Protecting Family or Business
Protecting Family or Business
Money or your life - or both?
Life assurance is more of a flexible friend than you may think. It all depends on your needs.
There are so many different varieties of insurance linked to the life of the policyholder and so many life assurance companies with similar offerings that expert advice can be invaluable. At its simplest, in exchange for paying a premium, the life office will agree to pay out a certain sum if the insured dies before a certain date.
If the policyholder does not die within the term, the policy merely lapses. There is no payout of any sort. These policies are usually cheap to buy and they perform the useful function of providing protection for those who benefit from the policy, such as family members, if the policyholder dies.
Critical Illness Cover
To use a phrase by the insurer Bright Grey - What would you prefer, your life and no mortgage or your life and no house? Brutal but true!
Critical Illness Cover is vital in the arrangement of mortgages. Designed to pay out a lump sum equivalent to the outstanding mortgage debt in the event of any one of a number of pre-defined critical illnesses, it provides peace of mind that at a time of great worry and concern, the home that you live in is secure and yours forever.
If you have suffered from a heart attack, you are most likely to be concerned about what you will leave behind if your condition is life threatening. 30 years ago, If you suffered a heart attack, your chances of living would of been very low. This was a serious issue as you would leave all your worries and stress to those who are close to you. Nowadays, with the improvement in medical science, response times etc, your chances of servicing are high but will you be able to return to that high paying, stressful job? With that high paying income? Probably not.
The fact of the matter is that the younger you are when you arrange Critical Illness Cover then the lower the premiums. You insure your car, your home contents, why not your life?
If you would like to discuss these issues then contact us and we can give you an idea of the likely premium cost, without commitment.
There are a number of different forms of Term assurance to cover a myriad of situations, i.e., level term for family protection, decreasing term for mortgage protection and it is important that the type of cover selected is relevant and meets your needs.
You could seek advice from a bank or supermarket but you should ask yourself whether purchasing the cover from a bank reflects the market value or whether selecting cover from a supermarket without advice is the right thing to do.
After all, the only time you realise that the cover you arranged is not right for you, or you are ineligible to claim from, is at the time you needed it most.
Plan for tomorrow, Call us today
Your property may be repossessed if you do not keep up repayments on your mortgage.
For mortgages you can choose how we are paid: pay a fee, usually (0.50%) of the loan amount, or we can accept commission from the lender.
An Appointed Representative of Sesame Ltd which is regulated by the Financial Services Authority
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