Life Assurance

Life Assurance is used primarily to provide money for those who may be financially dependent on you, such as family and business partners, should anything happen to you.

Illness or injury can seriously damage financial plans by forcing an individual to erode hard earned savings, or can limit the future ability to earn at the same rate as before.

A person’s protection needs are influenced by four key factors:

• Age
• Dependants
• Income
• Financial liabilities          

Mortgage

If the house is to be lived in by your partner or children then it is normal practice to ensure that the mortgage is cleared on death.

Money for dependants

 If you have financially dependent children then money will help provide for them, perhaps by allowing the surviving partner to stay at home or work part time for some years.

Business debts 

Banks and creditors often insist upon appropriate cover on key persons within a business. If you are a key person your business could insure you to provide cash flow to settle all debts and recruit a new person.

Business partners and co-directors 

Often insurance is used as part of an agreement for potential purchase of a deceased persons share in a business. Insurance provides the means of financing the buy out.

There are a range of plans available on the open market and we will use our independent research tools to find the best plan suited to your needs and more importantly to your budget.

You have probably already got life insurance to cover your mortgage, but it would be worth checking that the current level of cover is sufficient for your current needs and situation.

Contact us today to find out more about the different type of life assurance plans that are avaialable