Critical Illness &
Critical Illness & Life Insurance
When you live and work abroad, the financial security of your family and your investments depends on your ability to earn a stable income. If you are unable to work because of an accident or illness, will your salary continue to be paid, or will your family suffer the consequences?
Figuring out your protection gap
The Critical Illness and Life Insurance protection gap is the shortfall in the amount of money you need to meet the financial needs of you and your family if you are unable to work due to illness or if you die prematurely. An initial consultation with one of our advisers will establish important factors such as:
- Are you the sole breadwinner for your family?
- Do you have children?
- Do you have any other dependents such as siblings or parents?
- What investments and retirement provisions do you have in place?
- What outstanding debts, such as loans and mortgages do you have?
- Have you estimated your future expenses, such as education or relocation costs?
- Is there any unnecessary Inheritance Tax exposure?
- What is the cost of your current lifestyle?
Based on your answers, we will be able to advise you if you have a protection gap and how best to bridge it with Critical Illness or/and Life Insurance policies.
Protect Your Savings
In case of a sudden illness or accident, you don’t have to utilise your savings to pay the high price for medical treatment. Surgery and room costs in Hong Kong’s private hospitals can easily reach US$100,000 for major heart disease and cancer. This can be covered by the insurance plan, should you have coverage in place. Your savings should be used for their intended use, such as buying a home, funding your children’s education and retirement.
How much Life Insurance do I need?
Do you have minor children?
Any debts, such as mortgage?
Recommended Life Insurance Cover:
We normally recommend our clients to have 20x their annual income as an optimum amount of cover. This is to ensure your family and loved ones have sufficient funds to maintain their standard of living, if your are no longer around. Using this formula will mean there will be food on the table, your home will not be repossessed and your children can get the education they deserve, if the worst were to happen.
All Health & General insurance products are marketed under the brand name of Lifestyle Insurance, a registered trade name of Platinum Financial Services.
ANDREW CASE STUDYLife Insurance Premium Financing
The Platinum Premium Finance Program (PFP) is a new and unique funding strategy available to US Nationals, as well as non-US persons with a US Nexus. The program allows eligible participants to fund Life Insurance premiums without having to take out a personal loan, provide a personal guarantee or incur out of pocket expenses. The Platinum PFP offers higher sums assured (policy death benefit) than traditionally financed life insurance contracts at a fraction of the cost. Our minimum sum assured starts at US$ 10,000,000.
The cost of quality healthcare is at a premium. We have close partnerships with market-leading international healthcare insurance companies that offer sustainable products making sure that we can match the required level of cover to your budget.
We don’t charge you for our services, so premiums are the same as going directly to the insurance company. What you get is advice on the plan’s benefits and coverage limits that make sense to you and your financial situation.
Don’t leave your financial future to chance.
Contact Platinum Financial Services to help you through your financial journey.
