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Life Protection Options

There are several ways in which to protect yourself and your family in the event of an untimely death.

Most people take out life assurance to provide for their families and alleviate any financial worries at a difficult time.

Level Term Assurance pays a lump sum in the event of death during the term of the policy. There is no investment element within a term assurance contract so at the end of the term there is no maturity value and life cover ends. The benefit is paid tax free and premiums are usually monthly, and fixed throughout the term. Because the term and benefit are known from the outset, and there is no investment content, term assurance can be a cost-effective method of protection.

Decreasing Term Assurance works similar to Level Term Assurance, but the benefit is set at outset and gradually decreases over the term of the policy. These policies can be used as cover for a repayment mortgage, or other loans where the amount of capital outstanding also decreases over time. Because the benefit reduces over time, the premiums are usually lower than for Level Term Assurance.

Family Income Benefit works the same as term assurance but instead of paying a lump sum upon death, it will usually pay a regular monthly/annual tax free income in the event of death to your dependants up until the end of the term of the policy.

Critical Illness Insurance is usually available as an addition to all term assurance plans but can be bought on a stand alone basis. Critical illness provides a lump sum benefit / income in the event of diagnosis of certain critical illnesses, such as Heart Attack, Stroke, Transplant, Blindness, Total & Permanent Disability and so on. The illnesses covered will be specified in the policy along with any exclusions and limitations – these differ between insurers.

 



Get in Touch



Tel
0113 2691545


Email
tony@wrightfinancialadvice.co.uk


Contact Form
Click Here


Address
18 Falkland Mount,
Leeds, LS17 6JG.



     

Life Protection Options

There are several ways in which to protect yourself and your family in the event of an untimely death.

Most people take out life assurance to provide for their families and alleviate any financial worries at a difficult time.

Level Term Assurance pays a lump sum in the event of death during the term of the policy. There is no investment element within a term assurance contract so at the end of the term there is no maturity value and life cover ends. The benefit is paid tax free and premiums are usually monthly, and fixed throughout the term. Because the term and benefit are known from the outset, and there is no investment content, term assurance can be a cost-effective method of protection.

Decreasing Term Assurance works similar to Level Term Assurance, but the benefit is set at outset and gradually decreases over the term of the policy. These policies can be used as cover for a repayment mortgage, or other loans where the amount of capital outstanding also decreases over time. Because the benefit reduces over time, the premiums are usually lower than for Level Term Assurance.

Family Income Benefit works the same as term assurance but instead of paying a lump sum upon death, it will usually pay a regular monthly/annual tax free income in the event of death to your dependants up until the end of the term of the policy.

Critical Illness Insurance is usually available as an addition to all term assurance plans but can be bought on a stand alone basis. Critical illness provides a lump sum benefit / income in the event of diagnosis of certain critical illnesses, such as Heart Attack, Stroke, Transplant, Blindness, Total & Permanent Disability and so on. The illnesses covered will be specified in the policy along with any exclusions and limitations – these differ between insurers.

 

Get in Touch



Tel
0113 2691545


Email
tony@wrightfinancialadvice.co.uk


Contact Form
Click Here


Address
18 Falkland Mount,
Leeds, LS17 6JG.












The Wright Financial Advice Ltd is Authorised and Regulated by the Financial Conduct Authority. Financial Services Register Number 228850.
Registered in England & Wales, Company Number 4910622. Registered Office address: 18 Falkland Mount, Leeds, LS17 6JG.
Trading address: As per our registered office address. Telephone: 0113 2691545
© 2015 The Wright Financial Advice Ltd | Regulatory Information

 

Designed by Want Creative


The Wright Financial Advice Ltd is Authorised and Regulated by the Financial Conduct Authority. Financial Services Register Number 228850.
Registered in England & Wales, Company Number 4910622. Registered Office address: 18 Falkland Mount, Leeds, LS17 6JG.
Trading address: As per our registered office address. Telephone: 0113 2691545
© 2015 The Wright Financial Advice Ltd | Regulatory Information


Designed by Want Creative