When advising clients it is important to firstly establish what we are protecting. For example if the husband is the main wage earner, then his death would have a significant impact on the remaining family.
There are different types of life assurance which suit different circumstances. Our skill, knowledge and expertise allows us to recommend the right solution for you.
Term Assurance - is a life insurance policy which covers the life of a person in monetary terms in return for a payment, usually monthly, and known as a premium. Term assurance is the cheapest and simplest form of life cover, providing life assurance for a fixed term only. The sum assured is payable only if the life assured dies within that term.
There are different types of Term Assurance, Level, Decreasing, Convertible. These policies can include valuable option, including Critical Illness cover and Terminal Illness cover.
Whole Life Assurance - is designed to provide cover for an individual's life, and pay out a lump sum when you die. However, whole life assurance differs from term assurance, because term assurance is only taken out over a certain amount of years. If you die within the term the insurer will have to pay out, and won't have to if you don't. With whole life assurance however, your beneficiaries are guaranteed a cash sum when you die.