Life Insurance

Life insurance would be used to ensure that on your death, a lump sum is paid to either a specified beneficiary or to your estate.

This may be taken with a view to repay a debt, mortgage or loan and / or to provide a lump sum to enable your loved ones to maintain their current lifestyle after the inevitable loss of income.

Life insurance can be arranged on either a sole name basis or on a joint basis with another person.

Life insurance can also be arranged on either a “level term” basis, where the amount insured remains the same during the term of the insurance, or on a “decreasing term” basis, where the amount insured reduces over the term of the insurance – this would typically be used to protect a repayment mortgage.

There are further options that can be chosen on application:

• “Waiver of Premium” this would “pay” your premiums in the event you were unable to work due to accident or illness.
• “Increasing benefit” is an option that would allow you to increase the level of cover in the future, resulting in an increase in premium.