Most people regard life insurance as something they may need, rather than want, and often it is not fully understood. It’s important to take the right advice before purchasing life insurance so you can be sure that you have the right cover for your needs.
At Aspire Financial Services, we carry out regular and comprehensive training and have years of experience in advising on life insurance. You can trust the advice we provide, whether the insurance you require is alongside a mortgage or a simply to protect your family and leave an inheritance.
Term life insurance
A life insurance policy will provide finances for your partner and family when you die, and can offer reassurance in a time of uncertainty. They can pay out as monthly instalments or a lump sum. Many people take out life insurance to pay off a mortgage, but often forget that a mortgage is not the only outgoing each month and will also need to provide an income.
• Level cover – Level cover offers a fixed cash sum. This will remain level and neither increase or decrease over the term. Level cover offers certainty in that you know how much cover you have and for how long it will cover you.
• Decreasing cover – The total cash sum paid out will reduce over time, often in line with the decreasing value of a mortgage loan. This is the most cost effective option and is designed to cover your mortgage payments.
The purpose of all life policies is effectively the same, but in a typical modern policy different features may help you to choose between providers.
• Policies that offer discounts and rewards for maintaining a healthy lifestyle
• Policies that offer added GP services
• Policies that offer counselling, health screening, or a second medical opinion.
Your adviser can talk you through these and help you to choose the one that is most suitable for you.
How do I choose which policy is best for me?
At Aspire Financial Services we can prepare a detailed comparison report of the main added features available. In addition, we can cross reference on how the providers are independently ranked in each of these areas. During our consultation we will go through these with you and help you to match the provider to your requirements. Call now for a free 30-minute consultation.