What is life insurance?
Life insurance is a financial safety net that ensures your loved ones (beneficiaries) receive a designated amount upon your passing. It provides peace of mind by helping them cover essential expenses, such as funeral costs and outstanding debts, while offering long-term financial stability and security for their future.
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Do you have questions about life insurance, youth life insurance, critical illness insurance or mortgage insurance? You've come to the right place. We have an FAQ that answers commonly asked questions.
Belvee FAQ
Life Insurance FAQ
Life insurance is a key element in protecting the financial future of your loved ones. It ensures that, even in your absence, your loved ones will have the resources they need to maintain their quality of life. Discover below the answers to the most frequently asked questions about life insurance.
What is life insurance and why do I need it?
Life insurance plays a crucial role in ensuring that your loved ones will have the necessary resources to maintain their quality of life, even in your absence. It’s a reassuring solution to secure their financial stability.
How much life insurance should I get?
The ideal amounts depends on many factors such as your revenue, your debts and the needs of your loved ones in the future. An advisor will analyse your case can help you to find the coverage that meets your requirements
Who can be designated as beneficiary of my life insurance?
You can designate anyone as a beneficiary: a family member, a close friend, or even a charity.
What happens if I stop paying my life insurance premiums?
If you stop paying, your policy may be cancelled and you will lose coverage. Some policies may offer a cash value, but this depends on the specific terms.
Is life insurance taxable for my beneficiaries?
Generally, life insurance benefits are tax-free for beneficiaries.
Can I change my beneficiaries after subscription?
Yes, you can change your beneficiaries at any time by contacting your insurer, subject to the terms of the contract.
Get covered in 4 easy steps
Initial consultation
Identify your priorities: family protection, mortgage coverage, or savings. Your advisor can help you determine which insurance best fits your goals. This consultation is your first appointment.
Analysis of your financial needs
A Belvee advisor will analyze your financial insurance needs. This will help you select the type of insurance that best suits you (life insurance, child critical illness insurance, mortgage, etc.) and customize the options according to your needs and budget.
Insurance recommendations and application
Fill out a quote request with a Belvee advisor. We will provide you with a personalized quote based on the information you provide. Depending on the type of insurance, a medical examination may be required. Once the results are analyzed and your file reviewed, we will give you a response. Then, you will receive your quote by email, which will include the amount of the monthly or annual premium, available coverage options, and any specific terms related to your life insurance. If you have any questions or wish to adjust certain elements (coverage amount, additional options, etc.), our team is available to discuss and tailor the quote to your preferences. After approving the quote, you can proceed with the subscription with the help of one of our advisors. Once the documents are signed and the first premium paid, your life insurance will take effect.