Life Insurance protects you and your family against unforeseen circumstances is something we believe everyone should consider with a life insurance plan. Whether it’s protecting against premature death, providing for dependent’s or protecting against the loss of earnings due to serious illness, Nexus offers a comprehensive range of personal life insurance options from term insurance to whole of life solution.
Life insurance is protection against financial loss that would result from the premature death of an insured. The named beneficiary receives the proceeds and is thereby safeguarded from the financial impact of the death of the insured. The death benefit is paid by a life insurer in consideration for premium payments made by the insured.
- Term Assurance: Some life assurance policies are designed to meet temporary life cover needs. A term assurance policy is designed to provide protection during the fixed policy term. There is no investment element in such policy as it provides pure protection.
- Whole of Life plan: As the name suggests, the plan term is open ended, i.e. continues throughout the lifetime of the life assured, and provides a sum assured which is payable on the life assured’s death. It contains an investment element, and will build up a cash value as well as provide funding for the cost of future benefits throughout the client’s lifetime. The emphasis is on providing protection benefits.