What is life insurance or risk insurance?
“Risk insurance” is another name for life insurance – a predetermined lump sum set aside for your family, or for other beneficiaries you have indicated on the occasion of joining the insurance, to be paid out in the event of your death. In the first year, a death resulting from suicide will not be covered.
The purpose of the insurance is to maintain the beneficiaries’ living standards, make up for their loss of income and contribute to their financial stability, in the event of the death of one of their principal providers. The insureds themselves will not enjoy that money, but they will enjoy the knowledge and sense of security of having been able to financially provide for their near and dear ones even after their passing.
At what amount should I purchase my insurance?
There are a lot of variables you have to consider when you decide on the insurance’s amount. The amount has to allow the beneficiaries financial wellbeing and maintain an optimal standard of living for them. Parameters taken into account are, for example: The family members’ medical condition, the amount of the principal providers’ monthly income, whether the insured is a sole provider, whether there are young children for whom the remaining parent has to go on providing for many more years, what standard of living the family has been accustomed to, et cetera.
What is mortgage life insurance?
Like risk insurance, mortgage life insurance is an insurance policy for the event of death, intended to secure the payments of mortgage to the bank. It will guarantee that, after your passing, the mortgage will be paid in full and your family members will not have to go on bearing the payments to the bank.
Risk insurance and mortgage life insurance at Kali
While it’s always strange to plan what happens after your demise, it’s not something you should disregard either. Kali’s experts will create for you a personalized policy taking into account all the parameters to provide the most important people in your life with financial stability and financial peace of mind.
Understanding the bigger picture
What happens during a meeting at Kali? First, we’ll meet with you and gain an understanding of two important things before we create your life insurance policy.
The first is the personal aspect: Who are you? Who are the policy’s beneficiaries and what are their ages? What is your standard of living and that of your family? And other important questions which will help us understand your personal snapshot.
The second is the financial aspect: We’ll gain an understanding of the bigger picture of your income, what your current income level is and what level of income your family can expect in the event of your death. We will ask such questions as: Will the family have a remaining provider after your passing? Are there additional sources of income or assets? We will take into account all parameters which help us assess your current and future financial snapshot.
We will plan a personalized life and risk insurance policy for you according to your changing needs. Kali works with all of Israel’s large insurance companies, and we will accordingly provide you with a recommendation and strategic plan personally customized for you, rather than one in service of the financial interest of any specific insurance entity.