Picking the right life insurance policy can be challenging. Ensuring that you choose the right coverage for your family's future is crucial. At imsure, we believe in providing personalised service that sets us apart. Here’s is a comprehensive guide on life insurance, including the different types available and how to choose the right one for individual needs.
1. Understanding Life Insurance
Life insurance is designed to provide financial protection and support to your loved ones in the event of your passing. It helps cover expenses such as funeral costs, debt, mortgage payments, and more, offering financial security, income protection, and peace of mind for your family and designated beneficiaries. A life insurance policy pays out to the designated beneficiaries, ensuring they can manage financially if you're not around.
2. Determining Your Needs
To choose the right life insurance policy, consider the following factors:
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Family Situation: Assess your family's financial needs and future goals. Consider how much income they would need to maintain their lifestyle if you were no longer there to provide for them.
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Coverage Amount: Calculate the amount of coverage required to cover debts, mortgage, education costs, and everyday living expenses.
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Premiums: Evaluate your budget to determine how much you can afford to pay in premiums. Remember that Whole Life and universal life insurance policies tend to have higher premiums than term life insurance.
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Risk Factors: Consider your health and lifestyle. Certain risk factors, such as smoking or pre-existing health conditions, can affect your insurance rates.
3. Types of Life Insurance
Choosing the right type of life insurance depends on your individual needs, beneficiaries, and financial goals.
Here are some common types:
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Term Life Insurance: Provides coverage for a specific period, typically 10, 20, or 30 years. It is an affordable option for temporary needs, such as mortgage payments or children’s education. However, if you outlive the policy term, there is no payout.
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Whole Life Insurance: Offers lifetime coverage as long as premiums are paid. It includes a savings component known as cash value, which grows over time. While the premiums are higher compared to term life insurance, it provides a guaranteed death benefit.
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Universal Life Insurance: Combines lifetime coverage with flexible premium payments. It includes a savings component that earns interest. It offers more flexibility but requires active management of the policy.
4. Benefits of imsure Life Insurance
These are just some of the benefits you receive with imsure life insurance cover:
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Unlimited Cover: Choose from a range of cover options to suit your needs.
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Flexible Payment Options: Opt for either a single lump sum payment or regular monthly payments.
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Early Payment Options: Access funds early if your situation requires it.
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Adjustable Coverage: Increase your cover without medical questions if your circumstances change, such as getting married, having a baby, or purchasing a house.
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Level Premiums: Enjoy the peace of mind that your cover costs the same amount every year.
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Trusted Partners: Our policies are underwritten by one of New Zealand’s leading life insurers.
Why Choose imsure?
At imsure, we go beyond just providing insurance policies; we build lasting relationships with our clients. Our advisers, located in Christchurch, take the time to get to know you, understand your family situation, and clarify any policy exclusions, ensuring that the cover you receive fits you like a favourite glove. With our commitment to personalised service, extensive experience, and unwavering integrity, imsure is your trusted partner in navigating the world of insurance.
Get in Touch Today
Ready to secure your family's future with the right life insurance policy? Contact imsure today for free advice and a personalised insurance plan tailored to your needs. Our team is here to provide the guidance and support you need to protect what matters most.
