Introduction

When it comes down to it what matters most to people is their family. When it comes to the crunch, its family we first think of, family we worry about and family that gives us most happiness. The desire to protect those closest to us is a fundamental need.

We can never know, what life will throw at us in terms of ill-health, disability or death, but what we can do is make sure our family is financially secure should the worst happen.

This is where life assurance and other protection policies such as Income Protection and Critical Illness Cover come in. Because life assurance has been around so long, and because everyone should have some level of financial protection, more than 100 companies provide life assurance and protection policies. This makes for a competitive market which can only benefit consumers.

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Term Assurance

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If it is just basic cover you are looking for and you are familiar with the various types of policies on offer, we can offer you the facility to get an instant quote and buy on-line.

As the industry now is very competitive if you took your policy some time ago we may well be able to save you money on your premiums.

Term Assurance

This is the most basic form of life cover you simply cover yourself or your parter for a set amount of cover for a set amount of time. If you die within the term of the contract then the sum assured will be paid to whoever you name as benificiary on the policy.

Decreasing Term Assurance

This cover is suitable to be taken alongside a repayment mortgage, the intial level of cover will decrease each year in line with the reduction in your mortgage.

Family Income Benefit

Instead of a single lump sum benefit in the event of death, family income benefit will pay a set level of income for a set period of time, the benefit will be paid tax free to your beneficiares.

Life insurance premiums

Life insurance policyholders pay premiums into a fund from which all claims are paid out. There are two types of premium available – the guaranteed and reviewable policies:

• Guaranteed Premiums – The life insurance company guarantees to never increase your policy premium.
• Reviewable Premiums – You agree that the company can review your policy at set intervals.

Initially the reviewable premiums will work out cheaper. However, over time these premiums are likely to be increased and therefore the overall cost will surpass that of the guaranteed premium. So generally, guaranteed premiums will work out as a better buy in the long run, but if you are on a tight budget the reviewable premium presents a better short-term option.

Waiver of Premium

If illness prevents you from working your monthly premiums are paid on your behalf for after a set deferment period. Check the quotes Key Facts documents for each quotation produced.

Trusts

Can the policy be set up in a trust? This can avoid delays in money going to dependents and can avoid the risk of having to pay inheritance tax.

*By using this quotation system cover is not guaranteed and subject to the insurers normal underwriting conditions.