R S A L L I F E B U Y E R S G U I D E TC27761(0906) Life is a journey. And while there are many unknowns along the way, you can be prepared. Preparations should

More information

What is insurance?... 3. What types of insurance are there?... 4. Life insurance... 5. Total and Permanent Disability insurance...

What is insurance?... 3. What types of insurance are there?... 4. Life insurance... 5. Total and Permanent Disability insurance... Contents What is insurance?... 3 What types of insurance are there?... 4 Life insurance... 5 Total and Permanent Disability insurance... 6 Trauma insurance... 7 Income Protection insurance... 8 Insurance

More information

What You Should Know About Buying. Life Insurance

What You Should Know About Buying. Life Insurance What You Should Know About Buying Life Insurance Life insurance is the foundation of financial security for you and your family. It protects your financial resources against the uncertainties of life so

More information

For expert advice call 01494 451441

For expert advice call 01494 451441 Protection Planning Life and Protection Insurance The cost of insurance, particularly life insurance has fallen over recent years, whilst the quality of cover has in many cases increased. With this in

More information

Discover What s Possible

Discover What s Possible Discover What s Possible Whole Life SM Flexible Choice SM Flexible Choice Whole Life for Individuals and Families Life is filled with possibilities As the path of life unfolds, life insurance may be the

More information

ANICO Signature Term. Life Insurance. American National Insurance Company

ANICO Signature Term. Life Insurance. American National Insurance Company ANICO Signature Term Life Insurance American National Insurance Company ANICO Signature Term Life Insurance $1,000,000+ ART 10-Year 15-Year 20-Year 30-Year $500,000 18-65 18-70 18-65 18-60 18-50 $50,000

More information

Key features of Futura

Key features of Futura Key features of Futura Helping you decide This important document explains the main points of the Futura policy. Please read this with your illustration. Please make sure you fully understand the product

More information

How will you be able to pay your student loans if you become sick or injured?

How will you be able to pay your student loans if you become sick or injured? How will you be able to pay your student loans if you become sick or injured? Introducing... Medical ValueGuard Own-Occupation Disability Protection For Your Student Loans You have invested countless hours

More information

PLC.9359 (12.13) UL INDEXED UNIVERSAL LIFE INSURANCE Product Guide Protective Indexed Choice

PLC.9359 (12.13) UL INDEXED UNIVERSAL LIFE INSURANCE Product Guide Protective Indexed Choice PLC.9359 (12.13) SM UL INDEXED UNIVERSAL LIFE INSURANCE Product Guide Protective Indexed Choice You need life insurance to provide financial protection for your loved ones. But you also understand the

More information

Need insurance? Insurance Financial Services Guide

Need insurance? Insurance Financial Services Guide Need insurance? Insurance Financial Services Guide 15 November 2013 About this guide This is a Financial Services Guide (FSG) to help you decide whether to use any of the insurance services offered by

More information