LIFE INSURANCE
Peace of Mind with Life Insurance
Build a strong foundation for your financial plan with APS Bank. The life insurance provides financial security to your family after your passing, by protecting your financial resources.
What is Life Insurance?
Having a solid life insurance plan is a benefit for your family, since cash will be provided to them after your demise. This cash (the death benefit) replaces the income you would have provided, this means that your family can still meet important financial needs. Such examples include:
- Paying your home loan
- Running the household and
- Paying for your children’s education
By having a solid life insurance plan, you can be sure that your dependents are not burdened with debt. Additionally, with the current legislation, life insurance benefits are not taxable.
Our Investment Advisors will assist you throughout this process.
How much life insurance do you need?
Choosing a life insurance product is an important decision that needs to be thoroughly thought out.
You need to determine the following:
- How much will be needed at death to meet immediate obligations?
- How much future income is needed to sustain the household?
The first category is fairly easy to estimate. It's the sum of final expenses (including uncovered medical costs, funeral expenses, and final estate-settlement costs) and other lump-sum obligations (such as outstanding debts, mortgage balance, and college costs).
The second variable is a bit trickier. It involves calculating the "present value" of future needed cash-flow streams. By contacting one of our professional financial advisors, you can get a more accurate and detailed analysis according to your personal requirements and evaluate your specific situation.
Choosing a life insurance product is an important decision, but it can be complicated. As with any major purchase, it is important that you understand your family's needs and the options open to you.
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Approved and issued by APS Bank plc, APS Centre, Tower Street, B’Kara BKR 4012. APS Bank plc is regulated by the Malta Financial Services Authority as a Credit Institution under the Banking Act 1994 and to carry out Investment Services activities under the Investment Services Act 1994. The Bank is registered as a Tied Insurance Intermediary, under the Insurance Distribution Act 2018, for IvaLife plc and Mapfre MSV Life, also regulated by the MFSA under the Insurance Business Act 2018. APS Bank plc is enrolled to carry out such services in Malta. Terms and conditions apply and are available on request.
