Whole of Life
It makes financial sense!
The whole of Life Insurance, as the name suggests, it provides life cover for the whole life of the insured.
In addition to life cover, it also includes investment, which accumulates a cash value over the life of the plan. This cash value is one of the important elements of whole life insurance.
Seguro can design whole of life polices which are unit linked and also offer the most important critical illness benefit for the whole of the life of the insured. Such policies are designed to address the short comings of a term insurance.
The whole of life plans can be compared to an own house on a mortgage, where you pay the mortgage for a certain period, once the mortgage is paid the property is yours. When you sell the property, you can expect to get more than what you have paid for it, similarly, a whole of life plan pays out a cash surrender value, when you feel that you no longer need cover and surrender the plan.
Buying a whole of life insurance policy is a good idea if one or more of the following features are important to you:
- Life Long Critical Illness Cover: All Whole of life insurance plans offered by Seguro, cover critical illness till age 95 – 100. If you are concerned about depleting your retirement savings in the event of critical illness after age 70, then a whole of life plan is ideal for you.
- Leaving a legacy: A Whole of Life Insurance is an ideal tool to build a large legacy at an affordable cost.
- High Price but Low cost: For people who are young, especially less than 40 years of age, buying a whole of life plan with critical illness benefit is a very good idea.
- Flexibility: All Whole of Life Insurance plans offered are very flexible, you can increase or decrease the premiums and cover after 2 years, you can also add or remove additional riders like permanent total disability benefit, Accidental death benefit, dismemberment benefit, Family income benefit at any point of time.