Life Insurance may be used as a savings vehicle in order to help you reach your financial goals. By purchasing a Life Insurance Savings policy, there is normally the option to protect those savings by adding traditional Life Insurance to these plans. You choose the amount you want to save at the frequency which best suits you, with the option of annual, semi-annual, quarterly or monthly payments. Single premium polices are also available, whereby only one premium is paid, once, for the duration of the policy.
The advantage of saving by using a Life Insurance policy is the cover you will obtain in the case of death. If, for example you are saving for your child’s wedding and unfortunately pass away before the big day, the proceeds of your policy will be paid immediately, in full, therefore still allowing what you worked so hard for to come true.
Life Insurance Savings plans come in two forms – either interest-sensitive (with profits) or those which are normally linked to collective investment schemes. At Etisicura we will guide you on the best type of policy which suits your needs.