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Life insurance, can you afford not to have it?

Date: 19-04-2018

Life insurance, can you afford not to have it?

 

A life insurance policy from Citadel Insurance has a variety of purposes and benefits. You may take out a Savings Plan to safeguard your future plans and vision, to secure your personal or business loans, or simply as life cover which can be complemented with optional add-ons to protect you from unexpected events. When you or your partner are responsible for securing your family’s financial well-being, a life insurance policy is essential for your dependents to continue living the life you had always intended for them.

Keeping up with the growing cost of living, the lifestyle your family have been enjoying may become difficult when the security of your family was not thought of at an early age.  When income of a family is abruptly interrupted due to the demise of the income earner, it is at this point that one wonders how the family could carry on without adequate security of a life insurance policy. You will have heard the saying that "life goes on", nowhere is this more true than with family financial commitments.

Additionally, life insurance is an effective way to protect your business, and depending upon the type of insurance, this cost of protection can be tax deductible. It is an essential cover for business partners to insure against the financial loss that might result from a partner's demise, by providing the finance to purchase ownership of the entity.  In the case of Key-Man insurance policies, the aim of the life cover is to provide the funds required for the replacement of key employees.

Lastly, proceeds received from a life insurance policy can be used to pay unexpected taxes on inheritance, as well as funeral expenses. These costs have to be met immediately on winding-up the estate, and could be a financial shock to the family. Holding the right life insurance will ensure that family businesses and other assets remain intact and protected for your family, even if you are gone.

To find out more about Life insurance or Savings Plans, get in touch with Citadel Insurance today and see how you can save costs on your existing life insurance premium for loan facilities, business protection or simply for protecting your family.   Contact us to check how you can switch to our life cover and how you may benefit from our fantastic prices, even though you may have only just purchased your life insurance.

Citadel is regulated by the MFSA and offers a full range of quality insurance solutions including home, motor, marine, travel, health, life and business. For further information visit one of Citadel’s branches in Haz-Zebbug, in-Naxxar, il-Mosta, il-Gzira, San Gwann, Paola, iz-Zejtun or Victoria Gozo; Citadel's Head Office at Floriana; log onto our website www.citadelplc.com or call on Freephone 8007 2322. You can also download our mobile app for rapid access to information.

Casa Borgo, 26, Market Street, Floriana FRN 1082, Malta

Tel: (+356) 2557 9000

Fax: (+356) 2557 9550

Freephone: 8007 2322

        

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E-mail info@citadelplc.com  
Branches: Il-Gzira, Il-Mosta, In-Naxxar, Paola, Haz-Zebbug, San Gwann, Iz-Zejtun, Victoria - Gozo




Citadel Insurance p.l.c is a company authorised to carry on general and long term business of insurance and is regulated by the Malta Financial Services Authority.