Covering Your Life

Life insurance cover is one of the most comprehensive personal risk insurance policies available. It pays out a lump sum in the event of a premature death, money that could potentially make a huge difference to your family financially.

Life insurance policies will vary greatly on how much is paid out. Generally speaking, the larger the payout you are after, the higher your premium will be. Other factors which may affect the cost of your premium include whether or not you are a smoker, or if you have any existing medical conditions.

What you are covered for will also vary between policies so it’s important to understand what events will trigger a payout. Most policies will cover a range of accidents and illnesses.

Once you have life insurance, you should make sure you review it regularly to ensure your cover is adequate. Some policies will allow you to automatically increase costs, by indexing for inflation, for example, but some won’t so you will have to adjust your policy manually.

Your risk adviser can assist you in determining your life insurance requirements and to making changes to your existing policy.

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