falcon insurance services Savings & Bonds

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These are individual Plans to protect your loved ones, their dreams and your retirement dreams. A life insurance policy may help your surviving spouse maintain his or her standard of living. It is a plan to provide education to your children, even if you are not available to do so.

Any cash value that a savings policy accumulates can help to supplement your retirement income. It helps to plan for the unexpected events over which otherwise we have no controls.

Endowment Plans
Savings plans,
Retirement Plans.
Mortgage protection plans.
Unit Linked Wealth Funds and Single Premium Bonds

Group Life Insurance Plans

Group life insurance is provided as part of a complete employee benefit package. The cost of group coverage is considerably less than what the employees or members would pay for a similar amount of individual protection.

Group Life Insurance helps employers to protect their employee's family if an employee dies whilst in service. It is a simple way in which employers can help their employees prepare for the unexpected.

In the event of a premature death or disability, the policy pays a lump sum benefit. The policy can also provide a pension for the employee's spouse or other dependants, ensuring a flow of income.

Choice of benefits offered - lump sum or as a pension.
Ability to choose which categories of staff is covered. You can include all employees or specific categories such as those of a certain staff grade.
A simple set-up procedure with no forms or medical histories required if benefits do not exceed our generous Free Cover Limits
Advantages of Group Life plans : Death or disability by “any cause” is covered , Worldwide , 24 hours including annual leave. Members are automatically covered up to Free Cover Limit without medical questionnaires.
Benefits covered :
1. Death by any cause.
  Amount equal to sum assured is payable on death due to accident or sickness, sum Assured can be in multiples of salary (12/24/36) or a flat amount.
2. Permanent Partial Disability (Due to Accident or Sickness)
  Due to Accident or Sickness – a % of sum assured payable as per scale.
  Age limit: Accidental injury before attainment of age 65; sickness disability before age 60.

Regular Savings Plan (RSP) This is a Plan for your Retirement, or for your Children’s bright future

What is a Regular Savings Plan?

A Regular Savings Plan is taken out for a specific term and for a specific purpose, usually as final support for your future and for your family’s protection. Put simply, it is a disciplined savings plan in which you agree to save a certain amount each month for a specific period of time. By paying small amount regularly, you save up a capital sum assured, which is guaranteed to be payable on the maturity date.

This capital is then available to you at a chosen point in time. For example after retirement, when your sources of income reduce but your expenses don't. From medical costs to children's education expenses, all seems to be unaffordable. With regular savings plans you meet such savings targets comfortably and securely. In case of death the sum assured is payable to the family immediately and protects them from a financial crisis.

Do I need a Regular Savings Plan?

To determine if you need savings and life insurance ask yourself these questions: Does a loved one depend on my income? What happens to my family needs in case my income ceases? Do I need to plan for my child's college education costs, or a housing loan mortgage payoff? What will be my income after retirement? Or, in the case of business: If my business partner dies would I be able to still fund the company or buy up their shares?

How it works?.

You pay small installments of premium regularly for a number of years. When the policy matures it enables you to use the maturity proceeds in many ways.

How does it help in wealth creation?

Life insurance is a valuable investment when it comes to wealth creation and transfer. With this type of life insurance, as long as the premium is regularly deposited, the sum assured is guaranteed either upon maturity or in case of untimely death. When you pay the first installment of premium, an “estate is created worth the sum assured” , with the deferred premium dues payable in future.

How does it act as a Family protection Plan?

Besides being a savings plan, it also acts as a highly reliable safety net for your family in case something happens to you. This will give your family easy access to cash that can be used almost immediately to pay bills.

What is Bonus?

Insurance companies do not pay interest, but allows a profit share. The Regular Savings Plan is ideal because it gives you the incredible benefit of a reversionary bonus which enhances your life cover and your sum assured, every year. Bonus are non-guaranteed and are based on the company's performance and is added annually to the policy value. However, once added, these bonuses cannot be taken away and will belong to you when the policy matures.

How do I plan for such savings?

There are different types of life insurance plans and they vary depending on how much insurance you can afford (your income and your objectives); how much of a risk you are (based upon age and health- also called "underwriting"); how much you want to pay and when (the premium dues).

Premiums can be paid in affordable manner monthly, quarterly, half yearly or annually. A single premium option is also available.