Life Insurance is a contract between a policy holder and an insurer, where the insurer promises to pay a designated beneficiary a sum of money pre-agreed on the contract in exchange of a premium upon death of the insured person (the policy holder). The amount is usually paid to the beneficiaries, who are the family of the policy holder or a financial institution if the contract is assigned towards an amount due by the policy holder.
Life Insurance are usually fall into two major categories:
- Protection Policies – Designed to provide a benefit, typically a lump sum payment, in the event of a specified event. A common policy of this type is term Insurance.
- Investment Policies – Main objective is to faciliate the growth of capital.
Our Company can place various life policies through various insurers locally and internationally. Our life sales team are happy to discuss with you the need for Life Cover, mostly Term Life products.