Who is it for?This type of plan is designed for those who want to leave a lump sum in the event of their death, whenever it may happen. It can be used to pay off debts that will not be repaid during your lifetime. For those who want to leave a lump sum to pay a potential inheritance tax liability or simply to cover your funeral costs, This type of policy is usually written in trust to make the whole process of administering your estate on your death that bit easier. It also makes sure that only the people who you want to benefit do benefit. We can help establish if you have a need for this policy and if so, help you find the plan that best meets your current requirements. Contact us if you wish to discuss your need further.
What is it?As the name implies, this type of life assurance pays out when you die, whenever it may occur. It is usually, but not always, a more expensive option than term assurance simply because the life assurance company knows that it will definitely have to pay out at some point.
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The value of investments and the income from them may go down. You may not get back the original amount invested. The plan may have no cash in value at any time.