Life Assurance

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.

A Life Assurance (or Insurance, the terms are interchangeable) policy pays out a lump sum to your family when you die.

There are two types:

Term Life Assurance policy is taken out to run for a certain length of time.   Sometimes people choose this type of policy because they want the policy to run alongside their mortgage and end when they have paid off their mortgage.   The policy would pay out, up to the amount of money insured, if the named person or persons on the policy died during the time in which the policy was running.

Whole of Life Assurance policy costs more than a term life policy and that is because it will run until the death of the named person or persons on the policy, and will therefore be expected to pay out at some point.

With both policies, you decide on how much money you would like the policy to pay when/if you die and your monthly premiums are based on the cover being provided.   You may wish to assure your family by covering the balance of the mortgage owing on your property, or you may wish to provide funds for meeting funeral costs or meeting other outgoings for a period of time, until your family are able to cope agian financially (eg. providing enough money to cover six months of household bills).

If you feel now is the right time to protect your family or to review your existing policies, please contact us and we will provide you with the help and guidance you need to make the right decisions.   

All initial enquiries and appointments are arranged on a free, no-obligation basis.

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There may be a fee for the advice given, the exact amount will depend upon your circumstances but we estimate it will be £295.

L J Financial Ltd is an Appointed Representative of Mortgage Intelligence Limited which is authorised and regulated by the Financial Conduct Authority under number 305330 in respect of mortgage, insurance and consumer credit mediation activities only.

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