Life insurance is there to provide for you or those that depend on you when you fall ill or die. So it’s important to seek expert advice in this area to make sure any policies in place suit your circumstances and that trusts are used appropriately.
At Lothbury Pendil, we’re able to discuss and advise on a wide range of policy types, including:
Term assurance – Offers cover over a length of time, paying a lump sum or income on death or diagnosis of illness. Term assurance is often used to cover the repayment of a mortgage or to offer cover for your family while any children grow up.
Income protection – Replaces earnings on diagnosis of an illness or an accident preventing the policyholder from working. This cover is essential for most but particularly for the self-employed and those with families or dependents to look after.
Critical illness insurance (*) – If you suffer a critical illness it could seriously affect you financially. This cover can pay out a tax-free lump sum of money on diagnosis of a specified critical illness, giving you peace of mind and money when you it most.
Whole life cover – Running for the whole of your life, this cover is used to provide for family or sometimes for inheritance tax planning.
Remember, as circumstances change and families grow it’s always worth reviewing your life insurance arrangements. Talk to us today to review your situation.
Protection plans usually have no cash in value at anytime and will cease at the end of the term. If premiums are not maintained then cover will lapse.
(*) Plans may not cover all the definitions of a critical illness. The definitions vary between product providers and will be described in the key features and policy document if you go ahead with a plan.