Whether you're looking to provide a financial safety net for your loved ones, moving house or a first time buyer looking to arrange your mortgage life insurance - or simply wanting to add some cover to what you've already got - you'll want to make sure you choose the right type of cover. That's why obtaining the right advice and knowing which products to choose – including the most suitable sum assured, premium, terms and payment provisions – is essential.
Life assurance helps your dependants to cope financially in the event of your premature death. When you take out life assurance, you set the amount you want the policy to pay out should you die – this is called the 'sum assured'. Even if you consider that currently you have sufficient life assurance, you'll probably need more later on if your circumstances change. If you don't update your policy as key events happen throughout your life, you may risk being seriously under-insured.
As you reach different stages in your life, the need for protection will inevitably change. These are typical events when you should review your life assurance requirements:
Buying your first home with a partner. Having other debts and dependants. Getting married or entering into a civil partnership.
Starting a family
Becoming a stay-at-home parent
Having more children
Moving to a bigger property
Changing your job
Relying on someone else to support you Personal guarantee for business loans Your life assurance premiums will vary according to a number of different factors, including the sum assured and the length of your policy (its 'term'), plus individual lifestyle factors such as your age, occupation, gender, state of health and whether or not you smoke... Click Here to read further and to download 'A Guide to Protection Planning'.
"How would you pay the bills if you were
sick or injured and couldn't work?"
CFS Independent Financial Advisers Limited
Lower Blyth Suite, Kirkley Hall, Ponteland, Newcastle upon Tyne, NE20 0AQ
Telephone: 01661 821110
Fax: 01661 821120
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