Matthew Naranjit Insurance Advisor

For young women! It is important to start thinking about your financial situation early. The link below is a wonderful short read about early financial planning.

https://www.instagram.com/p/CciRsBPPIqj/?igshid=YmMyMTA2M2Y=

Making the right choice might be easier when compared side by side.

👉For more information, set up a free consultation with yours truly, Matthew Naranjit Sales Representative at Pan-American Life Insurance Company Trinidad and Tobago.
👉Mobile/WhatsApp: 798-1652 or 750-6826
Email: [email protected]

Term insurance is the simplest and purest form of life insurance. It’s a policy that provides coverage for a specific term or period. It provides financial protection to your family at the most affordable rates. With term insurance, you can get a large amount of life cover at a relatively low premium rate. The benefit amount is paid out to the beneficiaries in case of death of the person insured during the term of the policy.

Key features/benefits:

Guaranteed death benefit for the term period.

Low premium rates

Used to secure assets

Level premiums

Secures insurability at a young age

Can be converted to a Whole Life policy

It is important to note that when a Term Insurance policy matures, the policy will return NO cash to the living insured unless otherwise stated in the policy. You are effectively “just” paying for insurance.

👉For more information, set up a free consultation with yours truly, Matthew Naranjit Sales Representative at Pan-American Life Insurance Company Trinidad and Tobago.
👉Mobile/WhatsApp: 798-1652 or 750-6826
Email: [email protected]

When determining an individual’s premium cost, an insurance company considers numerous associated risk factors. This is called the cost of insurance and it can vary from individual to individual.

A fact that stands out to me as an agent is, yes insurance is paid for with money, but it is primarily bought with AGE and HEALTH.

👉For more information, set up a free consultation with yours truly, Matthew Naranjit Sales Representative at Pan-American Life Insurance Company Trinidad and Tobago.
👉Mobile/WhatsApp: 798-1652 or 750-6826
Email: [email protected]

👉Know the difference! The cash and surrender values of a policy may not be the same. The surrender value has charges built into it. Insurance policies are meant to be a longer-term financial instrument, hence these surrender charges diminish over time. It is possible for the surrender value to equal the cash value of a policy.

👉When withdrawing from your cash value, pay attention to the type of withdrawal you are making. Depending on the type of policy you have, it can be a loan (subject to low interest rates) or a cash withdrawal (subject to withdrawal fees).

👉 It is also important to understand that a policy loan is not taken out of your cash value but borrowed against it. The insurance company uses your policy as collateral for the loan because they are not allowed by law to give unsecured loans.

👉If you take a policy loan, interest is added to the balance and accrues whether the loan is being paid monthly or not, putting your loan at risk of exceeding the policy's cash value and causing your policy to LAPSE. This is very important to understand.

👉There is no mandatory monthly repayment of the loan. However, if the loan is not paid back before the insured person's death, the loan amount plus any interest owed is subtracted from the death benefit paid to your beneficiaries.

👉For more information, set up a free consultation with yours truly, Matthew Naranjit Sales Representative at Pan-American Life Insurance Company Trinidad and Tobago.
👉Mobile/WhatsApp: 798-1652 or 750-6826
Email: [email protected]

The grace period is a defined amount of time after the premium is due in which a policyholder can make a premium payment without coverage lapsing. This period can vary depending on the insurer and policy type, typically 30 days.

Once a policy has lapsed, you no longer have coverage. That means the insurer does not have to pay a death benefit to your beneficiaries if you die. However, you may be able to reinstate a lapsed policy depending on how long ago it lapsed. This decision is left up to the company and the insured may be required to prove his insurability (redo medicals).

👉For more information, set up a free consultation with yours truly, Matthew Naranjit Sales Representative at Pan-American Life Insurance Company Trinidad and Tobago.
👉Mobile/WhatsApp: 798-1652 or 750-6826
Email: [email protected]

The cash value is the portion of your whole/universal life insurance policy that earns interest and may be available for you to withdraw or borrow against in case of an emergency

This sum grows on a tax-deferred basis, so no taxes are owed on current earnings or interest.

The surrender value is the cash amount offered to the policy holder by the insurance company upon cancellation of the contract.

The cash value and the surrender value of a policy may NOT necessarily be the same. It is important to know the cash and surrender values of a particular policy before you terminate the contract.


👉For more information, set up a free consultation with yours truly, Matthew Naranjit Sales Representative at Pan-American Life Insurance Company Trinidad and Tobago.
👉Mobile/WhatsApp: 798-1652 or 750-6826
Email: [email protected]

This coverage is designed to provide financial assistance when serious illness strikes.
👉Our critical illness insurance pays a lump sum benefit upon diagnosis of a covered illness.
👉We mitigate the emotional and financial stress for 20 areas:

Cancer

Heart Attack

Stroke

Renal Failure

Coronary Artery Bypass Bypass Surgery

Heart Valve Surgery

Paralysis

Third-Degree Burns

Parkinson’s Disease

Multiple Sclerosis

Motor Neuron Disease

Traumatic Brain Injury

Loss of Speech

Loss of Limbs

Loss of Hearing

Coma

Blindness

Alzheimer’s Disease

Organ Transplant

Benign Brain Tumor

👉For more information, set up a free consultation with yours truly, Matthew Naranjit Sales Representative at Pan-American Life Insurance Company Trinidad and Tobago.
👉Mobile/WhatsApp: 798-1652 or 750-6826
Email: [email protected]

Or just leave a comment.

In a nutshell, it is a contract between an individual, called the Insured, and an insurance company where the company promises to pay a certain sum of money to the insured’s family in the event he/she were to pass away during the agreed-upon policy period. Typically it runs for the entire life of the individual.
Whole Life Insurance is guaranteed to remain in force for the insured’s entire life or to a maturity date ONCE the premiums are paid.

This type of policy usually has two primary benefits:

A guaranteed death benefit

A Cash Value


The death benefit payout is income-tax free. Also, the cash value grows on a tax-deferred basis.
Other benefits can be added to this type of policy known as “riders”.

👉For more information, set up a free consultation with yours truly, Matthew Naranjit Sales Representative at Pan-American Life Insurance Company Trinidad and Tobago.
👉Mobile/WhatsApp: 798-1652 or 750-6826
Email: [email protected]

A wise man once told me, change the way you see things, the things you see change.
It’s time you change the way you see your family’s protection.