LIFE INSURANCE
Life Insurance is one of the oldest insurance policies in history, and has helped countless families to manage after the unexpected loss of a loved one. Safeguard your family’s financial future by purchasing international life insurance with GLAJOLA RESOURCES and join thousands of expats enjoying excellent customer service.
What is Life Insurance?
Life Insurance
Life Insurance, is designed to provide payment to your spouse, relatives, and loved ones upon your death. This policy offers coverage worldwide, ensuring that whether you pass away abroad or in your home country, your family will receive the promised benefit. This financial support aims to alleviate the economic challenges that arise from your death, covering expenses such as funeral arrangements, repatriation of your remains, legal matters concerning your estate, outstanding debts (including mortgages), and compensating for the loss of your family's income.
Who Needs Life Insurance?
Life insurance offers essential financial protection that benefits a diverse array of individuals.
Parents/Partners
Life insurance for parents with young children is crucial because it ensures financial security for their family in the unfortunate event of the parent's death.
Insurance is important to spouses or partners primarily because it serves as a financial safety net and provides peace of mind and in the event of the parents' death, it helps in preventing financial hardship and providing peace of mind for the future.
Business Owners
Life Insurance provides valuable support for business owners aiming to secure financial stability in difficult circumstances and for income providers, who are individuals responsible for contributing financially to the stability and well-being of others. It helps ensure that businesses can handle financial obligations like outstanding debts, employee healthcare costs, and unexpected expenses.
Home Owners
Life insurance benefits homeowners by ensuring the mortgage is paid off, preventing the loss of the home, covering other debts costs, and providing financial security for the family. This allows the family to maintain their lifestyle and keep their home without financial strain, and can also assist in estate planning by covering estate taxes and ensuring the property remains within the family.
What does Life Insurance cover?
Life insurance covers a variety of financial needs and expenses that may arise after the policyholder's death. Here are some typical things that life insurance covers:
Death Benefit: The primary purpose of life insurance is to provide a lump sum payment (the death benefit) to beneficiaries upon the insured person's death. This amount is typically used to replace lost income and support the financial needs of surviving family members.
Funeral and Burial Expenses: Life insurance can help cover the costs associated with funeral and burial arrangements, which can be substantial.
Debts and Financial Obligations: Life insurance proceeds can be used to pay off outstanding debts such as mortgages, car loans, credit card balances, and personal loans, ensuring that these financial obligations do not burden surviving family members.
Education Expenses: Some life insurance policies include provisions to fund the education expenses of children or other dependents, ensuring that their educational goals can be met even after the insured's death.
Daily Living Expenses: The death benefit can be used to maintain the standard of living for surviving family members, covering ongoing household expenses, utilities, groceries, and other necessities.
Estate Taxes: Life insurance can provide liquidity to cover estate taxes or other costs associated with settling the insured person's estate.
Business Continuity: For business owners, life insurance can ensure that the business can continue operations or facilitate a smooth transition in ownership.