Life Insurance / Family Protection

Life insurance – also known as family protection insurance – is a type of insurance which is designed to protect your family from the worst should you pass away. Money can’t stop grief, but it can remove additional financial stress at a tragic time in your family’s life.

Family protection insurance is a life insurance which pays out a lump sum or specified income on the death of the policy holder. This gives a financial buffer to your family members, giving you the peace of mind that they are free from financial strain. A family protection policy could pay for tuition fees, or pay off a mortgage.

You might feel the added need to take out life insurance when you buy a home, become a parent or become a grandparent. Losing someone close to you can also act as a wake up call to remind you to invest in family protection insurance.

Health Insurance

Your family is the most important thing in your life, so it is your natural instinct to give them the best.

A family health insurance policy will provide you with peace of mind should you or a member of your family fall ill. The policy will provide fast access to medical treatment where they will receive the best care, with no need to wait for a GESY appointment / treatment.

Educational / University / College

Many parents want to help their children attend college without accruing debt, and they know that it’s best to start saving early to achieve this goal. They understand the benefit of a college education not only in terms of personal growth but also in earning potential, career opportunities and financial stability.

Education (Child Education) Insurance Policy is an insurance coverage plan specially designed for a saving tool to provide an amount of education cost when your kids reach 18 yrs or above to enter into college.

Retirement Fund

It can be hard to have enthusiasm for your pension if retirement seems a long way off, but if you leave it too late you may leave yourself with too little savings to live on in your retirement. It pays to start investing for your future as soon as possible.

An individual personal pension is imperative to ensure you are financially secure in your retirement. If you consider yourself too youthful to be thinking about a pension and feel that you will think about a pension when you take up knitting – think again. Take advantage of the tax relief as soon as possible!

Investment and Capital Formation

Unfortunately life is full of unforeseen events which usually lead to an immediate need of money.

Tax Relief

As you may know, the Tax regime in Cyprus allows you to claim the 20% of your gross income as deductible if used for Social Insurances, Gesy, Life Insurance etc. Therefore, the premiums can be tax deductible (restricted to 7% of the insured amount).