Life Insurance

Death is an unpredictable event, so it’s important to make sure you have the right level of cover in place. The amount of life insurance you need will depend on your individual circumstances. There are many good reasons to take out a policy. For example, if you have dependents who rely on your income, then life insurance can provide financial security for them if you die.

Different types of life insurance exist, so selecting the appropriate coverage for your needs cannot be overstated. Term life insurance offers protection for a predetermined amount of time, but whole life insurance offers protection for your entire lifetime. Additionally, you have the option of level term insurance, which provides a fixed payout in the event of your death during the policy’s term, or declining term insurance, which provides a decreasing payout over the course of the policy.

There is also a variation on the basic term assurance theme that is often worth considering as it can reduce the cost of cover. Family Income Benefit is a policy with a sum assured that reduces uniformly over time but provides regular payments of capital on the death of the breadwinner (the life assured). If you have any debt, such as a mortgage, then it’s also important to take out life insurance to
make sure that this is paid off if you die. This will give your loved ones peace of mind and prevent them from being burdened with debt.

Please contact us for more information on how we can help protect your future financial well-being and the options available to you.

Income protection insurance plans have no cash in value. If premiums are not maintained cover will lapse.