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Life Insurance

Endowment Insurance

Saving up money is an important part during our lifetime. There are many reasons we choose to do this, for example, we save for our families security should any sudden deaths occur, you save up for old age so you have a lump sum saved when retiring and more. We each have our own reason for saving money. It is a fact that it is never easy committing to saving up money.

We can choose to save money either at the bank or also at an insurance company. The advantages at an insurance company surpass those that you have at a bank when saving money. There are three important factors to consider: 1. At an insurance company there is a monthly payment, insuring you won’t forget or lose interest in securing for your future, unlike a bank that leaves these matters up to you if and when you want to add money.

2. While at the insurance company should you pass away during the term stipulated on your policy your family would receive the full-insured amount even though the end of the term has not been reached. Unlike a bank which would only give you the cash and accrued interest.

3. All insurance companies have a higher

The Endowment Insurance let’s you choose the sum you want to be insured for should you pass away during the specified term of the policy. It also allows you to save and should the end of the term arrive and no death has occurred, a lump sum shall be returned to yourself.

Term Life Insurance

Term life insurance offers security to your family in the case of your untimely death. This insurance only covers loss of life. If you reach the end of your policy term and you are still living no money is offered.

This insurance is mostly used when home loans are taken out. If you have a twenty (20) year mortgage and you have a twenty (20) year term on your insurance it secures you in knowing that should you pass on your family will get the insured sum in order to cover the financial burden. Normally in this insurance the beneficiary of this sum is assigned to the bank you took the loan from.

Burial Insurance

This insurance is essential for every family. Everything must come to an end. A funeral nowadays can be an expensive cost, burial insurance helps with this by allowing you to pay for it with a low monthly sum. Our responsibility is to our family and ensuring that when the time comes no added financial burden is given to them because of a funeral.

Some of the benefits that burial insurance offers are:

• Children under the age of 18 are insured with their parents for free.

• Freedom to choose whichever funeral home.

• You decide the payback period.

• You decide the insured sum.

Pension Insurance

Starting the 1st of January 2012 the Aruban government introduced the obligatory pension law. This law stipulates that the employer has the obligation of securing a pension contract for all their workers. This law guarantees that when we retire we have an income, with which we can continue on living our lives, without any financial worries because our regular income has stopped.