It is easy to forget to insure the most valuable asset in our household
Whilst most insure both their building and contents, some don’t insure themselves. The very thing that brings in the earnings, that raises the family and would cause financial hardship should they not be there. Whilst life assurance can never replace a loved one, it can assist with the financial implications of their loss.
People’s life insurance needs change as there circumstances change. It may be when they purchase their first home, start a family, needs to protect against inheritance tax or covering funeral cost.
Life assurance comes in different forms as follows:-
Level Term Assurance
This type of life insurance provides a set amount of lump sum death benefit for a set period of time, and would for example be ideal, to protect your family whilst the children are financially dependent or to cover the liability of an interest only mortgage.
Decreasing Term Assurance
As the name suggests, this type of life insurance covers you for a set period of time but the amount of life cover reduces each year. This would be ideal for cover a capital and repayment mortgage.
Family Income Benefit
This type of life assurance will provide a death benefit in the form of a monthly (or annual) income for the selected term of the policy. An ideal type of insurance to protect the family without the burden of having to manage a large lump sum to ensure your dependants maintain the lifestyle required.
Whole of Life
Often called in the “old days” a death plan, because this type of life assurance will pay out whenever death occurs. These types of life assurance plan are ideal if you are considering inheritance tax planning or looking to cover the cost of funeral planning
All the above types of life cover are for pure protection only and at no time offer a cash-in value. You are paying for the peace of mind that your loved ones are financially protected in the event of death of the most valuable asset in the household, you!
Contact us at Futures Assured Limited to get advice on Life Insurance Cover. We will be able to ensure it meets your needs and objectives as well as provide you with a competitive quotation without any obligation. Should you wish to take advantage of our service then please click contact us or alternatively ring us on 0114 2421818.
Our initial consultation with you is FREE as we meet that cost (although a cup of tea would be nice!).