Your death would be hard enough for your loved ones to deal with, without having to cope with extra financial stress. Life Insurance helps your loved ones to cope with those additional expenses at a difficult time.
This time we highlight the Life Insurance benefits for our Clients to develop their interest so that they can insure to meet more common needs of individuals as follows:-
- Cash to provide income for Dependants
- The death of the breadwinner usually removes the main income source for the family. The Endowment Life Policy provides the cash payable to dependants.
- Cash to repay outstanding Loans and other debts.
- Money Lenders are much worried to lend out money if there is not enough security from a borrower. The Endowment Life Policy is another means of providing financial security accepted by money lenders as a form of security for loan repayment defaults.
- Retirement benefits.
- A policy arranged to mature at the time of retirement will top-up KPF funds to supplement other superannuation benefits and also will provide cash to fulfill aged dreams.
- Education of Children.
- The cost of education can be spread over 10, 15 or 20 years by arranging a policy soon after the child's birth.
- Savings for the future.
- Any special need can be met through spreading the cost over a number of years by effecting an endowment policy. Think about your special need, it could be - a wedding day or purchasing saloon car or building own house, or birthday party etc... Let your Life Policy saves for you.
- Investment of funds.
- An endowment policy can provide an effective interest return. KIC offers a good rate of bonuses declared at end of each year.
- Non-taxable Life Premium
- At the end of every year the Tax Department would re-assess your pay-roll tax and would advise whether you would have to pay more tax or to receive a tax returned. Most Policyholders are likely to get a tax refund of 20% from a non-taxable life premium paid during the year.
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