Protection
Life Insurance is designed to pay out a lump sum to your relatives or other beneficiaries in the unfortunate even of your death, offering peace of mind and financial security at the most difficult of times.
Income Protection
This type of policy is designed to provide an income in the event that the insured individual becomes unable to work due to ill health. The level of premium will depend upon the amount of benefit and term selected and most policies cease to pay the benefit once the insured is able to return to work. Income Protection policies are usually written to retirement age or 60 if earlier.
Accident, Sickness & Unemployment (ASU)
ASU policies were traditionally sold to accompany mortgages, allowing for a regular income to be paid to the insured should they be unable to work due to ill health, an accident or loss of their job. The product can be split down, and unemployment cover is usually the optional extra available for an additional premium. Benefits are only usually paid for a specified time, for example 12 months. It is important to compare ASU and Income Protection closely as one may be more suitable than another. It may also be possible to use the two products to work in tandem with each other.
Critical illness
Critical illness cover provides a tax free lump sum payment should the insured person be diagnosed with a specified critical illness, e.g. some forms of cancer, heart disease and many other serious illnesses. It can also be set up to provide a monthly income if you prefer, rather than a lump sum.
Mortgage Protection
Peace of mind that if the worst happens to you, your family won’t lose their home.
Your Children's Education
It’s never been more important to have money available for your children’s future.
Life insurance also comes in several forms:
- Level term assurance – the sum assured remains the same throughout the term of the policy.
- Decreasing term assurance – the sum assured decreases through the term of the policy. This is usually used to pay off a mortgage or a loan.
- Family income benefit – pays a monthly sum to your dependents for the remainder of the term of the policy.
- Whole of life assurance – covers the whole of your life and pays out whenever you die. Useful for inheritance tax planning or to cover funeral costs.
Not sure what life insurance you need?
Give us a ring on +44 (0) 7902982434 or fill in our ENQUIRY FORM and one of our advisers will give you some expert, no obligation advice.