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Life assurance
As a minimum, life assurance would typically be taken out to ensure the mortgage is fully repaid on death rather than the property having to be sold to repay the outstanding debt. In addition, you can also take out family protection to cover the loss of earnings to give you extra peace of mind.
Life assurance policies pay out either a lump sum or a series of payments when a person dies during the life or 'term' of a policy.
There are many reasons why life cover may be important for you. For example, the proceeds may be used to:
- Pay off a debt such as a mortgage
- Provide an income for your dependants
- Protect a business from the impact of a crucial partner dying
- Fund a savings plan for the benefit of your children
Life policies can be combined with other forms of insurance, such as critical illness cover.
Speak to our experienced financial advisers to find out how much cover you need and to arrange a competitive policy.
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