Life Insurance
It can provide the reassurance of financial protection for you, your family and your business associates.
Life insurance is commonly mistaken to cover all Protection but should correctly be referred to as ‘Life only cover’. This will pay out a lump sum when the person who is cover by the plan dies. This lump sum is intended to pay off any outstanding debts and to support your dependants financially but if you do not have dependants this can help other loved ones and even help towards funeral expenses.
The type of Life Insurance and the amount of cover will depend on an individual’s circumstances and requirements (age, dependants, income, financial liabilities).
Some of the types of Life Insurance; Decreasing, Level, Whole of Life and each may be on a level, index or a percentage linked.
An important factor is that these are put in trust to make sure the money goes to the person intended.
Certain types of insurance are medically underwritten.