Our Insurance Services
This comes in two forms: Decreasing Term Assurance and Level Term Assurance
Decreasing Term Assurance
This is generally the cheapest form of life cover. The amount of life cover reduces throughout the term of your policy, this type of insurance is often used for repayment mortgages where the debt also reduces over the term of the mortgage. Therefore, there will be no further pay out from the policy at the end of the policy term.
Level Term Assurance
This is more expensive as the amount of life cover stays the same throughout the entire term. This will give you the same amount of cover throughout the life of your policy. This type of cover is often used for interest only mortgages and is often used to protect the family should a partner/spouse die whilst the children are still dependent on their parents. The cover guarantees that in the event of your death a lump sum will be paid out. Level Term Assurance is commonly used to provide family protection.
Critical Illness Cover
As medicine advances more and more of us are suffering and surviving a critical illness rather than dying. The five main illnesses that were claimed for in 2020 were as follows:
Children's Critical Illness
Typically Critical Illness is used to provide a lump sum on diagnosis of a specified critical illness. This can be used to reduce or pay off your mortgage in full, or it can provide financial support to your family whilst you complete your rehabilitation.
According to Cancer Research one in two people born after 1960 will be diagnosed with cancer at some point in their lives.*
The range of critical illness cover varies so we recommend you speak to one of our highly trained and knowledgeable team of Advisors.
Should you be unable to work due to illness, Income Protection pays you a monthly tax-free income, usually 60% of your normal monthly salary for a specified period of time. This benefit can be claimed for by employed and self employed policy holders.
Is your “rainy day” fund sufficient to ensure that you can continue to pay all of your bills should your monthly income cease?
If it is not, then we recommend you speak to one of our Advisors.
Value Added Benefits
As part of a life insurance policy insurers are now offering a wide range of Value Added Benefits to help policy holders and their immediate families to manage their health and wellbeing. These are often included free of charge and include things like:
24/7 access to online GP services from anywhere in the world
Second Medical Opinion services
Mental Health support
Whilst nothing is mandatory it makes sense to review each life cover element to see if it provides suitable protection to your changing needs.