If you calculate the average amount of income an individual is expected to earn over a lifetime, it often far exceeds the value of any homes, cars or assets currently owned. Although most people have insurance to cover the cost of their home or car, worryingly many people don’t have life insurance or critical illness cover.
Life insurance and critical illness cover form the basis of a financial plan and are considered part of the “protect” stage of financial planning. At Finsbury Associates, we take your insurance planning and protection needs seriously. We conduct an individual assessment and provide tailored insurance solutions which will protect your loved ones should the worst happen.
What is life insurance? In short life insurance provides a financial pay out to your loved ones should you die during the policy term. You set the duration of the policy term when completing the application. So if you take out life insurance and pass away before the policy ends then a claim can be made
According to the American Association for Critical Illness Insurance, a 25-year-old male has a 34% chance of suffering cancer, a heart attack or a stroke prior to turning 65. If you should fall ill, the last thing you want to be worrying about is your finances. Therefore it’s important to ensure you have a critical illness policy in place to help provide a financial buffer if you should fall ill.
Critical illness cover that will provide a lump sum payment if you are diagnosed with one of the specified life-altering illnesses. Financial hardship is the last thing anyone wants to worry about when recovering from serious illness. Critical illness cover helps to put financial woes to the back of your mind, so you can better focus on regaining your health.
Critical illness cover and life insurance is an essential to help protect your finances. It is particularly important for anyone who is has a family or children who depend on them financially. However everyone should have life insurance and critical illness cover.
Typically, the younger you are, the cheaper your life insurance and critical illness cover will be. You can choose a variety of methods such as:
At Finsbury Associates, we specialise in sourcing insurance policies whatever your circumstance. Payments are made on a monthly or annual basis and start from as little as 65 AED a month for life insurance only.
We also offer a range of important additional policies that could be relevant to you. From permanent and temporary disability cover, loss of income due to redundancy, accident protection and general health cover, we source the solutions that can help protect your loved ones in most circumstances.
If you’re seeking a financial services provider who can source bespoke insurance policies and solutions, contact our knowledgeable Finsbury Associates team today.