Term assurance is a cheap and simple form of life insurance. You insure yourself for a set term i.e. until a given age. It doesn’t contain any investment element – it simply promises to pay out if you die within the term. If you don’t die within that time, you receive nothing.
Level term policies
A level policy simply means the sum assured remains ‘level throughout the term of the policy. If you die on the first day or the last day of the policy, you get the amount you are covered for.
Decreasing Term Policies
These policies are designed to cover a mortgage or loan and will reduce in cover over time as the loan is repaid. They therefore tend to be cheaper than level term plans.
The way a term policy pays out can also come in one of two ways:
Pays out a tax free lump sum on death.
This type of policy is known as a Family income benefit plan and instead of a lump sum pays out an income until the end of the plan. These plans tend to be cheaper as again the overall value of the plan is reducing over time.
Other benefits can also sometimes be available:
- Waiver of premium benefit – the premiums are in effect paid for you in the event of defined incapacity due to illness
- Income protection benefit – a percentage of your income is paid to you if you cannot work at your usual employment
- Unemployment benefit – a variety of income protection benefit
- Critical illness cover – the benefit is paid before death on the diagnosis of a serious illness (i.e. stroke or cancer).
Financial Planning is a complex subject, setting strategies, deciphering the jargon, knowing how different products work, how products interact with each other and also the long term implications such as taxation and potential changes in legislation.
To provide strategic financial advice. Ours is a personalised service that
adopts a holistic approach by focusing on all aspects of your finances.
We seek to establish long term client relationships and to provide a
straight forward plain English financial planning service. We are focused toward long term client relationships as we believe that this is the most effective way for clients to achieve their financial goals.
Why choose an Independent Financial Advisor?
Being independent means that we can provide the most suitable advice to you based upon the Whole of Market and as such we are not tied to the products of any one Company . Only after discussing your objectives will we research the UK market place on your behalf.
We a range of adviser charges/fees which we will discuss with you and the first meeting is always without obligation or cost. Please contact us now to see how we can help.
Independence in all its forms. Independence of thought, independence from product providers when recommending a product to a client, independence of the individual so that they are not manipulated or controlled by others. Also, striving to help others become financially independent, which in tomorrow’s increasingly economically driven world will be the only real guarantee of creating and retaining an independent lifestyle.
creating and conserving wealth for our clients is one of our primary aims. This goes hand in hand with financial independence.
this extends not only to our clients and employees, but also in the transparent way we deal with others.
we design and operate systems that are simple in their concept and delivery. Financial planning should be a good experience, which is easy to understand by the consumer, not a confusing and jargon-filled nightmare. This means using the right method to deliver financial planning, which we believe for the vast majority of people is via face to face impartial and independent advice.
using it to its maximum advantage, utilising the latest cutting edge software and processes to develop the best solutions for clients needs.