Life and Health Insurance

"I want to protect my family's finances"

Coming to terms with the loss of a loved one is never an easy thing to do and adding financial burden to the grief can make coping increasingly difficult. Receiving a lump sum of money can help to support your family or even a business partner after you die.

Some of the reasons to take out life insurance could include:

1. Mortgage repayment.
2. Covering childcare costs.
3. Education costs.
4. Business costs.
   

Whatever the reason it is important to ensure your family can maintain the standard of living to which they were accustomed. Life Insurance policies pay out if you die within a specified period. This is usually the cheapest way to provide financial protection for your family in the event of your death.

There are various types of life assurance policies:

Level Term:

The same level of cover is maintained throughout the policy term and can be used in conjunction with an interest only mortgage.

Decreasing Term Assurance:

The policy pays out an amount (sum assured) which reduces throughout the term of the plan and is mainly used to protect repayment mortgages.

Family Income Benefit:

Family Income Benefit (FIB) provides a tax free regular income which is paid out for the remaining term of the policy if you die. FIB can provide a replacement income and may be index-linked to inflation.

Critical Illness:

Insurance that pays a lump sum if you're diagnosed with a specified critical illness covered by your policy.

Our experienced financial advisors will be able to help guide you through the most suitable critical illness over options available to you. They can discuss at further length with you, a suitable level of cover to best suit your individual requirements.