Insurance 101

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Many persons do not see the need for insurance, unless they die. I took the opportunity to contact Karlene Vaughan an insurance sales agent with guardian group.

Why do I need life insurance?
Life Insurance is needed for all the eventualities that life throws at us. Four main reasons death, critical illness, disability and old age. It is about transferring the risk from yourself to the company.

What is the minimum available monthly payment for a Life Insurance?
A monthly payment is calculated by the clients date of birth.

What is a policy lapse?
A policy lapse is the non payment of premiums, whether it be monthly, quarterly, semi- annual or annual.

How does a policy lapse?
Most policy becomes lapsed for non payments up to three months. However, if you have a equity linked policy, the funds in the investment will pay the policy until the funds are depleted.

Will I be able to get back all my monies paid, if my policy lapse?
Do remember that an agreement was signed upon you getting the policy. You promise to pay the premiums and should something happens the company pays the lump sum of money that was signed to.
Just to note should you have a challenges making the premiums, it would be best to surrender the policy and get back what you can, and not let the policy last, where you would get nothing back.

What if I am more interested in investment and not Life Insurance?
Firstly the company’s core business is life insurance, and is regulated by the FSC, where the rule is we cannot sell investment without life insurance.
That is a personal choice which is very good, however, you can have a policy with a small amount of insurance and a lots of investment.

Why should I choose Guardian Group?
You would be choosing Karlene Vaughan as well, where my service is impeccable, which includes continuous communication, along with annual reviews.

 

Need to talk to an agent to get an idea what would be right for you contact Ms. Vaughan  t: 876-927-4105 ext.4023| f: 876-968-0176 | c: 876-579-4852 karlene.vaughan@myguardiangroup.com

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