Life is a journey and every day we are exposed to many risks that affect ourselves and those who depend upon us.
Our life insurance philosophy is that we all need to identify the risks that we are exposed to, then quantify (if possible) any potential financial losses that could arise from those risks and finally adopt an appropriate strategy to manage those risks.
Strategies to manage risk can vary from:
Risk minimisation
Living a healthier lifestyle i.e. through taking personal actions such as eating healthier, exercising more, reducing alcohol/tobacco intake, reducing stress in your daily life and most importantly having regular medical check ups with your own GP. Avoiding unnecessary personal risk situations.
Risk retention
Accepting our frailty and taking responsibility for life's inevitabilities. By acknowledging our own mortality and vulnerability we can make sure that our personal affairs are in order. Areas such as having a valid up to date Will, keeping personal information and documentation secure and ensuring that our personal legal representative is fully aware of our current situation.
Risk transfer
When the financial consequences of an unforeseen event (such as a premature death, a major health trauma, loss of income due to a long term accident or illness) are significant a wise strategy is to transfer that risk (if possible) to a third party who is usually an insurer. Peace of mind for you and your dependents is why you pay the premium so that you are covered financially against life's unforeseen events.
To assist you in quantifying your potential losses (i.e. determine your potential sum insured) you will need to use a Life Insurance Needs Calculator.
We believe that:
Insurance is a necessity not a luxury as it secures your families well being.
Having no insurance is only for the foolhardy or the very rich.
Reviewing your types and levels of cover on a regular basis is an essential part of an ongoing insurance program as your situation and circumstances change. Your insurance program needs to be reviewed on a regular basis.
For long term insurance needs consider using level premiums. If you have a long term insurance requirement you will probably save money over the long term.
Insurance is a necessity and you need to evaluate the impact on you and your family/business of premature death, or a major health crisis or a long term loss of income through disablement. It seems very logical that in order to protect your standard of living that you can best do this by paying some insurance premiums and protecting yourself rather than not covering yourself and being totally at risk.
Many people comment to us "if only I had thought about that...." Rather than the well prepared few who thank us for prompting them into preparing for the unforseen.