“How will my wife cope for cash when I am gone?“
Protection – Our Natural Instinct
Almost all animals protect their young from dangers. An interesting example is the Cichlid fish (one of which is the common Tilapia). Both the male and female take turns to fan their eggs with their fins from above so as to increase oxygen flow for better egg development and to prevent fungal spores from growing on them. They also eat the unfertilized eggs to prevent contamination for the healthy ones. After the young hatch, the parents continue to care for and protect them. When there is a threat from a predator, they will suck the young into their mouth until the danger is gone. Such wonderful devotion!
Structure of UProtect
With UProtect, your beneficiaries are completely protected when you execute a trust deed stating your instructions and transfer your insurance policy(s) to us by way of assignment.
As your Trustee, we assure you that your insurance proceeds are:
- Protected and readily available for immediate usage
> As the insurance is not part of your estate, there is no need to wait for the extraction of Grant of Probate or Letters of Administration.
- Used to finance education needs, living and medical expenses of your beneficiaries
> Your loved ones will still enjoy life like how it is now; even when you are no longer around.
> Should there be a claim for disability or major illness, you will be able to receive the insurance proceeds for your living and medical expenses.
- Paid to your loved ones the way you choose
> You decide who shall receive from the Trust as well as how and when they can receive the monies.
> You can also include substitute beneficiaries to replace those who are unable to receive.
- Avoid the limitation placed by the insurance nomination law
> You are no longer restricted by the conditions placed in the insurance nomination laws.
> You can name any person or organisation to be your beneficiaries in the trust.
Before you set up a trust, you need to be aware of anti-money laundering regulations.