Life Protection

Protect the ones that you care for

The cost of Life assurance has fallen over the last few years. There are various ways of setting up these plans. They can be very flexible and adapt with your changing needs. They can be set up on a joint life basis and can even pay out in the event of a terminal illness, giving you the opportunity to help the people who mean so much to you.

Term assurance

This is a straight forward way of providing the protection that you may need. It pays out a cash sum on death if the insured dies before a certain date. This is one of the cheapest insurance plans available. 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.

Endowments

Although not as popular as they once were, endowments give a bit of life protection in the event of death before the end of the chosen term and a cash sum on survival! These were commonly used for mortgage purposes in the past and savings plans for various needs.

Whole of life plans

Similar to term assurances, however whole of life policies provide cover for the whole of the insured’s life. That is, there is no finishing date for the cover. The premiums tend to be more expensive than Term assurance plans but gives some peace of mind that the cover will always remain in place as long as the premiums are maintained.

Investment

Many people do not realise that some investment plans can also include life protection. There are protected plans available that can be used for the protection of the investment for the benefit of dependents.

Whatever your needs are, there is a plan available. The right plan at the right time can give your loved ones the right money when they need it most.