St George estate plan review.
Estate planning may sound like something you only need to worry about if you have an actual estate of sprawling lawns, car garages and housekeeping staff, however, regardless of the amount of money you will leave behind, if you are leaving any loved ones behind, that is when you need to consider an estate plan.
An estate plan takes care of final expenses, funeral arrangements, legal costs and any other bills which might be left outstanding when you die. The result is that no matter what you’ve done or achieved in your life, the legacy you leave behind for your family after your death, remains one of love, support and thoughtfulness.
Features and Benefits of the St George Estate Plan
Having an estate plan does not need to be complicated, with St George you are guaranteed acceptance, and can quickly and affordably ensure that your family’s future without you does not begin with unnecessary financial stress. To set up an estate plan for your family, St George offers you:
- A lump sum benefit amount. The benefit of the St George Estate Plan is paid as a lump sum amount to your nominated beneficiaries, for them to use as they need it at the time. This means your estate plan benefit can be used to pay for your funeral, legal costs and any other outstanding bills.
- A 48 hour payment. In most cases, the benefit payment from your St George Estate Plan will be paid to your family within 48 hours of a claim being submitted. Few people have tens of thousands of dollars on hand to pay for an unexpected funeral and final expenses, and even as we get older, and the inevitable comes ever closer, coming up with the money to cover funeral costs at short notice isn’t usually easy. Therefore, a St George Estate Plan provides quick and easy access to the money your family needs on the spot, and they don’t need to worry about bank transfers, dipping into savings or cashing in investments, when they should be concentrating on dealing with the loss and caring for each other.
- Guaranteed acceptance. If you are a St George customer between 45 and 70 years old, you are guaranteed to be accepted for the Estate Plan policy, and you do not need to take a medical test or blood test to apply. Your partner is also guaranteed acceptance so that you can ensure your family is truly protected no matter what.
- Premiums from just $5 per week. Putting aside $5 each week for your family’s financial security should fit easily into your budget, and if you can stretch to a little more, the Extended Cover policy is $10 per week.
- Fixed premiums. The premiums you pay at the beginning of your policy don’t sneakily increase over the life of the policy to make estate plan cover unaffordable. St George makes sure to fix your estate plan premiums throughout your policy so you don’t pay more as you get older.
- Family discount. If you and your partner apply for estate plan cover from St George together, your partner will be eligible for a 10% discount on the premiums of your policy. So you are securing complete peace of mind and protection for your family, and it is even more affordable.
- Calculated benefit amount. The benefit amount of your estate plan is calculated by St George based on your age when you apply, and your gender. The younger you are at the time of your application, the higher the benefit amount will be when your family make a claim on the policy.
- Free cover. Once you reach 85 years old, you won’t need to pay premiums on your St George Estate Plan anymore, but you will remain covered.
- Worldwide protection. You can rest assured that no matter where you go in the world, your estate plan cover goes with you, so you are covered in the event of a claim 24 hours a day, seven days week.
- Easy payment options. You can choose to pay your premiums by direct debit or by credit card each month, to suit your budget and your financial situation.
- Guaranteed renewable. Your estate plan cover is guaranteed for as long as you keep your premiums current, so your policy is guaranteed to be renewed each year.
- Accidental death cover. In the first two years you hold your estate plan policy, a benefit will only be paid if your death is the result of an accident. In this time no benefit will be paid for suicide either, however, if you die as the result of suicide, or a cause other than accidental death, your beneficiaries will be paid the equivalent of all premiums paid while you held the policy, plus 5%. Once you have held your policy for more than two years, a claim can be made for any cause of death.
- Cash value in your policy. After you have held your estate plan for more than three years, you are able to surrender it for a cash value. The cash value you receive back depends on how old you were when you applied, and how long you have held the policy. The cash value of your policy is never guaranteed, and can vary at any time, for example, a 65 year old man could cash in his St George Estate Plan for a cash value of 27% of the premiums paid after five years, or up to 35% after 25 years.