A Term Life insurance plan is the simplest, most basic form of life insurance and is usually the cheapest way to insure your life. It covers you for a fixed period and pays out a lump sum if you die during the policy term. With most term assurance policies, you can add additional options. For example, if you add on critical illness cover, the policy will pay out either within 28 days on diagnosis of a qualifying critical illness or if you die whilst the policy is in force.

With a repayment mortgage, we would recommend a DECREASING TERM mortgage protection policy where the life assurance drops as the mortgage debt reduces (in sync with each other) making this the most cost-effective way of protecting the mortgage.

Interest only mortgages and family protection policies are generally LEVEL TERM policies where the cover remains the same throughout the policy term.

This type of plan is designed for those who want to leave a lump sum or a regular income in the event of their death within a specified time period whilst keeping the cost to a minimum. Term assurance can protect your family from the financial implications of a personal tragedy and is particularly important if you have young children or dependents. It can be used to cover a mortgage, other loan or to ensure that your family is protected from the effects of having to repay a debt after the main breadwinner has passed away. As advisors we can help you find the plan that best meets your requirements.

What is it?
A Critical Illness plan is designed to pay out a lump sum on the diagnosis of certain specified illnesses. It is often ‘bolted on’ to a life assurance policy as an additional benefit but can also be a standalone plan.

Who is it for?
This type of plan is designed for those individuals or families whom require a lump sum should they be diagnosed with a serious illness. As an example of where this lump sum could be used is to repay a loan, mortgage, or perhaps pay for time off work. The lump sum could even be used to pay for any necessary alterations to your home.

The quality of cover and the illnesses covered can vary significantly between different providers. As advisors we can help you find the plan that best meets your requirements.

What is it?
An Individual Income Protection plan is designed to pay out a regular income in the event the insured person are unable to work due to an accident or illness. These types of plans continue to pay out an income as long as you are unable to return to work up until the end date of the policy (typically your normal retirement age).

This type of plan is quite often seen as the foundation of any financial planning as it is likely that other plans will have to be given up if you do not have sufficient income coming into the household.

Who is it for?
This type of plan is designed for anyone whom is working (employed or self-employed). It’s worth pointing out that even if your employer provides sick pay, it is unlikely to last for longer than twelve months and so ongoing protection is essential. Plans can be adapted to fit in with any existing protection you might have. As advisors we can help you find the plan that best meets your requirements.

This type of plan is designed for anyone whom is working (employed or self-employed). It’s worth pointing out that even if your employer provides sick pay, it is unlikely to last for longer than twelve months and so ongoing protection is essential. Plans can be adapted to fit in with any existing protection you might have. As advisors we can help you find the plan that best meets your requirements.