Life Insurance

Term Assurance
Assurance/Insurance?
Mortgage Protection (Lump Sum)
Family Protection (Lump Sum)
Accident, Sickness, Unemployment
Mortgage Payment Protection
Loan Payment Protection
Income Protection
Critical Illness
Decreasing Term Assurance
Level Term Assurance
Whole of Life
Inheritance Tax

Life Insurance

If you have a family and/or a mortgage, life insurance can give you peace of mind that they will be looked after in the tragic event of your death. None of us like to think about it, but understanding how this type of insurance works could save you money.

The options

You should first look at term insurance. This temporary form of life insurance is offered by most insurance companies, a number of friendly societies and other financial providers.

It's based on a simple concept - the insurer guarantees to pay the policy benefits if you die within a given time. If you survive to the end of the policy's term, no benefit will be paid.

The term of the policy depends upon you and may be anything from a few years to several decades but it should coincide with your need for protection. Policies may be written on your life or on the life of yourself and your partner. Term insurance is the least expensive form of life cover. Be aware that premiums for men tend to be higher because on average they do not live as long as women. Premiums for smokers are more expensive.

whole of life cover?

Our specialists have access to the every life insurance policy available and are not tied to one particular company and could save you ££££s every month!

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Whole of Life (Inheritance Tax planning)

Whole of Life Insurance is available to the over 50s only.

As these policies are for 'whole of life' they are guaranteed to pay out on death. The main reason for these policies is to offer peace of mind for our children (or next of kin) in respect of funeral expenses although in some cases where the value of an estate is exceptionally high this may be used to help cover inheritance tax liability.

The current nil-rate band (2008-2009) is £312,000. An excess value above the nil rate band is liable to inheritance tax at 40%. The nil-rate band is the amount of the estate on which there is no Inheritance Tax to pay. If the estate, including any assets held in trust and gifts made within seven years of death, is less than the nil rate band, no Inheritance Tax will be due on it. There is no inheritance Tax liability due on death of and passing of the estate to spouse, but there is otherwise (in most cases this will be the estate being passed on to your children).

Inheritance Tax planning is no longer the burden of the rich as many of us may find that, with the value of the property we own, any life insurance benefits etc, we are worth significantly more than we realise. So the Taxman will get us even when we're six feet under!

However, there are ways of planning to reduce the Inheritance Tax liability so that what we've worked all our lives for does benefit those we love, rather than burdening them with the problem of dealing with the Inland Revenue at such a difficult time.

This is a very complex and specialised area of expertise as every case will be different. If you would like to speak to a specialist who can advise you on your own personal circumstances please complete our No OBLIGATION form below and someone will contact you very shortly.

Always get independent advice on these products!

To speak to an independent FSA (Financial Services Authority) regulated mortgage advisor now complete our no obligation enquiry form below. This service is completely free and your personal broker is under obligation to give you 'best advice' depending on your circumstances and requirements. Your personal independent broker may suggest other products to you that you may be unaware of.

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