Expert advice to help protect your family
The cheapest way to insure your life is usually a term life insurance plan. To put it simply, this covers you for a fixed period and pays out a one-off lump sum if you die during the term. With some policies you can add extra options, such as critical illness cover. This sort of plan may be for you if you want to leave a lump sum if you die within a specified time period. Term assurance can protect your family from the financial implications of your death. That is particularly relevant if you have young children or dependents. It can be used to cover a mortgage or to protect your family from having to repay a debt after the principal earner dies. As a cheaper alternative, you can also take Family Income Benefit, which pays income benefit rather than a lump sum. Our team will be able to advise you on the option that works best for you.
Please note that such a plan has no cash-in value at any time and will cease at the end of the term. If premiums are not maintained, cover will lapse.