The Salvation Army constantly faces the challenge of finding new income streams to ensure the support that is provided to individuals and their families can continue and be expanded upon through their extensive social welfare network.

The Salvation Army is pleased to announce its partnership with Charity Life.  Charity Life is an Australian first in the life insurance industry.  It is a life insurance policy that is not only genuinely affordable for the long term but also provides a significant donation to charity – for free.

The challenge
The need for life insurance is easy enough for all to see.  It offers the peace of mind that loved ones will be protected financially should the worst occur.  Unfortunately with traditional life insurance policies the cost of such protection can often only be afforded for the schooling years, or at a level that is not really adequate for the families’ needs (not only must the mortgage be paid but the main money earner’s income must be replaced).  For those people who want a life insurance policy that would properly protect their loved ones it is not always possible due to the cost of the premiums.

The vast majority of life insurance policies are sold with ‘stepped’ premiums.  This means that as you get older it becomes more and more expensive to maintain the insurance.  For most people they simply get ‘forced out’, no longer able to afford the cost of the policy – even though they may be entering the period of their life when the insurance is most relevant.

The solution
Fixed premiums offer an alternative to ‘stepped’ premiums and as the name suggests they stay the same for the life of the policy, in theory they don’t go up with your age.  A number of insurers offer fixed ‘level’ premiums but reserve the right to raise the fixed level at their discretion and sadly they often do.

Charity Life offers a premium that is guaranteed fixed ‘level’ – whatever the cost of the premium when you take out a policy between the ages of 18 and 65 it will not increase.  This genuinely gives people the chance to own a life insurance policy for the long term and benefit from the peace of mind that is associated with planning correctly for the unexpected.

Giving more
Lakeside Consultants has been involved in the insurance industry for nearly 20 years, and during this time we have developed an association with charity groups.  We knew it was possible that our company could do more.  Along with TOWER Australia, one of the country’s foremost insurers, we have spent the last two years developing Charity Life – a life insurance policy with a major difference.  Charity Life allows its policy holders to make a significant contribution to the community via a free donation.  What was crucial to us during the whole of the development process was that the premiums should be some of the most affordable in the market - guaranteed fixed ‘level’ was the only way to go.

The dual benefit
The most exciting thing about a Charity Life policy is not just the reassurance that guaranteed ‘level’ premiums make the policy affordable, but also the knowledge that should a claim ever be made, The Salvation Army will automatically receive a significant donation made in the policy holder’s name.  The Charity Life solution is different because just by protecting your loved ones you are also able to leave a substantial legacy to an organization that provides support to people in need.

We believe that it makes sense and we have made it really easy by ensuring that:

• The donation is automatically made on your behalf
• The donation is made a NO extra cost to you or the recipient
• Charity Life and TOWER will share the cost of the donation
• Your beneficiaries will receive their FULL entitlement

The difference you can make
The following table highlights the size of donation that will be made in relation to the sum insured:

It is really important to understand that if you are a Charity Life policy holder and a claim is made, your dependants will receive their entire amount due under the policy.

Further information
For more information you can speak to Ross Hennig or any member of the Lakeside team on free call 1800 869 888.  You can also visit www.charitylife.com.au or email info@charitylife.com.au.

Charity Life is a registered business name of Lakeside Consultants Pty. Ltd.  In total there are ten partner charities allied to Charity Life and policy holders have a choice of which charity they would like to nominate at the time the policy is taken out.  TOWER Australia is the insurer and they are a leading provider of financial services in Australia.  They have been named Smart Investor’s Risk Insurer of the Year 2007 and Money Management’s Risk Company of the Year in 2006 and 2007.