Life Insurance

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Life insurance can help ease your worries that your loved ones will be taken care of and may not have to deal with the financial strain that could arise from you no longer being around. They would receive a lump sum or income if you die or are diagnosed with a terminal illness.

You may want to consider life insurance if you’re:

  • Aiming to assist your family financially e.g., children’s education and living costs
  • Suffering with or are worried about poor health
  • Concerned about risks such as mortgage repayments and debts should you pass away
You'll be covered if you die or if you're diagnosed with a terminal illness (with a life expectancy of less than 12 months) within the length of the policy. You choose how much cover you need and how long you need it for and premiums are guaranteed and will not change unless you make changes to the policy.
There are three key types of life insurance to choose between:

  • Level Term Life Insurance – These policies run for a fixed period of time, such as 10, 15 or 25 years. Term life insurance policies guarantee to pay out a fixed level sum assured and only pay out if you die during the policy term and there’s no lump sum payable when the term comes to an end. 

  • Decreasing Term Life Insurance – Is a type of life insurance policy that’s paid over a fixed period of time in line with a mortgage term. The level of pay-out decreases over the length of the policy. It’s often used to cover the balance of a repayment mortgage, because this is a type of loan that also decreases over time.

  • Whole of Life – these policies will pay out when the person insured dies

A life insurance policy will protect you and your loved ones when you no longer can. When we propose Life Insurance Cover for you, we consider not only the debts / mortgage you have outstanding, we consider the people who depend on you and how they would cope without your income. To learn more about Life Assurance and to discuss your options, contact us now.