Life insurance (also known as ‘life assurance’ or ‘term assurance’) is a policy that pays out a lump sum in the event of the insured person’s death, with the purpose of protecting loved ones and dependents against financial hardship.
If the insured person dies prematurely the policy held will pay out that value to the estate assuming the premiums are paid up to date and the policy is in force.
Life insurance is usually available on a single or joint life basis with benefits including paying out on the diagnosis of a terminal illness.
The level of cover in place is dependent on sever factors, which include the age of the policyholder, number of dependants, the existing cover they have, and the type of assurance policy.
We will talk you through the various aspects of the policies available and tailor them to your individual needs.
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