Jargon buster

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 than 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 advisers 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.

Life insurance

Read about Endsleigh life insurance.

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