What is Life Insurance?
Life insurance is a simple product designed to provide a lump sum or Monthly income payment on death. It is designed to provide your dependents with financial security on your death and ensure that they are not left with a shortfall in income. It can also be used to protect mortgage and loans to ensure they are not passed on to your estate.
When did you last review your life insurance?
Are you paying too much for your existing life insurance policies?
How would your spouse/partner/dependents cope if you were to die tomorrow/next week/ next month? – have you cover in place?
Have you any loans that are not covered by a life policy?
Is your business sufficiently covered for loans/ death of a business partner/ loss of a key employee?
What are the benefits of Life Insurance?
Your dependents will not be left with debts or have to struggle financially as a result of your death.
It’s true that not everyone needs life insurance, however, if someone – your wife, your child – would be adversely affected by the loss of your income should you die, then you really should have some cover in place.
What type of life cover do I need?
There are many different types of life cover and we can advise you on which is best to suit your needs.
New Family Income Benefit:
This is a frequently ignored form of life insurance, even though it offers appropriate cover for many people, and is cheaper than traditional forms of term assurance. A family income benefit policy will pay a monthly income to your loved ones, rather than a lump sum. This is a big selling point, as you may not want to leave your loved ones having to make complex investment decisions with the lump sum they would get from other policies upon your death. For a full explanation of family income benefit