- When did you last review your life insurance?
- Are you paying too much for your existing life insurance policies?
- How would your spouse/partner/dependents cope if you were to die tomorrow/next week/ next month? – have you cover in place?
- Have you any loans that are not covered by a life policy?
- Is your business sufficiently covered for loans/ death of a business partner/ loss of a key employee?
What are the benefits of Life Insurance?
Your dependents will not be left with debts or have to struggle financially as a result of your death.
It’s true that not everyone needs life insurance, however, if someone – your wife, your child – would be adversely affected by the loss of your income should you die, then you really should have some cover in place.
What type of life cover do I need?
There are many different types of life cover and we can advise you on which is best to suit your needs.
- Whole of Life Cover:can provide family protection as long as you and your dependants need it and usually has an investment element to it.
- Term assurance:Cover for a specified term. Some companies give the option of converting the cover beyond the original term without medical evidence.
- Company Directors Insurance or Keyman Insurance: will ensure the financial survival of your business in the event of the death of a director or key employee.
- Inheritance Tax Insurance:Provides a lump sum on death to pay any inheritance tax due to your estate.
Family Income Benefit: This is a frequently ignored form of life insurance, even though it offers appropriate cover for many people, and is cheaper than traditional forms of term assurance. A family income benefit policy will pay a monthly income to your loved ones, rather than a lump sum. This is a big selling point, as you may not want to leave your loved ones having to make complex investment decisions with the lump sum they would get from other policies upon your death. For a full explanation of family income benefit