LIFE INSURANCE AND FAMILY PROTECTION
Life Insurance
There are several ways in which to provide financial security for dependent's in the event of your untimely death. Life Insurance is usually the most cost effective way of making sure you provide financial security should you die within the policy term.
Why do I need life insurance?
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.
When taking out life insurance, most families cover the breadwinner first. They're the ones earning the money to cover the mortgage or rent, bills and other payments needed to keep a roof over the family's head. But it is equally important to take life insurance for stay-at-home parents; their roles are invaluable and although it’s hard to put a monetary value on all the responsibilities they undertake to keep the home going and the children looked after, if they were to die, would the breadwinner’s income cover the additional costs of the stay-at-home parent..?
Some of the reasons to takeout life insurance could include:
Mortgage Repayment
Loan Repayment
Covering childcare costs
Funeral expenses
Whatever the reason, it is important to ensure your family can maintain the standard of living to which they were accustomed when you were still alive.
Critical Illness Cover
Critical Illnesses such as heart attacks, strokes and advanced cancers can have a dramatic effect on your life, which may mean you are unable to work and therefore unable to continue making mortgage or liability payments. It may also mean that you need specialist medical care, for which you could be waiting a long time on the NHS waiting list. The cover itself will pay a lump sum when you are diagnosed with one of the specific critical illnesses on the insurance companies list of illnesses covered. Like Life Insurance, your Critical Illness Cover is designed to be flexible enough to suit your individual needs and circumstances.
Accident, Sickness and Unemployment Cover (ASU)
ASU Cover is a policy taken out only to protect your monthly mortgage payments and any other mortgage related expenses. It is not to replace your income. The cover is designed to provide you with financial protection in the event you are unable to continue working because:
You are injured and unable to work
You are ill and too sick to work
You have lost your job through no fault of your own
This policy can either be taken out to provide a monthly benefit for either 12 or 24 months only.
Family Income Benefit
Family Income Benefit (FIB) is a type of life insurance. Policies run for a set period of time, known as the policy term. Unlike standard life assurance, that pays out a lump sum in the event of your death, FIB ensures that if the worse were to happen, your family would receive a tax-free payout as a regular monthly income for the remaining term of your policy.
This type of life insurance is designed for people with young families who wish to protect against the loss of income from one or both parents.
Income Protection
Income Protection is designed to provide you with a regular income in the event you 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 of the policy term (typically your normal retirement age).
Our Income Protection Cover options are straightforward, simple to arrange and individual to you, providing:
An income to help with loss of earnings due to ill health or accidental injury
Continued benefit if you go back to work in a reduced capacity, with a reduced salary
Please contact us if you are looking for the following:
Life Insurance | Critical Illness Cover | Accident, Sickness and Unemployment Cover | Family Income Benefit | Income Protection
"We do not charge fee’s for arranging Insurance products"