Our advisors are fully trained to help explain all the options available to you. However we have picked out a few things we feel you might find helpful when looking into a life insurance policy for the first time. The keywords listed below are aimed to help you feel more comfortable discussing your needs.
Term - The length of your life insurance policy.
Premium – The monthly payment you make for your life insurance policy.
Sum – The amount of cover your life is insured for.
Level Term – The sum will stay the same ‘level’ throughout your policy.
Decreasing Term – Also known as Mortgage Protection, is similar to the above however, the sum will go down ‘decrease’ as in line with your mortgage or loans.
Guaranteed Premiums – Your premiums are guaranteed to stay at the same price throughout the term of your policy unless you choose to index link your policy.
Reviewable Premiums – Your premiums are likely to increase as the policy goes on.
Index linked – Protects your life insurance policy from inflation so both your premium and amount of cover will increase with the retail price index.
Trust – By writing your life insurance into trust you can avoid inheritance tax on your life insurance policy and it is likely your policy will be paid out quicker then if included as part of your estate when you die.
Critical Illness – Can be added to a life insurance policy, and will provide financial protection should you suffer from a critical illness such as cancer.
If you feel a little overwhelmed when looking into life insurance for you and your family, why not ring one of our financial advisors who can do the hard bit for you.
All you need to do is let us know a little bit about you and your life insurance needs and we can search the market on your behalf, for free.
Get a quote online www.endsleigh.co.uk/lifeinsurance or call 0800 389 2193.
Endsleigh Financial Independent Tailoring is a trading name of Endsleigh Independent Financial Services Limited which is authorised and regulated by the Financial Services Authority. This can be checked on the FSA Register by visiting its website at www.fsa.gov.uk.
Endsleigh Independent Financial Services Limited. Company No: 4132605 registered in England at Shurdington Road, Cheltenham Spa, Gloucestershire GL51 4UE.