What is it that keeps your possessions, family, home and lifestyle safe? - your income. If you die, the last thing you'd want would be to leave your family facing financial difficulties. That's why life insurance is so important. Life cover gives you the peace of mind that your loved ones will be provided for in the event of your death. It ensures that in the event of death or being diagnosed with a terminal illness your mortgage will be repaid and the costs not passed on to your dependents or loved ones. It will be paid out as a tax free lump sum.
Life cover can be arranged on a decreasing term basis, designed for protecting repayment mortgages. The sum assured decreases in line with the reducing balance of the mortgage, over the mortgage term. A second life cover option is level term basis, where your balance does not reduce, this relates to interest only mortgages or for Family Protection.
It is also possible to have life insurance premiums on guaranteed monthly payments. This means for the term of the policy the payments will not change even if your health does. The other option is to have the premiums reviewable, the initial payment is lower but this may increase over the term.
Placing policies into trusts is one of our extra free services that we provide to all our clients. This will ensure that when you make a claim, the money ends up in right hands at the right time. We will guide you through the process and application at no cost.
In general, trusts are not regulated by the Financial Conduct Authority.