Type of insurance

Life assurance – An essential cover if you have dependants who would need financial support if you were to die. There are various types to chose from depending on your budget and how much and when you would want a lump sum to be paid to your loved ones.
Life assurance falls into two categories;

• Term assurance – will pay either a lump sum or an income if you due during the term of the policy
• Whole of life – this is more expensive as it will pay on death, whenever it occurs

Critical illness – Most people don’t like to contemplate what would happen if they were diagnosed with a critical illness. But with survival rates increasing critical illness cover could provide that all important financial cushion. In the wake of a critical illness survivors can be faced with major financial difficulties, not all can return to work and may need home modifications or private therapeutic care. Paid out through a lump sum, critical illness cover can help alleviate these financial burdens and manage the day-to-day monthly bills.
Critical illness cover premiums tend to rise with age and will depend on both your and your family’s medical history. Linking your critical illness cover alongside life insurance can often reduce the costs

Income – No-one can guarantee they will not be the victim of an accident or be diagnosed with a serious illness. But you can guarantee that the bills will keep arriving. When faced with this difficult situation many people depend on state benefits, which are often below the necessary level.
Paid through monthly premiums, an income protection policy is essentially ‘piece of mind’ insurance. Often paying around half your income, the regular tax-free income helps to relieved financial hardship and maintain your standard of living.

If you are looking for life cover advice and would like to speak to Chris at our Brighton offce about the options available please call him on 01273 870 302, mobile 07821 409589 or email him on chris@themortgage-house.co.uk – or if you'd like to arrange a call back – fill in the details on our contact page.

We look forward to speaking to you

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