International Term Life cover and Lifetime cover represents excellent value for money. It will provide you and your family peace of mind at an affordable price and furthermore you will always know where you stand. Both the amount that the Insurance Company will pay out and your monthly payment will usually stay the same throughout the length of the Plan.
You can choose how you would like to pay. You can pay in a choice of six currencies, USD, GBP, Euro, Yen, HK dollar or Swiss Franc.There can also be a provision for early payment of benefits insofar as your cash sum can be paid out early if you become terminally ill.
You will be providing real financial security for your loved ones. Your family will have a cash sum should you die prematurely, so that they can continue to pay the bills and have money left over.
If there is an outstanding mortgage on your home the Plan can ensure that your outstanding mortgage and any other debts are paid off. As many lenders these days do not themselves insist on your having full life cover in place to pay off the mortgage, the setting up of the International Term Life cover will prevent the Lender from re-possessing the family home. You can be secure in the knowledge that your family will not have to cope with the prospect of losing their home at what would already be a very difficult time.
You can leave your entire estate to whom you wish. Take out a Plan to cover any death duties and ensure that your loved ones receive your estate in full. The Plan can be set up under an International Trust or on a "Life of another" basis such that any taxes that have to be paid on death can be funded without any subsequent reduction of the value of your Estate as far as your family and beneficiaries are concerned.
If you were to die unexpectedly, would your partner and children be able to continue to afford life's little luxuries - annual holidays, music and sports lessons, school holidays and trips or the fees for private education? Or would paying for even the basics of everyday living such as heating, clothing and food, loan and credit card repayments, medical expenses and child-care costs become a problem? If you establish the Life Cover at the appropriate level all of these potential problems for your family will disappear.
In taking out the Life Cover Plan you would have peace of mind of knowing that your family has an appropriate amount of protection to help them survive financially without you.
Protection for your Business. Is your idea of business protection to install alarms and employ security guards?
If so then you might not be protecting the most important part of your business - YOU.
There is no getting around the fact that whatever type of business you own, your death could have a catastrophic effect on its future, not to mention your estate and the inheritance you leave your chosen beneficiaries.
The following scenarios show where the International Term Life Cover Plan can help to ease the strain on a business following the death of a "Keyperson".
On your death, all of your business's assets or debts will be passed on to your estate. It will then be left to your beneficiaries to decide whether to continue with your business or to sell it.
If they decide to continue with the business there could be a delay in getting the business up and running again, which could lead to problems with servicing any debts.
if they decide to sell or to wind up the business, any outstanding debts will need to be paid off. As a Sole Trader with unlimited liability, your estate as well as your business could be at risk.
By taking out the International Term Life Cover Plan, any business debts
and/or any liability for redundancy payments can be covered.
This means that you can leave your estate to the people you want to benefit
and not to your creditors.
In most instances, and unless you have a specific partnership agreement, your partnership will cease on the death of any of the partners.
Your estate will include the value of your share of the business but will not have any say over how the business is run in the future. In addition, unless there is a legally binding agreement, it may be some time before your surviving partners can find the money to pay your share of the business to your estate.
The loss of any partner can have a devastating effect on the business profits and the management of any debts. In the worst-case scenario, the business may have to be wound up if it is financially unable to continue.
If each of the partners take out an International Term Life Cover Plan, on their death the business will receive enough money to ensure that their estate promptly receives the full value of their share of the business. This can cover the expenses of finding and training a suitable replacement and maintain the confidence of the business's creditors, employees and customers. Although you cannot be replaced, it will go some way to compensate the business for your loss.
As a Shareholder you own a part of the company and are possibly one of its directors, managing the day-to-day running of the business.
On death, your shares are normally passed to your estate. Whilst this may sound straighforward, are you sure that your beneficiaries are willing or able to take over your position within the business? Are you sure your beneficiaries would be able to find someone willing to pay a fair price for your shareholding?
By setting up an International Term Life Cover Plan, in the event of your death the surviving shareholders will be able to use the proceeds from the Plan to buy the shares from your estate, for a fair price.
All businesses contain people, who may not be partners or directors as such, but nonetheless are the key to the success and profitability of the company. Many of these businesses would be severely affected if one of these key people were to die suddenly, leading to problems such as loss of confidence in the company, withdrawal of credit facilities, and the need to recruit and train a replacement. In extreme circumstances, it could even lead to the bankruptcy of the company. In addition, there may be the possibility of personal liability in the event of a company failing. The provision of term Life cover on a key person or persons will protect against these eventualities and ensure the successful continuation of the business.
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