Obtain trusted advice on all aspects of life assurance from a team of professionals. Situated in Sutton, Surrey, our financial advisers undertake an assessment of your life assurance needs to ensure future financial security for your family. We cover term assurance, whole of life, endowment policies and others regarding complete family protection.
The main purpose of life assurance is to provide money for those people who may depend on you financially, in the event that something should happen to you. These people could include family members or business partners.
It can provide the reassurance of financial protection for you, your family, and your business associates. Because of the many options and flexibility, life assurance can be a powerful instrument in your financial planning toolkit.
A life assurance policy pays out a sum of money when the person who is covered by the plan passes away. The money is intended to pay off any outstanding debts and support your dependants financially by providing them with a further lump sum or a regular income if you die.
Even if there are no dependants who may be financially affected by your death, some life assurance policies could go towards covering funeral costs.
The type of life assurance and the amount of cover will depend on an individual's particular circumstances and requirements. Factors to consider will include age, dependants, level of income, and financial liabilities.
Premiums are normally paid to the insurance company either monthly or annually for a fixed period of time, or in some cases, until death.
While the overall concept of life assurance is fairly easy to understand, there are some complexities.
Most importantly, there are different types of life assurance products, covering term assurance, whole of life, endowment policies, and others. Please be aware that in some cases this type of assurance is based on an assessment of the health of the applicant.
These plans have no cash in value (where no investment link is included) at any time and will cease at the end of the term. If premiums are not maintained, then cover will lapse.