Life Insurance


Life Insurance (also referred to as Term Insurance) provides a lump sum payment on death or terminal illness of the life insured. Payment is made to the legal owner of the policy who need not have any relationship to the life insured. Typically the policy owner can be the spouse, a business partner, an employer or the life insured themselves. On death of the insured, the lump sum is paid to the policy owner (or the insured’s estate) and can be used in any way chosen.

Payment will also occur, as with many products on the market, for a terminal illness when the insured is diagnosed as having twelve months or less to live.

The sum insured depends on your individual circumstances. As a general rule you should aim to have enough cover to repay all large bills and debts, and provide your family or other dependants with enough remaining money to live off at a reasonable standard.

Want to find out more?

Taking out insurance is sound financial management. Wealth protection is as important as its creation, and much easier and quicker to achieve. For further information and an assessment of your own personal needs, contact Star Financial Services.

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