Our friendly, expert advisors can guide you on the right protection policy that best fits with your needs and desires, to ensure the security you need to feel safe and protected.

Life Assurance

Family is important; that’s why it’s best to get expert advice to help protect what matters, when it matters!

Quite often you hear ‘it could never happen to me’ or ‘I’ll sort it out later’. Well the old maxim of “failing to plan is planning to fail” is no better suited to the ignoring of crucial decisions on protection. 

As one would imagine, there are many types of Protection Policies to choose from. Finding the one that provides adequate cover and the right protection is not as easy as you may think. As Independent Mortgage and Protection Advisers’ we can help you find the one that best meets your requirements.

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What is it?

A Term life insurance plan is the most basic form of life insurance and is usually the cheapest way to insure your life. It covers you for a fixed period and pays out a one off lump sum if you die during the policy term.

With some term insurance policies you can add additional options, for instance critical illness cover. If you do add on critical illness cover, the plan will pay out once on diagnosis of a qualifying critical illness or if you die during the term of the policy.

Our friendly, expert advisors can guide you on the right financial protection that best fits with your needs and desires, to ensure the security you need to feel safe and protected.

Who is it for?

This type of plan is designed for those who want to leave a lump sum in the event of their death within a specified time period whilst keeping the cost to a minimum. Term assurance can protect your family from the financial implications of a personal tragedy and is particularly important if you have young children or dependents.

It can be used to cover a mortgage, other loan or to ensure that your family is protected from the effects of having to repay a debt after the main breadwinner has passed away. As advisors we can help you find the plan that best meets your requirements.

Our friendly, expert advisors can guide you on the right financial protection that best fits with your needs and desires, to ensure the security you need to feel safe and protected.

Secure. Protect. Prosper.

The Different Types of Life Insurance

  • Whole of life assurance provides lifetime coverage, paying out upon death as long as premiums are maintained. It offers financial protection for self and dependents, helping to reduce inheritance tax (IHT) on the estate. Policies can have either guaranteed premiums or be investment-backed, combining life cover with investment. In the latter case, premiums are reviewed periodically and adjusted based on investment performance.

Whole of Life

  • All forms of term assurance (or temporary assurance) share a key feature: the sum assured is paid out only if the life assured passes away within a specified time frame—the term.

Term Assurance

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Term Assurance

  • Level term life insurance pays a lump sum if you pass away during the policy term. You choose the cover amount and term length, with fixed monthly payments and a consistent payout.

    For example, £100,000 cover for 20 years means £100,000 will be paid if you pass away during that period. The payout can help cover living expenses, debts, school fees, or an interest-only mortgage.

  • Decreasing term life insurance is ideal for those with decreasing financial commitments, like a repayment mortgage. The cover and term are aligned with your mortgage, and as the mortgage balance decreases, so does the coverage. Monthly premiums remain fixed.

    If you pass away during the policy term, the lump sum paid out will match your remaining mortgage balance. No payment is made if you pass away after the policy ends.

  • Increasing term assurance is a policy where the sum assured increases annually by a fixed amount or percentage of the original sum.

    It provides temporary cover that grows over time to offset the impact of inflation on purchasing power.

  • Convertible term assurance allows the policyholder to convert the policy into whole-of-life or endowment insurance at standard premium rates, without needing to provide health evidence at the time of conversion.

  • Renewable term assurance allows a policy to be renewed at the end of the initial term for the same sum assured without requiring further medical evidence.

    The new term’s length is the same as the original, with a further renewal option, but typically cannot be renewed beyond age 65. Premiums are based on the life assured's age at the time of renewal.

Protection

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE