New Generation Life Insurance

Life cover has changed considerably in the recent past.
You now can buy what you need - not what you have to!
Dynamic changes have occurred with;
The cost of your cover.
The extent of your benefits.
Your ability to claim.

Why is there a huge swing into this new form of cover?

The hidden "savings" in your old policy.

No longer do you have a "hidden" portion of your premium in a savings plan, which – apart from securing a small overdraft or helping with a few premium payments in retirement – you can never really use. And if you can use the savings, it really amounts to very little down the years.

If you have an older type life policy, you will be aware of this poor savings return.

How much of an overdraft will your savings really secure?

How many premiums in retirement will it really pay for? Not much.

The savings are not paid out in addition to your life cover, the insurance company keeps it.
And if you want to use the cash, you have to surrender you policy. Crazy!

You are better off buying your risk cover separately and saving in a proper investment.
No wonder, people have demanded a new form of cover.

You could save considerable premium!

I've discovered that many clients are paying too much for Life/Disability cover. Especially if your policies are a few years old.
Rates have changed because of better underwriting statistics. Your personal rate improves as you earn more and as your lifestyle improves. You can now structure your policy to meets your needs. Both now and in the future. You no longer have to buy unnecessary cover or benefits. You can add multiple lives to your one policy - again, saving costs.

Increasingly policy owners are realising that life and disability cover should be a separate investment from savings.

WHY?

• Returns in a life product have averaged around 5% per year. Some companies have returned zero percent in some years!
• The tax concessions offered to insurance companies have been reduced over the years, with the result that investment growth in life policies is now extremely low.
• With Whole Life products, you do not know how much of the premium is cost and how much is savings.
• You have an extremely limited say in the investment vehicle.
• It may also be expensive to take a loan, should the need for cash arise.
• Life companies specialise in life insurance - investment companies specialise in investments.
• Far better returns can be made by investors in an investment product than in a life insurance product. It is therefore far more sensible to have inexpensive life cover and to invest the portion that would have gone to savings in a properly structured investment product.

By diverting your "saved" premiums, you could significantly boost your maturity values in your education funding or retirement investments.

There's more.

For the same premium you are currently paying, you could increase your cover.

And that's the main reason you have insurance.
I have yet to meet dependants who have received too much life insurance proceeds.
I have yet to meet a disabled client who has enough money to comfortably survive.
If you can increase your benefits AT NO EXTRA COST, surely you should consider it?

Live a healthy lifestyle and you can get discounted premiums!

Why subsidise unhealthy lives? Control your future premiums and save.

You can link your cover to foreign currencies.

Then when the rand drops in value, your cover grows substantially (in rand terms).

And there's more - seriously.

Do you know that you could get a refund of your life insurance premium!

Yes, a payback of a portion your premiums if you have no disability or dread disease claims over time. Now that's a first!
(Some products even pay a portion your premiums back!)
Keep your lifestyle and heath sound and you will be rewarded.

Now you can buy just disability or dread disease cover.

In the past, you had to buy life cover before you could buy disability or dread disease cover.
Perhaps you did not need the life cover? Now you no longer have to pay for unnecessary life insurance.
Perhaps you are young, or have enough life insurance, but need to protect your income-earning potential?
You realise that surviving a life-changing event could cripple you financially.
Now you can protect your income earning potential, separately from your life insurance.

Now you know exactly what you are covered for.

Disability cover was fraught with claim repudiations. It was extremely difficult to claim a disability.
Today this has changed. Disability claims are now far more accurately described. Far more comprehensive than ever before.
Just how certain are you that your disability cover will pay and not be repudiated? You owe it to yourself and those that will have to look after you (if you are disabled) to make sure you will have a claim.
"An ounce of prevention is worth a lifetime of cure."
If you're having a tough time getting by on your salary, how do you think you will get by without it?
Get a second opinion on your cover. It won't cost you a cent!
There is no question. There is no doubt.
You could benefit from an appraisal of your insurance.
Even if you don't restructure your cover, at least you will know what you have currently.
And that's great peace of mind.

Now you can add other lives to your policy.

It saves on costs. You have one policy for all your needs.

You don't have to cede all your cover for one security.

You can cede a portion of it. It will save you considerable estate duty.

You also had to loose some (or all) of your life cover to meet a disability or dread disease claim.
That drastically affects your future life insurance planning.
Now you can design your cover to suit your needs without disability or dread disease claim affecting your life cover.

You can also stop unnecessary cover (like bond or liability insurance) when you no longer have a need for it

- without affecting your total plan.

If you have life policies older than 2 years, you should investigate these new forms of cover!

• Do you need higher disability than life cover, because you are single? No problem!
• Want only disability cover? No problem!
• Need to cede only part of your cover, not all of it? No problem!
• Want one policy for both of you? No problem!
• Want your life cover to be unaffected by any other claims? No problem
• Do you need disability cover in retirement? No problem!
• Do you lead a healthy life? Now you can be rewarded with premium discounts!

Now you can buy what you need, when you need it.

Have you been unable to get life or disability cover?

Have you been loaded or refused cover?
You can now get accidental death or disability cover with NO MEDICAL UNDERWRITING!
It will pay out as long as an external, unexpected event - that is not traceable, even indirectly to your state of mental or physical health - happens to you.

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New Generation Disability cover.

Traditional disability cover has the highest number of claim repudiations.
More than ever, you need to have properly defined disability cover to ensure you will have a claim.
Now you can more easily define what type of cover you want.
Disability can extend for your whole life, vital for cover in retirement!
If you find you cannot perform normal daily activities, like tying a shoelace, you will have a claim.

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New Generation Dread Disease cover.

Through improved medical technology, the chances of surviving a life-changing illness is high.
But will your money also survive the costs?
Dread Disease cover has been greatly enhanced. Conditions like Alzheimer's or Parkinson's are now included.
And it will pay on initial diagnosis, no waiting periods.

So, maybe it's time you re-look at your life and disability cover?

Are you sure;

You have sufficient cover?

You are not over-insured and paying premiums that would be better off in an investment?

You are really covered in the event of a disability?

You have really provided for your family, after estate duty and executors fees are paid?

You have disability cover after age 65, when it really is important?

You have covered all the financial threats facing your family in the event of a claim?

In fact, with the new risk products available today, it is extremely likely that you can SAVE considerable premium on your cover - or substantially INCREASE your cover for the same premium!

Please call me for an unbiased and objective analysis of your policies.
You may not have the best product for your needs!
And you may be pleasantly surprised at just how low your premium can be.

Today, more than ever, money is the price of the right to live. And life insurance is the only way to meet that price should death, disability or severe illness strike.

If you would like an indication of what Life, Disability and Dread Disease cover will cost, please complete the LIFE INSURANCE ENQUIRY FORM and mail it to me. I will reply with some values for you.

Don't leave your concern here. Call me for advice - no obligation!

Especially if you are interested in a New Generation Life Insurance.

pyburn@peterpyburn.co.za