Term Life Insurance

Types of Term Life Protection

There are a number of different types of term life insurance.  

The “Term Insurance” family of products is perhaps the cheapest, most popular, and efficient, when it comes to protecting your mortgage and family. The term life insurance family consists of quite a few variations; most variations have the ability to add valuable extra benefits, known as “options”, making the overall range of term products available fairly substantial.

Buying the basic form of term life insurance, ie: with no options added, might be OK for some people, but if the “options” available are not explained, how do you know whether you should include them or not? How do you know they won’t benefit you long term?

Don't settle for second best, engage your own independent financial adviser with "Call Back".


Be Better Protected

Protecting your mortgage
If you have a partner or a family, mortgage protection life insurance allows them to remain in their home should the very worst happen to you.  Generally, mortgage life insurance guarantees to pay off your mortgage, in full, if you were to pass away, provided the amount of cover you have is equal to the amount outstanding on your mortgage. 

Protecting your family
If you have a family, you will want to do all you can to keep them safe. But what happens if you are no longer able to look after them? A family life insurance policy is designed to help provide financial support to your dependants when you are no longer around. You choose how much life insurance you want or one of our advisers will calculate your requirements for you.

Two options apply....

You can choose to have your premium basis guaranteed, where the amount you pay remains fixed for the term of your protection, or reviewable, where the provider reviews the risks associated with your selected cover type and retains the right to adjust your premium according to the risk they assess.

Different providers review at different intervals; on some occasions, the period between reviews can impact on your initial premium levels – it is important to be clear on what basis you have been quoted.
Premium Payment Protection (Wavier of Premium) pays your life insurance premiums, if you are in gainful employment and too ill to undertake your normal occupation for a given period of time; the time period is set down by your selected provider, usually it's 26 weeks or more due to incapacity caused by illness or injury.
Most critical illness plans include a provision to pay out some benefits if the life assured’s natural, legally adopted (and sometimes step) children are diagnosed with a critical illness.

The child has to be diagnosed with one of the defined conditions and survive any survival period stated by the insurance provider - cover differs between providers, seek advice.
Terminal illness cover is included by most providers, usually at no extra charge. Your mortgage or family protection pays out upon diagnosis of a terminal illness, rather than when you die.

By terminal, insurance companies usually mean:

- suffering from an advanced or rapidly progressing incurable illness where, in the opinion of the provider, life expectancy is less than 12 months.

Restrictions can apply to this option..... seek advice by calling 0845 1280152.
Insurance Trusts, such as discretionary trusts, absolute trusts and split trusts, help ensure your valuable mortgage and family protection ends up in the right hands at the right time

Visit our sister website www.insurancetrusts.co.uk for more details
Buy Back is used with the purchase of additional critical illness cover.

Buy Back provides you with the option of buying back cover subsequent to a successful claim for critical illness or total permanent disability, where the policy would have otherwise finished due to your claim.

Not all providers offer this option and restrictions will apply.
Guaranteed Insurability Options permit you to increase your family or mortgage life insurance without the need for any further medical evidence, health questions or assessments.

Guaranteed Insurability Options set down time limits, after certain events, in which you have the right to exercise your option – these limits may vary between insurance companies.
Accidental Death Benefit provides you with accidental death protection during the period of time when your insurance provider is processing your application, should you die as a result of an accident.

The definition of death by accident will vary, but generally, this is “where a bodily injury is sustained, caused by an accidental violent, external and visible means, which solely and independently of any other cause results in death.

Generally, the amount of accidental death benefit is the sum assured you applied for, but certain limits apply and these vary between insurance companies

Some Valuable Options

Below are some "options" and "extras" available to you when purchasing Term Life Insurance.

»»»   Premium Guarantee

»»»   Premium Payment Protection

»»»   Childrens' Benefit

»»»   Terminal Illness

»»»   Insurance Trust Deed

»»»   Guaranteed Insurability

»»»   Life Cover Buy Back

»»»   Accidental Death Benefit

When you engage one of our "in-house" financial advisers, using "Call Back", your options, and extras are explained....

Don't settle for second best...  0845 1280152


Testimonials

  • You reduced our premiums and increased our protection. Great Job. Thanks.

    Cara Mahoney - London

  • Didn't realise how easy it could be to get independent financial advice, so pleased we did...

    Paul Abbott - Sevenoaks

  • The choice of product was much wider than we ever thought...

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