Personal insurance

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Protect your family against the unexpected

Personal insurance

Personal Insurance is a type of cover that provides financial security to you and your family for events such as a serious injury or illness, loss of ability to earn, total and permanent disablement or even death.

Personal insurance include:

There are three types of personal insurance :

People often get personal insurance in order to maintain their way of living, with financial support to cover any outstanding debts and everyday expenses.

Lief Insurance

Life insurance isn’t just for you. It’s for those who depend on you most. With the right planning, you can ensure that your loved ones will have the financial resources to go on living their dreams when you can no longer provide for them.

Death benefits received by your family might be used to provide adequate income for the family, pay off the mortgage on the family home, cover final expenses such as medical bills, and ensure that your children are able to go to college.

  • Term life insurance
  • Endowment life insurance
  • Permanent life insurance
    • Whole life or Ordinary life insurance
    • Universal Life Insurance
    • Variable Life Insurance
    • Variable Universal Life Insurance
  • Other Types of Life Insurance
    • Accidental Death and Dismemberment Insurance
    • Mortgage Life and Credit Life Insurance
    • Simplified issue life Term life insurancensurance/No Medical Exam Life Insurance
    • Guaranteed issue life insurance
    • Key Man Life Insurance
    • Final Expense Insurance
    • Survivorship (Second-to-Die) Life Insurance
    • Joint Life (First-to-Die) Insurance
    • Group life insurance

Term Life Insurance :

Term life insurance provides death benefit coverage at a guaranteed premium for a specific period of time.

Endowment Life Insurance :

Unlike term policy which pay out the sum insured, along with profits, only over the policy term, endowment policy payment the sum assured under both scenarios – death and survival.

Permanent life insurance

Permanent life insurance is a kind of life insurance such as whole life or endowment, where the policy is for the life of the insured, the payment is guaranteed at the expire of the policy (assuming the policy is inforced) and the policy earns cash value.

Whole Life Insurance :

Whole life insurance provides both a guaranteed death benefit and guaranteed cash value for a fixed, or guaranteed, premium amount.

Universal Life Insurance :

Universal life insurance provides both a death benefit and the potential for accumulating cash value, which may be accessed to fund future financial needs.

Variable Life Insurance :

This policy is a combination of death protection and a savings account that you can invest in stocks, bonds and money market, mutual funds. Your policy value may grow more quickly, but you also have more risk. If your investments do not play well, your cash value and death benefit may decrease. However , some policies guarantee that your benefit of death will not down below a minimum level.

Variable Universal Life Insurance :

Provides similar flexibility as a universal life insurance policy, except that the owner of a variable policy chooses where premium amounts will be invested.

To conclude:

  • insurance of human life values against the risks of death, injury, illness or against expenses incidental to the latter management.
  • insurance purchased for personal or family protection purposes as contrasted with insurance of business property or interests.