• Life Cover

Icoveronline Life Cover

Don't risk your family's assets by being under- or over insured. Let me structure a portfolio that's perfect for you
Icoveronline Life Cover

Most people believe that Life Insurance is putting money away so that when you die, a lump sum of money will go to your beneficiaries. This is true - if you have a family, partner, children, anyone who relies on you for their livelihood and security, you simply must take out Life Insurance, for that very reason.

But that’s only one of the important calculations to make when deciding how much Life Insurance to take out. There are three very important calculations that should make up your Life Insurance amount.

1. When you die, there's a possibility that you will have to pay Estate Duty {Estate duty is a tax on the total market value of a person's cash and non-cash assets at the time of his or her death} to the government, as well as Capital Gains Tax. {Capital Gains Tax is a tax paid from the deceased person's Estate, on any money made from the growth of the sale of their property, assets and investments.} That is the first calculation we make when determining your Life Insurance needs.
2. Secondly, we calculate what your family will need to pay on any outstanding debts. This includes bonds, car repayments and any other money that is owed to any other person or entity.
3. The third calculation is to determine what your family will need as an income every month to live in the manner in which they have become accustomed.

Too many people believe that because they have some life insurance, they needn’t think about it again. But the truth is, your cover can be tailor-made to really work for you. With a broker who stays constantly up-to-date with your circumstances and the insurance industry itself, you stand a far better chance of knowing that your family will really be taken care of in the way you intended. By not being adequately covered, you run the risk of forcing your family to sell off assets in order to get their hands on cash.

I call this THE LOLLIPOP EFFECT see the video above.

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