bencarter@caravelglobal.com
Executive Office Center La Sabana, San José Province, Costa Rica
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Insurance protection

Medical Insurance
You’ve moved abroad, so now you need to ensure you and your family protected as you were back home.
Many insurers and banks in your new location will offer you comprehensive local medical insurance packages. If you have a more international life, travelling regularly, we can provide you and your family with first-world coverage globally.

Life Insurance
Life assurance can be a simple answer to a very difficult question, “How will my family be affected financially when I die?” This is a subject none of us really want to think about, but if we have someone financially dependent on us, it’s one we really can’t avoid.

The purpose of life assurance is to pay a lump sum benefit after you die, providing your loved ones with financial security should the unthinkable happen.

Stages of Life
As we progress through life, we may need life assurance to address the changing risks our families may face. Here are some examples of when life assurance may be important or necessary.

Single:
  Most single people don’t have any financial dependants but there are exceptions. If you’re supporting parents or siblings; or carrying significant debt you wouldn’t want passed on to family members, you should consider life assurance.
Protection
Couples:  Many families depend on two incomes to make ends meet. If you died suddenly, would your spouse or partner have enough money to cover your funeral costs, credit card balances, outstanding loans and daily living expenses?

Raising Children: 
Raising children is tremendously rewarding but can also be tremendously expensive. If you died tomorrow, would your spouse or partner be able to financially provide your children with the opportunities you had planned for them?

Considering life assurance for a nonworking spouse can be just as important as insuring the breadwinner of the family as they perform important functions that would be expensive to replace such as raising the children and running the household. Single parents need to consider life assurance more than anyone else as their children are so critically dependant on them.

Servicing A Mortgage
For most people, the family home is their most significant financial asset and their mortgage is their most significant liability. If you have a mortgage, consider life assurance for the value of the mortgage to provide your family with the security of a fully paid home if the worst should happen.

Approaching Retirement
Once your children are on their own and your mortgage is paid off, you may no longer need life assurance. If you died today, your spouse could potentially outlive you by many years. Consider whether they would have to make drastic lifestyle adjustments to make ends meet and whether you have adequate life assurance cover in place to ensure they avoid financial struggles in retirement.

Estate Taxes
The governments of approximately 40 countries levy some form of death duty, estate duty or inheritance tax on the estate of a deceased citizen or taxresident, which must be settled by that person’s beneficiaries. Life assurance is often the most cost-effective solution to help a family pay these taxes.

Consider whether your family is exposed to this potential liability and whether life assurance could be the solution to help them avoid having your estate broken up to pay the taxes due.