Special Events

March 2009

Many of us see insurance as a necessarily evil, but at Stewart Group we always do our best to ensure your dealings with us (and the insurers) are simple, convenient and cost effective.

A case in point is when a ‘special event’ occurs that may necessitate the need for increased Life cover.

Most insurance companies offer special event increases that may include events such as marriage, birth or adoption of a child, taking out a first mortgage or reaching a milestone age eg 25,30,35,40,45 etc.

In business, it might be that you have co-shareholder cover and there is a change in the percentage of shareholdings – and as such, increases in Life cover are needed to reflect those changes.

Whatever the situation, at some point in the future you may find you need to review your Life cover, but you dread the paperwork and just don’t get around to it.

Although there are certain limits and conditions surrounding increasing your cover, they are not too onerous.

Probably the most important, is the option to increase cover must be done within a certain time frame – this could be as little as 30 days from the event occurring and can be carried out regardless of your current state of health and with very little paperwork.

As we can’t keep track of all the ‘special events’ in your lives, we ask that you make a mental note and remember that if you need more Life cover because you are having a baby, getting married, buying a home or increasing your stake in a business – there may be an easier way to do it.