Life Insurance/Protection Planning - What types of policies are available?

What is Life Assurance?
A policy usually requires a regular premium or one-off payment, Life Assurance policies pay out a lump sum or an income on the death of the person named in the policy. To ensure that you achieve the cover you require contact us for a full review where a financial planning consultant can discuss your specific requirements.

Term Assurance:
This is ideal if you want a policy to run for a fixed number of years - while the children are growing up, for example. It's hard to know exactly how much insurance to buy. Your adviser can help you work out the family's possible needs and make sure they're left financially secure should you die - whilst ensuring you don't pay more than you have to.

Whole of Life:
To safeguard your family with a higher level of protection, you can opt for "whole of life" cover. Some whole of life policies are more flexible than others. It's worth discussing whether you want a fixed lump sum payment, or one which could increase during your lifetime.

Regular Savings Policies:
More commonly known as endowment policies, these pay out an assured sum on death, or a tax free lump sum if you're alive after the final premium.

Critical Illness Cover:
With this form of "living cover", you'll receive an agreed sum either on death or when medical conditions listed in the policy - heart attacks, cancer, etc. - are diagnosed. It is generally offered as an optional extra on life insurance policies.

Income Protection

Permanent health insurance (PHI) typically provides a monthly income during periods of long-term illness or disability. It is also commonly referred to as 'income protection cover' 'disability insurance' and 'income replacement cover'.

Family Income Benefit

Family Income Insurance is designed to provide a monthly income to your family after the death of the principle provider or their partner.

The payments will continue at the value specified in the policy until the policy expires. These payments can be index linked or can continue at a flat rate. These payments are generally paid tax free.

What life insurance policy and insurance company should you consider for your circumstances?

In order to determine which type of insurance meets your needs, please contact us via the enquiry button to request further information or to arrange a meeting with a consultant.

To enquire about Life Insurance and Protection Planning, please call one of our Independent Financial Advisers on 01325 353 888 or Click Here