Life Insurance policies pay out if you die within a specified period. This is usually the cheapest way to provide financial protection for your family in the event of your death.

Why do I need life insurance?

Coming to terms with the loss of a loved one is never an easy thing to do and adding financial burden to the grief can make coping increasingly difficult. Receiving a lump sum of money can help to support your family or even a business partner after you die. Some of the reasons to take out life insurance could include:

• Mortgage Repayment
• Covering childcare costs
• Education expenses

Whatever the reason it is important to ensure your family can maintain the standard of living to which they were accustomed.

There are various types of life assurance policies:

Level Term

The same level of cover is maintained throughout the policy term and can be used in conjunction with an interest only mortgage.

Decreasing Term Assurance

The policy pays out an amount (sum assured) which reduces throughout the term of the plan and is mainly used to protect repayment mortgages.

Convertible Term Assurance

The sum assured stays the same for the term of the policy. However, for an additional cost you will have an option to convert this original plan, or part of it, to another type of policy.

Family Income Benefit

Family Income Benefit (FIB) provides a tax free regular income which is paid out for the remaining term of the policy if you die. FIB can provide a replacement income and may be index-linked to inflation.

Death in Service Benefit

Death in service benefit is the name for cover, which can be provided by your employer if you die while employed.

Whole of Life Cover – Whole of Life Insurance cover is for the whole of your life. Unlike term insurance which only pays out if you die during the policy term.

Whole of Life insurance always pays out.  It is guaranteed that the policy will pay out upon your death.

Critical Illness Cover

Insurance that pays a lump sum if you you’re diagnosed with a specified critical illness covered by your policy.

We will be able to help guide you through the most suitable critical illness cover options available to you.  We can discuss at further length with you, a suitable level of cover to best suit your individual requirements.

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

The Policy may not cove all defenitions of critical illness. For definitions of critical illnesses covered please refer to the Key Features and Policy Documents