What Type of Cover Do you need?
Understanding which product is right for you is just as important as finding the very best value cover.
We can arrange policies that will provide a financial safety net for your family, or arrange policies that are designed to protect against loans or mortgages.
Level Term Life Insurance
Level Term Life Insurance will pay a lump sum if you die and the amount of cover remains the same throughout the lifespan of the policy (the term).
If you were to die unexpectedly, the lost income may inflict serious hardship on those you care for. This is often more severe if it happens during our earning years or whilst financial liabilities remain at outstanding. A life insurance benefit payment could therefore take care of:
- Paying off mortages & Loans
- Paying bills & other family costs
- Maintaining a desired standard of living
Decreasing Life Insurance
Decreasing Life cover may be an affordable solution to avoid leaving the expense of an outstanding loan or mortgage that you do not want to burden your loved ones with if you die.
Decreasing Life Insurance or Mortgage Protection as it is sometimes known, is more cost effective than level term cover and is mainly used as a way of covering your repayment mortgage liability if you die. The amount of benefit or sum assured that you have reduces, the idea being that the amount you owe on your repayment mortgage will obviously do the same.
- Paying the balance of outstanding loans
- A cost effective alternative to other policy types
Whole Of Life Insurance
A Whole of Life Insurance policy offers protection in the event of death at any point after policy inception.
Whole of Life Insurance, unlike Term Life Insurance, runs indefinitely until the inevitable day we die. It normally incurs a significantly higher premium for the simple reason that the insurance company knows that a pay-out is a certainty, opposed to a possibility.
- Contractual certainty of a pay out
- Policies run indefinitely until death