This type of life insurance policy provides a financial payout to your beneficiaries if you, the policy holder, were to pass away within a certain set period of time. This payout may be provided in monthly instalments or as a lump sum depending on the policy holder’s preferences.
Level Term Assurance policies grant your loved ones peace of mind when you can no longer provide for them. It can help ease their financial burdens, such as mortgage repayments, debts, and other household bills.
If the policy holder lives beyond the fixed policy term, they will no longer be covered by the policy, and may need to open a new policy if they wish to remain covered.
Mortgage Life Insurance is often referred to as Decreasing Term Life Insurance, the amount you are covered for decreases over the period of the policy. This type of insurance is often used to cover a debt that reduces over time, such as a repayment mortgage.
In the event of the policyholder’s death, with this protection, your loved ones can pay off your outstanding mortgage.
Family income benefit, often referred to as family income protection, is a type of life insurance . A monthly premium is paid and cover remains in place for a specified length of time.
However, unlike traditional policies that pay out a lump sum, family income benefit provides beneficiaries with a regular, fixed, tax-free income.
Regular income payments run from the date of death, until the end of the policy term, as chosen at the outset by the policyholder. Monthly income payments can replace a lost income and help long-term family budgeting.
This is a type of long term life insurance policy that covers you and your loved ones in the event that you should be diagnosed with a serious illness. This type of cover will provide you with a tax-free lump sum upon your diagnosis to help you and your loved ones keep up with financial commitments.
Critical Illness Cover encompasses all types of serious illnesses, such as a major heart attack, kidney failure, major organ transplant, strokes, a range of specific cancers, and more. There are different types of policies for different critical illnesses, which our experienced financial advisors can help guide you through to choose the right cover.
Income Protection insurance is a long term life insurance policy that covers you if you are unable to work due to illness or injury across a sustained period of time. Income Protection insurance policies provide you with consistent income until you are able to return to work or retire.
Even if you receive sick pay from your employer, the amount you receive may not be enough to cover essential expenses. An Income Protection policy will provide additional financial support to help you while you recover.
Each plan is different, and you can choose how much you want your plan to cover, whether it be for your total income, or just the amount needed to cover household bills and mortgage repayments. Our team of experienced financial advisors will help you find the right cover for your circumstances.
Over 50s Life Cover is a guaranteed-acceptance life insurance policy for anyone from aged 50 to 80 (in some cases up to 85).
This cover does not require you to answer lengthy medical questions and there are a range of affordable premiums available to choose from. Over 50s Life Cover is often cheaper than other types of life insurance, and it is an affordable way to leave behind a lump sum for your loved ones when you are gone.
There are different types of Over 50s Life Cover available depending on your circumstances, we can provide specialist advice to help you find the right cover.
| ‘Proceeds of these policies can be used for payment of, or towards, the cost of a funeral, following the death of the person who is insured. You could pay out more money in premiums than the policy pays out. This policy is not a savings plan and has no cash-in value. Due to inflation, any amount paid out may not buy as much in the future as it would now and may not cover the full cost of a funeral. If you stop paying premiums before age 90, the cover will end, and you won’t be entitled to claim any money back’. |
Whole of Life Insurance guarantees that your loved ones will receive a financial payout whenever you pass away, as opposed to Level Term insurance which only pays out if you pass away during a set period of time.
With Whole of Life Cover, you can personalise your plan with your loved ones in mind and as long as you pay the monthly or annual premiums, you will remain covered.
You can choose whether your plan provides a lump sum or monthly income to your loved ones, and you can set a fixed term payout – i.e. for the length of mortgage repayments or until your children move out. Our team of experienced advisors can help you choose the right cover for your needs.
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