Insurance
Life insurance
Life insurance is a contract between an individual (the policyholder) and an insurance company. In exchange for regular premium payments, the insurance company provides a payout to beneficiaries upon the death of the insured person. This payout, known as the death benefit, is intended to provide financial support to the policyholder’s loved ones or beneficiaries in the event of their passing.
critical illness insurance
Critical illness insurance is a type of insurance policy that provides a lump-sum payment to the policyholder in the event they are diagnosed with a serious and life-threatening illness or medical condition that is specified in the policy. The purpose of this insurance is to offer financial support to the insured individual during a difficult time, helping cover medical expenses, treatment costs, and other associated expenses.
Keyman / Director Insurance
Key person insurance is a life insurance policy that a company purchases on the life of an owner, a top executive, or another individual considered critical to the business. The company is the beneficiary of the policy and pays the premiums. This type of life insurance is also known as “key man (or “keyman”) insurance,” “key woman insurance,” and “business life insurance.”
jumbo insurance
Jumbo insurance typically refers to insurance coverage for high-value items or properties that exceed the limits of standard insurance policies. This can include coverage for expensive homes, valuable art collections, luxury vehicles, or any other assets with a value that surpasses what standard insurance policies can adequately protect. Jumbo insurance policies are designed to provide higher coverage limits and specialized protection for these high-value assets, ensuring that individuals with substantial wealth can adequately safeguard their investments and possessions. These policies are often customized to meet the specific needs and risks associated with such valuable assets.
