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!
As parents, you too would protect your children. For example, you may purchase insurance so that in case something happens to you while they are young, there will at least be cash to provide for their needs. If you have taken insurance, chances are, you may think that you have done enough in providing security to your loved ones by nominating them as your beneficiaries in your insurance policies. Think again.
Are your loved ones completely protected when you nominate them as beneficiaries in your insurance policies? Is that actually enough? You may want to consider:
You can prevent these problems when you create a UProtect insurance trust with Rockwills Trustee Berhad.
Do you know that trust is an extremely effective Estate Planning tool to protect your assets and to pass wealth to your heirs efficiently whilst maintaining privacy? You can continue to have control on how the insurance proceeds are distributed even when you are no longer around.
This applies to Muslims and non-Muslims as provided for under the Financial Services Act 2013 and the Islamic Financial Act 2013.
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: