When planning for your family’s future, you may not be able to imagine a time when you are not present, however in order to truly protect your loved ones, it is important to consider life insurance.
Life insurance gives you peace of mind, knowing that in the event of your untimely passing, you are still able to contribute to your family’s financial stability.
Life insurance policies in Israel are term policies. Whole of life plans in Israel are no longer available. Whilst there are various types of plans available in Israel, all policies are linked to the Cost of Living Index (Madad). For example, if you have a lump sum type policy and are insured for 1,000,000 NIS today, and over the course of the next 30 years the Cost of Living Index has increased by 20%, the sum insured will also increase by the same rate to 1,200,000 NIS.
Olim Chadashim who have existing life insurance policies from other countries should consult with one of our experts about the benefits of maintaining the policy before cancelling it prior to Aliyah.
It is highly recommended that anyone maintainting an existing policy from abroad, receives written confirmation from the insurer that the coverage will continue once resident in Israel.
Goldfus Insurance takes no responsibility for changes in Israeli legislation that may alter the accuracy of the above information. For clarification of any changes, please contact us.