CHOOSE BETWEEN THESE MAIN INSURANCE OPTIONS

1. TERM INSURANCE

These plans are the most affordable way to provide protection for life insurance, critical illness or disability cover. It is written for a specific time period usually till retirement age for covering short-term liabilities or to protect a family through the loss of income due to ill health. This will ensure your family are still financially supported through difficult times and do not experience financial hardship.

The sum assured and the price is fixed on day one of cover and is the same price each year until the policy term ends. Term Insurance is the most cost-effective way to cover you for all eventualities.

Life insurance cover

2. DECREASING TERM PLANS

Similar to term policies above these plans cover all the same types of protection cover. The sum assured is set on the start date of the policy and reduces over the chosen payment term.

The cost will be the same for each year but at a lower amount than term. These are ideal for a client requiring a certain level of cover today but not needing as much in the future.

These types of policies are commonly taken with a mortgage to protect the loan amount outstanding in line with the interest rate taken against the loan.

3. WHOLE OF LIFE INSURANCE

A Whole of Life Insurance policy is ideal for estate planning for those individuals who may have potential inheritance tax liabilities and wish to plan and protect their estate from large taxation upon death.

These cover the same levels of protection as a term and decreasing term insurance but guarantees cover is in place for life. Premiums that are paid build up an investment element allowing a policy cash value in later years.

Payment options are available with added flexibility to increase or decrease cover to adapt to your personal circumstances (subject to terms and conditions).

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