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Protect your family with a life insurance plan

Life Insurance

We never want to think about it but should the worst happen would your family be protected?

Life assurance offers valuable financial protection and peace of mind in the event of death, especially where you have a family dependant on you and/or your income. This could provide a lump sum or an income payable on death, over a specific term of years e.g. the term of your mortgage. Benefits payable could form part of your estate, if not written in trust and could be liable for inheritance tax, if the value of your estate is above a certain threshold. All policies will be subject to satisfactory medical underwriting. Life cover can be on a decreasing term basis, designed for protecting repayment mortgages which means the sum assured decreases in line with the reducing balance of the mortgage, over the mortgage term.

It is possible to have life insurance premiums on fixed monthly payments. This means for the term of the policy the payments will not change even if your health does.

Level Term Assurance

Provides a guaranteed lump sum to be paid on the death of the life / lives assured, throughout the term of the policy. Premiums are level for the duration of the plan. This could provide an amount equal to that of a mortgage loan outstanding, e.g. interest only, a non-mortgage debt or liability

Mortgage Protection

This policy is designed so that the amount of benefit payable would be sufficient to repay the amount of mortgage outstanding, throughout the mortgage term i.e. a capital and interest repayment mortgage. If you die during the policy term your insurer will pay the calculated amount of cover at that time.

These plans have no cash in value at any time and will cease at the end of the term. If premiums are not maintained, then cover will lapse.

Tax treatment is based on individual circumstances and may be subject to change in the future.

The financial conduct Authority does not regulate Inheritance Tax and Trust planning.