Based in Poole, Apex CB Financial Planning is your local life assurance expert expert.
Life assurance is quite a straightforward product that pays out a lump sum, or an income, if you die while you are covered.
At Apex CB Financial Planning we can help you to find the right type of insurance policy for your needs and understand which options are best for you.
Family cover
This is cover that pays either a lump sum or an income, so that your family can replace your income and cover their needs. As the level of cover usually stays the same throughout the term it can also be used to pay off an interest-only mortgage.
Family cover comes in 2 forms:
- Lump sum benefits, known as Term Assurance, which provides a single payment on death within the term of cover, after which the policy ends
- Family Income Benefit, which pays a regular sum from death until the end of the policy term and replaces the income lost through bereavement
Mortgage cover
As well as inheriting assets your family will inherit your debts too. This is why it is vital to make sure that you have enough life cover to repay everything. A Mortgage Protection Policy pays out a lump sum allowing you to pay off your mortgage (or other loans) on death. The cover reduces through the term in line with a repayment mortgage and, for this reason, the premiums are usually lower.
Optional extras
When advising you on life assurance we will make sure that you know about the options you need to consider, such as:
- Terminal illness benefit, which pays out if you are diagnosed as having less than 12 months to live, allowing you to sort out your affairs, or use the money for some quality time with your loved ones
- Critical illness benefit pays out the cover if you are diagnosed with a really serious illness, such as cancer, heart attack, or one of the other potentially terminal conditions in the policy. Having available money shortly after diagnosis means choice, and the option to seek private consultations and treatment
To find out more and to discuss your needs, call 01202 622223 or contact us using our online enquiry form.
