Most people take out life assurance to provide for their families and alleviate any financial worries at a difficult time. There are several ways in which to protect yourself and your family from the financial impact of an untimely death. Life insurance can be classified in 4 main products:

Level Term Assurance

The policy pays you a fixed lump sum in the event of a death or diagnosis of a terminal illness within the term of the policy.

 

Decreasing Term Assurance

With decreasing cover, the value of your policy gradually reduce over the policy term until it reaches £0 – however, your premium never changes.

 

Family Income Benefit

Family income benefit is a special type of life insurance policy. With family income benefit, your loved ones will be paid a regular income for a set period.

 

Critical Illness Assurance

Critical illness cover provides a lump sum benefit in the event of diagnosis of a defined critical illness.