Mortgage Protection Auckland

06 May Why Life Insurance Is The Greatest Gift For Kiwi Families…

Today Life insurance actually has quite a few additional benefits than just a straight lump sum pay out when you die. These are some:

  • A lump sum payment. If you die, this payment can be used to pay off large debts such as your mortgage, credit cards, medical expenses or bills and provides your partner and children with the money they need to take care of themselves without you, and cover any necessary expenses.
  • Terminal illness benefits. You can receive advance payment if you are given 12 months or less to live.
  • Funeral benefit. Provides an advance payment of up to $15,000 to help with funeral and other related costs.

There are some life insurance products that provide additional benefits compared to others. If you receive a terminal illness then if you have the above included in your product you will get an early pay out.

This can be the greatest gift you could receive because it would provide you with an early lump sum in which you can choose to do what you want. You may want to do something special with family that will provide a memory for them for life. You may want to go on a world trip or blow it all at the casino.

When you have a few months left at least lack of money wont be one more stressful factor when waiting to die.

Some products also have a built in funeral payment. Once you die this means your family can get access to upwards of $15,000 instantly to pay for the funeral. They wont have to wait for probate to occur which can take years. Unfortunately when some one close dies the last thing you want to deal with is financial stress of the bills that are left behind.

You want to have a peace of mind to be able to grieve properly and not be burdened down with money troubles. Most Kiwis will die with only a few thousand dollars in their bank accounts, so the unfortunately the family is left to clean up the financial mess left behind. It can be very stressful.
You also have the option to level your premiums.

We do this with many of our clients. What this means is you lock in a rate now and your premiums will never go up due to age. Many premiums start off very cheap and affordable but when you hit your 50s, 60s and 70s in many circumstances life insurance premiums become unaffordable because in these age brackets you are now becoming a high risk.

If you lock in and level your premiums at the start you will not face this problem later on and can there for afford to keep your life insurance to age 100 almost guaranteeing you will get paid out.

Interested In Protecting You And Your Family With Life Insurance? Click here now to get your free consultation today and speak with one of New Zealand’s Most Trusted Advisors.

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