Protection
Life Assurance
Life assurance, also known as investment life insurance, whole life insurance, or permanent life insurance, is a policy to cover the eventual imminent death of the insured. It is insurance against an event that will happen. Because these policies are not term limited, premiums are often much higher than with term life insurance, but they guarantee payout upon maturity. The policy matures upon financial payout at the time of death.
Due to the fact that premiums are higher than with other types of life insurance, it is very important to compare rates among various insurers. Life assurance adds a monetary bonus to your own premium payments. Occasionally there are exceptions to payout, thus it is very important that all the details of the policy are understood. Payments can take the form of periodic installments, or as a single lump sum. Loans can be taken out against the policy’s value, in case of need, but these loans reduce the payout to the beneficiary unless paid back. Often these policies can include benefits in case of critical illness or accident.
Cost of coverage depends on many factors, all meant to determine risk. These factors include age, gender, lifestyle, health, and occupation. The amount of coverage you need is dependent upon debts, mortgage, and family needs. By spending just a little time to compare quotes, you can save a lot of money and trouble on premiums.
To speak to an independent financial advisor, without obligation, contact us via the enquiry form or call us on 07900 800 545.
Critical Illness Cover
The last thing you want to think about if you suffer a critical illness is how to pay for your mortgage or any adaptations required to your home or lifestyle. Critical illness Insurance pays out a tax-free lump sum if you are diagnosed with a serious illness. The illnesses covered by the policy will be confirmed in the Policy Summary or Key Facts Document which you would receive from the insurer. Many people take out critical illness insurance to protect their mortgage. However, consideration should be given to covering any necessary additions to your household or lifestyle.
It is important that before taking out critical illness insurance you compare quotes to get the best value and most comprehensive cover possible. By spending a little time comparing quotes, you can save a lot of money and trouble on premiums.
To speak to an independent financial advisor, without obligation, contact us via the enquiry form or call us on 07900 800 545.
Income Protection
Did you know that the percentage of people who suffer from an extended illness or accident that prevents them from working is high? Around one in four people will take over a month off work due to these circumstances. It is important to protect your lifestyle and family if you are unable to work due to illness or accident.
Some employers provide their staff with their full salary or a proportion of their salary for a few weeks or months. The law requires all employers to pay statutory sick pay for up to 28 weeks. However, it is likely this will be a lot less than your earnings. As part of a benefit package some employers arrange group income protection insurance for staff members. This would pay staff members an income after the statutory sick period.
If you are self–employed you will not receive any employer benefits or statutory sick pay.
Income Protection Insurance protects your income in the event of long-term illness or accident that prevents you from working. The maximum you are allowed to insure for is usually 50% to 60% of your earnings before tax.
In the event of a claim being made because of illness or disability, an income protection insurance policy would pay out a tax–free income.
The cost of the monthly premium depends on a number of factors which include: your age, your sex, your health, your occupation and your hobbies and lifestyle. One other factor which influences the premium is the deferred period. When you make a claim there is a deferred period before the benefit is paid. Normally deferred periods are from 4 weeks to 104 weeks. The longer the deferred period the cheaper the premium.
By spending just a little time to compare quotes, you can save a lot of money and trouble on premiums.
To speak to an independent financial advisor, without obligation, contact us via the enquiry form or call us on 07900 800 545.
Private Medical Insurance
In a lifetime we spend literally thousands of pounds insuring our cars, our homes, our valuables and even our lives. Yet basic good health is perhaps the most precious asset we have, and all too often it is not given enough consideration.
The National Health Service is one of the best healthcare systems in the world for the treatment of accidents and emergencies. However, the sheer number of operations needed for less urgent conditions means that it continues to struggle to cope with the increasing demand on its resources. There are still a substantial number of people in the UK waiting for admission to hospital for treatment, and there is another substantial list of people waiting for an initial appointment to see a specialist, having been referred by their GP.
Private medical insurance enables you to avoid these lengthy delays.
To speak to an independent financial advisor, without obligation, contact us via the enquiry form or call us on 07900 800 545.
Mortgage Payment Protection
Mortgage Payment Protection is a comprehensive insurance policy that covers reasons you may not be able to pay your mortgage during a specified period of time. These circumstances could include accident, disability, illness, or unemployment. Usually, claims are covered for a period of time up to 12 months.
Mortgage Payment Protections does not usually cover pre–existing medical conditions, pregnancy, substance abuse, or disorders without backing medical evidence.
Prevent undue stress during hard times by ensuring you and your family is covered in case of unintentional and unexpected circumstances that could prevent your ability to pay your home mortgage. By spending just a little time to compare quotes, you can save a lot of money and trouble on premiums.
To speak to an independent financial advisor, without obligation, contact us via the enquiry form or call us on 07900 800 545.
You will be referred to Laurence Hopper, an Independent Financial Advisor who is regulated by the Financial Services Authority.