Atlas Life Insurance

Atlas Life Insurance Documents

Who is Atlas Life?

Atlas Life, based in the Seychelles, is a global insurance provider that caters to expatriates and globally mobile citizens in over 130 countries. They collaborate with two of the largest reinsurers in the world, namely Swiss Re and Reinsurance Group of America.

What solutions do they offer?

Atlas Life offers term insurance which pays to your beneficiaries if the policyholder passes away or is diagnosed with terminal illness during that time term period. Additionally, they provide various sub-options, including:

• Critical illness: This option offers a lump sum payment if you are diagnosed with one of the covered illnesses specified in the plan.

• Disability: In the event of disability resulting from an accident or incident, a lump sum is provided.

• Terminal illness: If you are diagnosed with a condition where you have a life expectancy of 12 months or less, Atlas Life pays the life coverage upfront.

• Index option: This allows you to increase your coverage by 5% annually to account for inflation.

• Medical second opinions: Atlas Life offers a free benefit where you can obtain a second opinion from a panel of experts if you have been diagnosed with a serious illness.

• Estate planning: Atlas Life assists in setting up life insurance policies that can cover estate duties and mortgage settlements, among other financial aspects.

The recommended amount of life insurance generally depends on factors such as your financial obligations, income, and future needs. As a rule of thumb, it is often suggested to have coverage that is equivalent to 5-10 times your annual income. However, it's important to evaluate your individual circumstances and consult with a financial advisor or insurance professional to determine the appropriate amount of coverage for your specific situation.

What are the key features of Atlas Life?

Atlas Life offers several advantages, including:

• Policies in USD, Euro or GBP

• Fixed, level premiums, that are locked in based on your age at entry

• Portability of coverage when moving between countries

• Quick and easy setup and administration processes

• A solid track record of claim payouts.

• Coverage available in numerous locations globally

• Emphasis on income protection and estate planning, going beyond traditional life coverage

• Acceptance of both local residents and expatriates

• A well-established company that combines boutique service with extensive experience in the expat market

• Group insurance options for groups of 10 people or more, often resulting in group discounts

Is life insurance necessary?

Life insurance is legally required in some situations, such as when securing a mortgage or fulfilling child support obligations, but these requirements may vary by country.

While there is demand for life insurance in various areas, many individuals question whether they are overspending on insurance.

Term life insurance is generally recommended, especially for individuals with dependents or those planning to have children. However, it's important not to go overboard with insurance as it represents an expense in the absence of an adverse event.

The amount of coverage needed typically depends on factors such as:

• The amount of debt you have

• The financial burdens your family would face if you were to pass away

• The liquidity of your assets, as certain assets like housing or businesses may be more challenging to sell compared to liquid investments.

• Your age and the period of insurance required

What about business coverage?

Atlas Life also offers benefits in the following areas:

• Keyman insurance: This type of insurance protects against the financial impact caused by the death or illness of a key director or person crucial to the business's operations.

• Loan protection: For businesses reliant on loans or start-up funding, loan protection coverage guarantees repayment to the lender. This is similar to the requirement for life insurance when securing a mortgage or child maintenance.

• Partnership protection: This insurance safeguards against the sudden death of a partner in a business. It provides a lump sum payout to the remaining partners in situations where claims may arise or the business may be affected.

• Shareholder protection: Shareholder protection insurance, when combined with a legal agreement, ensures that surviving shareholders have the necessary capital to purchase shares from the deceased shareholder's estate.

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