At our heart we hold your interests above all other considerations and nowhere is that more important than finding you ways to best provide financial protection for your family and loved ones in the event of death or illness – a factor of life that cannot be ignored.
It is true that we never want to face up to the reality about it but should the worst happen, would your family be protected? Life assurance and Protection Policies offer valuable financial protection and peace of mind in the event of death, especially where you have a family dependant on you and/or your income. This could provide a lump sum or an income payable on death, over a specific term of years e.g. the term of your mortgage. Benefits payable could form part of your estate, if not written in trust and could be liable for inheritance tax, if the value of your estate is above a certain threshold. All policies will be subject to satisfactory medical underwriting. Life cover can be on a decreasing term basis, designed for protecting repayment mortgages which means the sum assured decreases in line with the reducing balance of the mortgage, over the mortgage term. It is possible to have guaranteed life insurance premiums on fixed monthly payments. This means for the term of the policy the payments will not change even if your health does.
Level Term Assurance
Provides a guaranteed lump sum to be paid on the death of the life / lives assured, throughout the term of the policy. Premiums paid are level for the duration of the plan. This could provide an amount equal to that of a mortgage loan outstanding, e.g. interest only, a non-mortgage debt or liability. There is normally no cash value, as it is giving you valuable protection and the best value.
This type of policy is designed so that the amount of benefit payable would be sufficient to repay the amount of mortgage outstanding, throughout the mortgage term i.e. a capital and interest repayment mortgage. If you die during the policy term your insurer will pay the calculated amount of cover at that time. The strategy we arrive at for you will also include provision for the protection of debts, including mortgages, to ensure your family remains wholly supported should the unmentionable happen. And, of course, we’ll fully explore every feasible angle of your life protection plan to ensure your tax obligations are assessed and fully minimised
To find out more how All Saints Financial can help you prepare for the unexpected Ring 01604 245486 NOW.