Life Protection

Life related insurances are all about what sort of benefits you want from them. If it is basic protection for loved ones when you die, then the costs can be quite modest and the policies quite straightforward. For full-blown investment products inclusive of life cover, the terms may be more complicated, but the long-term returns can be worthwhile. Life assurance can be taken out to ensure loans are repaid or family members are protected on death. Life assurance can also help business owners pass on their shares in accordance with their wishes. It is important to make sure that you have the right type of policy for the circumstances for which it is required. This can save money. You should also consider whether or not it is appropriate to place a life policy into trust. This could prevent inheritance tax being paid on the life cover and could also ensure quicker distribution of the proceeds to the ones it is intended for. There are so many different varieties of insurance linked to the life of the policyholder and so many life assurance companies with similar offerings that expert advice is invaluable.

Term assurance

In exchange for paying a premium the life office will agree to pay out a certain sum (sum assured) if the insured dies before a specified date within the term of the plan. As an example, the term assurance could be linked to a repayment mortgage and decrease in line with the reducing mortgage or it could be a level term assurance plan where the cover stays the same throughout. If the policyholder does not die within the term, the policy merely lapses without value.

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 cover will lapse.


These are a form of investment policy. These are not often used now. They were frequently linked to mortgages. Regular premiums are paid and at the end of the term a lump sum is paid out. Most endowments also have a protection element so that if the policyholder dies, then a lump sum becomes payable. Although few Endowments are arranged in the current market, you may require advice on an existing plan.

The value of investments and income from them may go down. You may not get back the amount originally invested.

Whole-of-life policies

These policies provide cover for the whole of the insured's life. The benefit payable on death will be either a lump sum or the value of the invested fund, whichever is higher. Some of these plans include an investment element and some do not. Because of this it is particularly important that advice is sought when considering this type of cover.

The value of investments and the income from them may go down. You may not get back the original amount invested.

The plan may have no cash in value at any time.

For further advice Ring 01772 203 222 or email us.

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