Life Assurance

Did you know?

• Nearly 1400 people die every day in England & Wales. (Source: Office for National Statistics (2012 Figures) - July 2013).
• 5 people die on Britain's roads every day. (Source: RoSPA - Jan 2014)
• The life expectancy at birth for a male in the UK is 79.1 years. (Source: Office For National Statistics - October 2013)

Who is it for?

Life Cover can be used to repay any debts but particularly mortgage debts. It can also be used to provide a lump sum to leave behind for anyone who is financially dependent on you such as young children or your spouse or partner. Life cover can be written in trust, normally free of charge, to make sure the people you want to benefit can benefit quickly and when they need it most. TRUSTS ARE NOT REGULATED BY THE FINANCIAL CONDUCT AUTHORITY. It is important to remember that when you die your debts become the liability of the estate you leave behind. If you would like to review your needs please contact us.

Why do you need it?

When you die, your estate along with all your debt is normally inherited by the loved ones you leave behind. A simple life cover plan can be set up to repay that debt making sure that any assets you have, such as the family home, are left to the ones who need it most. Often people you leave behind cannot afford to continue with the debt or their standard of living without the income you provided.

What is it?

A 'Term Life Insurance Plan' is the most basic form of life insurance and is usually the cheapest option when taking this sort of cover. It covers you for a specific amount, over a specific term. It can also be set up to cover more than one person. Normally if you have a joint mortgage then both people should be protected. It can also be set up so the amount of protection either reduces in line with your debt, stays level throughout the term or increases in line with your need. This sort of policy quite simply pays out the specified amount should you die during the term of the policy. With some Term Insurance Policies you can add additional benefits, for instance critical illness cover. If you do add on critical illness cover, the plan will pay out once on diagnosis of a qualifying critical illness or if you die during the term of the policy.