In this article Stefan Reid, Financial Advisor at the Sagicor Life Corporate Circle branch highlights the benefits of life insurance and why it is an important part of the financial wellness plan for yourself and your loved ones
If the past two years are anything to go by, planning for the unexpected and protecting your family’s financial future is paramount. Life insurance is one option that can help you to build financial security and protect loved ones and even businesses from life’s eventualities.
With the unpredictability of life, life insurance is one of the most suited options to assure the protection of your legacy and care for yourself and your loved ones. It is an overarching safety blanket that for years has enabled individuals to maintain their families’ lifestyles through all life’s stages.
But what exactly is life insurance? In the strictest sense, this is a contract between you and your life insurance company wherein you agree to pay for the policy on a regular basis, in the form of what is called a premium, and your insurer agrees to pay out a sum of money to your beneficiaries at a specified period of time, such as in the event of your passing.
Reason 1
It protects the lifestyle of your family or dependents, by planning for their long-term health and happiness with coverage of their immediate needs and expenses.
Reason 4
It provides extra support through retirement and can be used to secure your financial stability during this period, as with some policies, you can receive cash payouts and investment options that can help you.
Reason 2
It secures a financial future for your loved ones and spares them from the burden of your debts. Life insurance covers expenses such as mortgage and other debts, especially those which are co-signed and would be an additional expense to your loved ones, as well as provides funds for final expenses.
Reason 5
It gives you financial security in the long-term and can be used for things such as downpayment on a home, car purchase, or tuition payment.
It protects your business interests, particularly in the case where you have a business partner.
With over five decades in the field, Sagicor Life Jamaica is a trusted insurance partner that can help you to prepare your legacy and secure your financial future. Catering to a slew of persons, the company’s life insurance offerings include coupon policies that offer coverage up to $10 million and requires no medical certificates; term life, which provides coverage for a set period;
and universal life insurance coverage, which allows the policyholder to alter the policy in response to life changes.
In addition to death benefits included in these coverage options, policies often include an investment component and other living benefits, such as hospitalization coverage. Persons may also acquire critical illness coverage, which provides a lump sum payout in the case of specified medical conditions.
So, if you haven’t already secured your life insurance policy, the time is now to get this done to secure your and your family’s future. Speak with a Sagicor Financial Advisor today.
To read more, please purchase a copy of Buzzz Caribbean Lifestyle Magazine Vol 11 #1 in a store near you.
Share this post:
In this article Stefan Reid, Financial Advisor at the Sagicor Life Corporate Circle branch highlights the benefits of life insurance and why it is an important part of the financial wellness plan for yourself and your loved ones
If the past two years are anything to go by, planning for the unexpected and protecting your family’s financial future is paramount. Life insurance is one option that can help you to build financial security and protect loved ones and even businesses from life’s eventualities.
With the unpredictability of life, life insurance is one of the most suited options to assure the protection of your legacy and care for yourself and your loved ones. It is an overarching safety blanket that for years has enabled individuals to maintain their families’ lifestyles through all life’s stages.
But what exactly is life insurance? In the strictest sense, this is a contract between you and your life insurance company wherein you agree to pay for the policy on a regular basis, in the form of what is called a premium, and your insurer agrees to pay out a sum of money to your beneficiaries at a specified period of time, such as in the event of your passing.
Reason 1
It protects the lifestyle of your family or dependents, by planning for their long-term health and happiness with coverage of their immediate needs and expenses.
Reason 4
It provides extra support through retirement and can be used to secure your financial stability during this period, as with some policies, you can receive cash payouts and investment options that can help you.
Reason 2
It secures a financial future for your loved ones and spares them from the burden of your debts. Life insurance covers expenses such as mortgage and other debts, especially those which are co-signed and would be an additional expense to your loved ones, as well as provides funds for final expenses.
Reason 5
It gives you financial security in the long-term and can be used for things such as downpayment on a home, car purchase, or tuition payment.
Reason 3
It enables you to build your family’s generational wealth and provides an inheritance for your children.
Reason 6
It protects your business interests, particularly in the case where you have a business partner.
With over five decades in the field, Sagicor Life Jamaica is a trusted insurance partner that can help you to prepare your legacy and secure your financial future. Catering to a slew of persons, the company’s life insurance offerings include coupon policies that offer coverage up to $10 million and requires no medical certificates; term life, which provides coverage for a set period;
and universal life insurance coverage, which allows the policyholder to alter the policy in response to life changes.
In addition to death benefits included in these coverage options, policies often include an investment component and other living benefits, such as hospitalization coverage. Persons may also acquire critical illness coverage, which provides a lump sum payout in the case of specified medical conditions.
So, if you haven’t already secured your life insurance policy, the time is now to get this done to secure your and your family’s future. Speak with a Sagicor Financial Advisor today.
To read more, please purchase a copy of Buzzz Caribbean Lifestyle Magazine Vol 11 #1 in a store near you.
Follow the Buzzz on Instagram and Facebook
Share this post: