Protect income, yourself and your family

If you have a mortgage or a secured loan then Life Assurance could be critical to the protection of your family should you die. Life Assurance cover is taken out to repay your mortgage or secured loan in the event of your death.

Brokers have a number of different policies available from a number of leading insurers to tailor a package to suit your individual requirements. The various types of cover are described briefly below (your broker can provide advice on these policies):

Term Life Assurance: Normally the cheapest form of life cover which lasts for a set period of time. If the policyholder dies within this time the policy pays the sum assured, if they do not die then the policy lapses at the end.

Decreasing Term Assurance: This is a variation of the term life assurance, where the cover decreases over the term of the plan. It is most commonly used in to protect a repayment mortgage, where the outstanding loan also reduces over the term of the insurance.

Convertible Term Life Assurance: This again is another variant of the term life assurance which allows the policyholder to convert the plan to a Whole Life or Endowment policy at any point during the life of the plan.

Renewable Term Life Assurance: This variant of the term life assurance allows the policyholder to extend the cover for a period of time at the original ending date of the policy.

Pension Term Life Assurance: This could be any of the above versions with the benefit of being written under Personal Pension rules. If the client is eligible to hold this contract, the premiums become payable net of income tax at the client's marginal rate. This has the effect of reducing the premiums making this a very cost-effective way of providing the cover.

... and Protect your income with Critical Illness Insurance (Optional)

Protect your lifestyle with critical illness insurance. Everyone knows about protecting your mortgage with life assurance should the worst happen, but suffering a critical illness can have a similar impact on your family.

Critical illness cover pays out a lump sum if you are diagnosed with any of a range of serious conditions, which include heart disease, strokes, cancer and multiple sclerosis. The number of conditions can vary and will affect the premium paid.

Brokers can advise on the benefits of a number of critical insurance policies from a number of major insurers.

For the sake of a few pounds your family can be protected.