Affinity Consulting Group


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Affinity Consulting Group


Renewable Term Assurance

  • Taken for one year but automatically renewable at the end of each year
  • Cost starts low and increases each year with age
  • Pays a lump sum if you die
  • Has no surrender value at any time
  • Usually used for short term requirement or keyman insurance
  • Gives protection to your family if you die early, can provide for wife's income and children's education
  • Can be used to repay mortgage in case of premature death
  • Also used to insure key employees, particularly in small businesses
  • Typically a man with a young family can require insurance up to 10x his annual salary
  • It is also important to insure the mother of young children as the cost of maids, nannies, taxis can be very high.
  • Usually recommended to be written in a trust to simplify probate.

If you move abroad, do check that your life insurance covers you when living in another country. Many do not.

Term Assurance
Renewable Term Assurance
Whole of Life / Universal Life Assurance
Critical Illness Insurance
Permanent Health / Income Protection Insurance
Medical Insurance
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