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Saving and investing for the future
Universal Life Insurance
Whole Life Insurance
- Provides a combination of protection and savings.
- Covers you for a set period of time.
- Pays a maturity benefit at the end of the period, or a death benefit if death takes place during the set period of time or you become totally and permanently disabled.
- Provides a flexible combination of protection and investment.
- Premiums are used to buy insurance protection and investment units in a managed fund.
- Price of your units depends on how the investments in the fund perform. What it pays depends on the price of the units at the time of death or when you cash it in.
- The level of death benefit can be more or less.
- A form of 'interest sensitive' whole life insurance that offers within certain limits flexibility in the amount, method and timing of premium payments.
- Pays a death benefit.
- Builds up a cash value which can be borrowed from or withdrawn.
- Cash value earns interest at a rate that may change over time.
- Some plans guarantee a minimum interest crediting rate.
- Covers you for your lifetime.
- Also provides long term savings.
- Pays a 'cash value' upon termination of the policy.
- Pays the benefit including any declared bonuses on your death or if you become totally and permanently disabled.
- Premium payments are payable over your lifetime or for a limited period.
To achieve various goals in a shorter period of time such as buying a new home, sending children to university or saving and investing for retirement, financial planning is required.
Life insurance plans are financial tools to help you save over many years and invest for the future.
An endowment policy serves as a disciplined method of saving regularly.
Investment-linked plans are flexible and can be customised to potentially yield higher returns. Investment come with risks and you need to consider key factors, some of which are:
- Risk profile
How much volatility and risk can you tolerate in your investment should market conditions change? How much funds can you afford to invest and potentially lose after meeting living expenses, medical needs and financial commitments?
- Investment objective
Are you investing to hedge against inflation? Are you investing to grow your capital?
- Time horizon
Your investment time horizon is the number of years you have to invest to achieve your financial goals. The more time you have, the more options you have. Your time horizon would impact how much your savings can grow, what assets you can invest in and how much risks you can take.
Designing a financial plan that works for you
Financial advisers have the knowledge and expertise to recommend solutions that are appropriate for you.
Contact any one of our member companies to put you in touch with a financial adviser.
For more information on saving and investing for the future, refer to the 'The Library' section.
Search our Unclaimed Proceeds page for....
How are investment returns (i.e. interest rates) used in the Benefit Illustration of Participating Products derived? To find out more...click here.
Are You Protected?
Try out our Protection Gap Calculator and see if you have enough insurance to cover your loved ones.