Protection
Life Assurance in Lowestoft
Term / Life Assurance
At their most basic, these are policies where you have a fixed sum assured for a fixed period of time, eg £100,000 for 20 years.
If you survive the term, you get nothing. There is no element of investment.
As a rule, if you need to make any changes these will be at the discretion of the insurance company (though some contracts will allow special occasion changes, such as being allowed to increase your cover if you have a child).
- Cost - they are cheap and if you have a requirement for a simple insurance of this nature you get maximum value for your money.
- You can, if you wish, add Critical Illness as part of the policy which means that if you suffer a specified illness or condition (for example some forms of Heart Attack) and live, then regardless of whether you can return to work or not the sum assured could be paid out.(please note, the policy and conditions can often be complex and would depend on the severity of the heart attack etc.)
Call the Family Finance Centre Ltd today to discuss your Life assurance in Lowestoft.
Permanent Health Insurance
Short of dying, one of the most devastating things that can happen to most people during their normal working life is to become ill or disabled and forced to live on State Benefits through being unable to work. Sorry if that sounds like it is being overly dramatic, but it is the truth.
Ask yourself what will happen if you become too ill to work? Will you be able to keep up the mortgage payments? What State Benefits will you get? How long will your savings last? For how long will your employer pay you?
Permanent Health Insurance pays out a defined amount on a regular basis until your return to work or the expiry date of the policy, whichever is sooner. Therefore, in the event of a claim and payment being made, your financial worries will be reduced.
Critical Illness
In the old days if you were taken ill then recovered you simply went back to work or if you died your family received your life assurance. Modern medicine has increased the survival rates for some illnesses, although these will often require lengthy treatment and recovery periods. Many people can find themselves with conditions for which, not to put too fine a point on it, a cash injection is a great aid to recovery or can simply ease any added stress regarding financial concerns.
To be told by your doctor that "you have had a heart attack and that the stress of your work is partly to blame, so stop working or die" is not, if you have a mortgage to pay and a family to keep, advice that is easy or even possible to take.
If you have a Critical Illness policy you could receive a lump sum payment, providing that you meet the conditions of the policy. The lump sum could be used for a number of purposes, such as assisting with Mortgage payments or the cost of medical care.
Call Today for Help With Life Assurance in Lowestoft
Whether it's Life Assurance in Lowestoft or you need a financial review in Lowestoft, call the Family Finance Centre Ltd today for the best in independent financial advice. Or click onto our main site for more information on our services.
