No one enjoys talking about death, however it is important to leave your dependents with access to a lump sum in the event of your death.
Whole of Market . Independent advice. •
Often this will be used to pay off a mortgage, help with funeral costs or just leaving a sum of money to lighten the load. Often insurers will also pay out on diagnosis of a terminal illness as well, this can be helpful if you need specialist care during the final stages of your life
Our team will also be able to assist with writing the policy in trust for you. This ensures the policy is paid out to your nominated beneficiary and does not form part of your estate – therefore speeding up the payment. This benefit is available to you at no extra cost!
Our job isn’t to sell you life insurance, we advise you on what could happen, thereby putting you in the correct frame to mind to make an informed decision.
There are different types of life insurance:
- Level Term: The pay-out from you policy does not vary. For instance, if you take a 20 year policy, death at any time will result in the sum applied for.
- Decreasing Term: The pay-out from the policy will decrease over time. This is often used to cover a mortgage whereby the debt is decrease over a specified period.
- Increasing Term: The pay-out from the policy will increase over time, often this will be linked in inflation. For instance, £200,000 today will not be £200,000 in 14 years-time due the inflation eroding the true value.
- Whole of Life: The policy will be in force for your entire life. Often this is used to cover and Inheritance Tax bill or assist with funeral expenses. These policies are normally more expensive as they are guaranteed to pay out at some point, assuming the policy is still in force