If you have people who rely on your income or if you have any significant financial liabilities, life insurance can protect your beneficiaries from further financial hardship in the event of your untimely passing. Tenzing Pacific Services helps you get it right — from the type of life insurance to the provider to the amount of coverage.
Lock-in your premiums for the entire duration of your term, which is based on your age at entry. This means your premium will not increase with age, inflation or changes to your health status. Â
Over the years, we’ve built relationships with a variety of international life insurance providers. By not being tied to a single insurer, our advisors can match our clients to a life insurer that best suits their needs and situation, such as:
As part of a greater holistic consulting methodology, your Tenzing advisor will work with you to determine exactly how much life insurance coverage you need, based on your assets, liabilities, final costs and your family’s ongoing and future needs. This data-driven approach makes sure you’re neither under- nor over-insured, allowing for peace of mind should the worst happen.Â
Term life insurance is the most straightforward type of life insurance, where a policyholder takes out a policy for a fixed duration of time, the term. If the policyholder passes away during the term, then the insurer will pay out the benefit as specified. Term-life insurance pays out on death from all causes and usually has options to add on disability, critical illness or higher accident cover.Â
The duration of the term is up to the policyholder and is one contributing factor into the premium in addition to policyholder's age, smoking status, gender, sum insured value and health, among other factors.Â
Term life insurance is different from universal, whole life, or permanent life insurance in that it provides coverage only for a specified amount of time. Once the term expires, there is no cash back element -- the policy is over. For this reason, term life insurance is very affordable.Â
Rather than selecting a specific term, with whole life insurance the policyholder is covered for their whole life. This will guarantee to pay the benefit out so long as premiums are paid and the claim is valid. Payments are still made every year, or can be condensed into a 10-year period. There is no cash back or refund element. Premiums are fixed for the duration of the term, based on your age at entry.Â
Universal life insurance is usually used to generate wealth. With universal life insurance, you put in a lump sum premium upfront and you're covered for 3x that amount. The minimum initial input is $50,000 USD.Â
This is a term life policy, but there is no set term. You just pay the renewal premium every year, but premiums will increase annually based on with age and inflation.Â
For any inquiries relating to our insurances feel free to speak to us during business hours.
Work with a Tenzing expert
No obligations, no fees, no pressure
We will never sell or use your personal information for any reason other than to provide these services.