Personal Protection
Life Insurance
Life insurance could provide you and your family with financial protection for the equivalent of a few pounds a week. The life insurance market can be confusing because there are different types of life policy to cope with the range of risks. Here we briefly explain the types of life insurance available. If you would like detailed information about the types of protection available please contact us
Term Assurance
The simplest form of life insurance cover is level term assurance. Term assurance pays a fixed cash lump sum on death during a defined period. The lump sum might then be used to meet immediate expenses or provide an income for the future. Term assurance is often used in inheritance tax planning, while a variation called decreasing term assurance is ideal for providing life insurance protection for some types of mortgage borrowing.
Whole of Life Insurance
If you are looking for life insurance cover that will last throughout your life then a whole of life insurance plan could meet your needs. Whole of life insurance is designed to pay out a lump sum on death but also offers maximum flexibility, allowing you to increase or decrease the amount of death benefit and level of premium to suit your changing needs over the course of your life.
These days most whole of life plans have an investment element, so the level of life insurance provided over the years is partly dependent on fund performance. However the traditional type of whole of life plan that provides guaranteed life insurance is still available.
Critical Illness Cover
Critical illness insurance is designed to provide a sum of money on the diagnosis of certain critical illnesses. Critical illness cover can be taken out on a 'stand alone' basis or can be incorporated into life insurance policies to provide comprehensive cover.
Income Protection Insurance
Income protection insurance is sometimes referred to as permanent health insurance or PHI. If you are unable to work due to an illness or accident then an income protection insurance policy will provide you with an income to help you maintain your standard of living. Income protection insurance should not be confused with critical illness cover. Critical illness generally pays a lump sum of money whereas income protection insurance pays out a regular sum as a replacement for your income.
Your life insurance or protection quotation
We offer two distinct approaches to providing life insurance quotations:
- An instant online quotation service offering comparative life insurance quotations and the facility to download relevant documentation and an application form straightaway. This option is great if you already know the kind of life insurance product you want and need a quick idea of costs.
- A bespoke financial planning service where one of our independent financial advisers will assess your individual requirements, take into account any special features and research the whole life insurance market before recommending the best combination of cost and life cover. Choose this option if you need guidance on your life insurance options, have complex requirements or want a full financial review which will encompass life insurance protection. We offer the option of fee-based financial planning advice, or commission offset so you can be certain you are getting truly independent financial advice.
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