|
Life Assurance comes in a variety of forms.
It does not matter how it is packaged. The bottom
line is that it will pay out a sum of money in the event of
death - whether that occurs earlier than might ordinarily be
the case or not.
Of course, we will all die at some time in the
future. The question is whether one protects against the inevitability
of death or merely the possibility of death occurring during
a particular period of time.
Even if you do not have any dependents reliant
on your earnings for their security, you may wish to ensure
that in the event of your death, sufficient money is available
to quickly tidy up your affairs.
Life Assurance can be combined with savings plans
to generate tax free sums of money at a known time in the future
for use in paying off loans like mortgages. It can similarly
generate a tax free cash sum upon eventual death for use in
mitigating Inheritance Tax or just as a gift on death for specified
recipients.
Life Assurance can be combined with other forms
of protection like Critical Illness cover where it protects
against the effects of long term illness, disease or disability.
Circumstances that stop us from maintaining our working life
and therefore, reduce or remove our ability to earn. Stand alone
Critical Illness cover can exist too.
Other forms of life assurance such as Permanent
Health Insurance, Mortgage Interest Payment Protection and Health
Insurance are specialised variants which protect the continuity
of income flow, critical out-goings or costs of hospital treatment
so that the one's standard of living does not suffer in times
of particular hardship.
Either way, when you think about it, we all have
some degree of responsibility to either our dependents or ourselves.
So have you got sufficient cover to protect your standard of
living and that of your family - and which suites your needs
best?
To help you calculate the amount of cover that
you may need, either use one of our handy calculators or
contact us with your details.
Useful Calculators
To help determine whether you have adequate life
insurance cover, click on Life
Insurance Audit
To contact us regarding PHI
click here.
|
