The right life insurance policies for you

Save this PDF as:
 WORD  PNG  TXT  JPG

Size: px
Start display at page:

Download "The right life insurance policies for you"

Transcription

1 The right life insurance policies for you

2 THE RIGHT LIFE INSURANCE POLICIES FOR YOU Once you have chosen on whose life the policy should be taken out, how much money is needed and when and the best way to ensure that the right person or people get the money, you can then consider which type of life insurance policy to have. At first sight, this looks very complex but, like choosing a home or car, it is simpler if you understand the basic types. When it comes to life insurance, there are three main types: Term insurance pays if you die only during the term of the policy. Whole of life insurance pays whenever you die. Endowment insurance pays if you die during the term of the policy or at the end. Term insurance Level term Pays a fixed sum if you die during the term. Policies may also be renewable (can be extended at the end of the term) or convertible (to a whole of life or endowment policy), or both. Decreasing term As level term, but the sum insured falls each year. Mortgage protection As decreasing term, but the fall is in line with the outstanding capital on a repayment (or capital and interest) mortgage. The maths means that the higher your mortgage interest rate, the slower the outstanding mortgage capital falls each year. So, when it comes to choosing this type of policy, make sure the interest rate matches your mortgage (and will go on doing so if the rate rises in future), or that the rate is higher than the interest rate you expect at any time during your mortgage. Family income benefit This pays an annual sum if you die during the term of the policy and pays until the end of the term. So, if you died in year one of a 20-year policy, the annual sum would be paid 20 times; if you died in the last year, it would only be paid once. This type of policy can provide the highest initial cover for the lowest cost. Whole life insurance Whole life insurance simply lasts as long as you do. Premiums are usually more expensive than for term insurance because of the certainty that the sum insured will eventually be payable. Whole life is most valuable when the need for cover is permanent. To help keep costs low, insurers often offer: Reviewable premiums Premiums may be fixed for five or ten years only. Extra cover This means that the premium is artificially low initially but will rise later. The increase, usually after five or ten years, can be very significant. The most extreme example is a maxi cover policy offering the highest sum insured for the lowest initial premium but the biggest rise later (perhaps ideal if your income is low today but you expect it to rise swiftly in future). All Rights Reserved Page 1 of 3

3 Surrender values Because whole life policies are designed to pay out eventually, if you stop a policy early, the insurer may pay a surrender vale (or cash value) or convert the policy to paid up (the sum insured continues but is much lower and you stop paying premiums completely). To be able to offer lower premiums, some insurers no longer include surrender values as with term insurance, if you stop paying premiums, the policy simply then stops without value. Low start Premiums start off artificially low, then increase, usually every year. Insurers may also offer: With profits The insurer will declare a bonus dividend every year, which is added to the sum insured. Such policies are more expensive, but in effect the sum insured rises each year (though it is not guaranteed to do so that will depend on how well the insurance company performs and the bonuses it declares). Unit linking Similar to with profits, but premiums are invested into insurance funds, which will go up and down in line with the investments held and any income they may receive. Premiums limited to a particular age For example, 85 or 100. After that, the cover continues but no more premiums are paid. Endowments Traditionally, endowments were used to build up a cash sum at the end of the policy term, e.g. to pay off a mortgage. They also pay out on death during the term. Endowments are primarily savings plans, but also include life insurance. They tend to be used only for specialised purposes today, and are now rarely used to fund a mortgage. Add-ons Life insurers may also offer life insurance linked in with other types of protection. For example, an insurer may offer a term insurance that also includes critical illness insurance or income protection. You can find out more about these types of cover. Waiver of premium means that if you are unable to work because of illness or disability, the insurer will pay the premiums for you. There is an initial waiting or deferred period of three to six months after such an event occurs, and an extra premium is charged for this benefit. Many insurers will offer free trust wordings to enable you to leave the policy to beneficiaries on your death. We can advise you on how this might benefit you. Other useful terms There are some other phrases you may come across. Assurance or insurance? Technically, insurance covers things that might happen (such as dying in the next 20 years), whereas assurance covers something that will happen (such as dying eventually). Don t worry about the difference we simply use the term insurance to cover both. Reviewable or guaranteed Guaranteed premium rates are fixed for the whole term. Reviewable rates (which are cheaper) can be changed by the insurer, which will do so having taken account of factors such as life expectancy, investment returns and expenses. Reviewable rates will be cheaper initially and may remain cheaper, but there is a risk that they might go up in future and, especially at older ages, any increase could be significant. If that happens, you may have the option of reducing the sum insured as an alternative. All Rights Reserved Page 2 of 3

4 Increasable, escalating or index linked The sum insured will rise each year (or every three or five years) by a fixed amount, or in line with an index. The most common indices are the Retail Prices Index (RPI) or the Average Weekly Earnings (AWE). AWE usually rise faster than RPI, although this has not been the case in recent years. Increasable policies can help offset the effects of inflation. Where cover rises, the premium will usually rise more, because you will then be older. Guaranteed insurability This gives you the option to increase cover in future, up to a pre-set limit or limits, without new underwriting. Typically, it allows you to increase cover by up to 50% on marriage, moving home, birth or adoption of a child, promotion at work or on receiving a legacy. Rules vary from insurer to insurer, so it pays to check the small print. Inter-vivos This is a special type of decreasing term insurance that lasts for seven years. It is used in inheritance tax planning. Term 100 An alternative to whole life insurance, this runs to age 100. But some people do live longer than that! This guide is for general information only and is not intended to be advice to any speci recommended to seek competent professional advice before taking or refraining from taking action on the The Financial Conduct Authority (FCA) does not regulate tax advice, so it is outside the investment protection rules of the Financial Services and Markets Act and the Financial Services Compensation Schem represents our understanding of the law and HM Revenue & Customs practice as at April 2014, which are All Rights Reserved Page 3 of 3

5 Thank you for your interest in this Essential Guide. For further information or if you would like to discuss any aspect of the guide, please contact us. EA Financial Solutions Ltd 869 High Road Finchley London N12 8QA +44(0) All Rights Reserved

KEY GUIDE Financial protection for you and your family

KEY GUIDE Financial protection for you and your family Kelvin Financial Planning Ltd KEY GUIDE Financial protection for you and your family Introduction Most of us believe that taking out life and other forms of protection insurance is a good thing to do.

More information

KEY GUIDE. Financial protection for you and your family

KEY GUIDE. Financial protection for you and your family KEY GUIDE Financial protection for you and your family Introduction Most of us believe that taking out life and other forms of protection insurance is a good thing to do. Protecting your family should

More information

Financial protection for you and your family

Financial protection for you and your family Financial protection for you and your family Introduction Most of us believe life and other forms of protection insurance is a good thing. Protecting your family should underpin financial planning and

More information

KEY GUIDE. Financial protection for you and your family

KEY GUIDE. Financial protection for you and your family KEY GUIDE Financial protection for you and your family Protecting what matters most Life and health insurance protection underpins most good financial planning. These types of insurance can ensure that

More information

Choosing life policies

Choosing life policies Choosing life policies CHOOSING LIFE POLICIES Most people believe that life insurance is a good thing. For most of us, it underpins our financial planning, protecting our family, while for others it can

More information

Business insurance and succession planning

Business insurance and succession planning Business insurance and succession planning BUSINESS INSURANCE AND SUCCESSION PLANNING Owning a business can be a very rewarding experience. But what happens if a business owner dies or falls seriously

More information

Key person insurance

Key person insurance Key person insurance KEY PERSON INSURANCE Most businesses and other organisations have people whose departure could have a serious financial impact on the business. Naturally, this includes the business

More information

B1.03: TERM ASSURANCE

B1.03: TERM ASSURANCE B1.03: TERM ASSURANCE SYLLABUS Term assurance Increasing term assurance Decreasing term assurance Mortgage protection Renewable and convertible term assurance Pension term assurance Tax treatment Family

More information

Life Insurance Buyer's Guide

Life Insurance Buyer's Guide Life Insurance Buyer's Guide This guide can help you get the most for your money when you shop for life insurance. It can help you answer questions about: Buying Life Insurance Deciding How Much You Need

More information

Friends Life Protection Account Key features of Life Cover

Friends Life Protection Account Key features of Life Cover Protection Friends Life Protection Account Key features of Life Cover Why is this document important? The Financial Services Authority is the independent financial services regulator. It requires us, Friends

More information

LONG TERM CARE. Who needs care? How much does care cost? Can I get help from the government?

LONG TERM CARE. Who needs care? How much does care cost? Can I get help from the government? Long term care LONG TERM CARE Long-term care is the term used for someone who needs professional care every day. The need for such care may follow an event such as a stroke or be the result of frailty

More information

Purposes of life insurance include providing financial security, funding business continuation and satisfying estate tax requirements among others.

Purposes of life insurance include providing financial security, funding business continuation and satisfying estate tax requirements among others. Life Insurance Frequently Asked Questions What is life insurance? Life insurance is a contract between an insurance company and the insurance policy owner(s). The insurance company pays a cash amount or

More information

For expert advice call 01494 451441

For expert advice call 01494 451441 Protection Planning Life and Protection Insurance The cost of insurance, particularly life insurance has fallen over recent years, whilst the quality of cover has in many cases increased. With this in

More information

Life and protection insurance explained

Life and protection insurance explained protection? Life and protection explained A guide to personal and family protection This guide explains the types of life and protection available and how they can offer you valuable peace of mind. If

More information

INCOME WHEN YOU ARE ILL

INCOME WHEN YOU ARE ILL INCOME WHEN YOU ARE ILL Income protection insurance (IPI) or permanent health insurance (PHI) is an insurance that virtually everyone who works needs, but very few people have. One of the reasons for this

More information

CHOICE. PERSONAL PROTECTION LEVEL OR DECREASING TERM ASSURANCE

CHOICE. PERSONAL PROTECTION LEVEL OR DECREASING TERM ASSURANCE PERSONAL PROTECTION LEVEL OR DECREASING TERM ASSURANCE CHOICE. One of the many choices your clients will need to make is what level of term assurance they ll require. This flyer highlights the differences

More information

LIFE AND PROTECTION INSURANCE EXPLAINED

LIFE AND PROTECTION INSURANCE EXPLAINED LIFE AND PROTECTION INSURANCE EXPLAINED INTRODUCTION Most of us would like to think that when our lives come to an end, we ll be old, our loved ones will be financially secure and our financial responsibilities

More information

Life Insurance Buyer's Guide Prepared by the National Association of Insurance Commissioners

Life Insurance Buyer's Guide Prepared by the National Association of Insurance Commissioners Life Insurance Buyer's Guide Prepared by the National Association of Insurance Commissioners Buying Life Insurance How much do you need? What is the Right Kind? Finding a Low Cost Policy Things to Remember

More information

A Guide to Life Insurance Cover Creating your success through Financial Planning

A Guide to Life Insurance Cover Creating your success through Financial Planning & Guidance A Guide to Life Insurance Cover A Guide to Life Insurance Cover Financial Broker Contents How can I protect my family financially if I die? 02 What is life insurance? 03 What is a Financial

More information

A Guide to Life Insurance Cover Creating your success through Financial Planning

A Guide to Life Insurance Cover Creating your success through Financial Planning & Guidance A Guide to Life Insurance Cover Contents How can I protect my family financially if I die? 02 What is life insurance? 03 What is a Financial Broker? 06 Why would I need to use a Financial Broker?

More information

Reasons why AIG YourLife Plan / Low Start (all options)

Reasons why AIG YourLife Plan / Low Start (all options) AIG Life Reasons why AIG YourLife Plan / Low Start (all options) There are many different reasons why AIG s YourLife Plan / Low Start may or may not be suitable in particular circumstances. The following

More information

Life Insurance Buyer s Guide

Life Insurance Buyer s Guide United of Omaha Life Insurance Company Life Insurance Buyer s Guide Prepared by the National Association of Insurance Commissioners The National Association of Insurance Commissioners is an association

More information

Life Insurance Buyer s Guide

Life Insurance Buyer s Guide Life Insurance Buyer s Guide This guide can show you how to save money when you shop for life insurance. It helps you to: - Decide how much life insurance you should buy, - Decide what kind of life insurance

More information

VITALITYLIFE PLAN PROVISIONS VITALITY.CO.UK/LIFE

VITALITYLIFE PLAN PROVISIONS VITALITY.CO.UK/LIFE VITALITYLIFE PLAN PROVISIONS VITALITY.CO.UK/LIFE VitalityLife Plan Provisions This document is your plan provisions. It explains how your plan works. It includes details about the covers and options in

More information

Your guide to participating life insurance SUN PAR PROTECTOR SUN PAR ACCUMULATOR

Your guide to participating life insurance SUN PAR PROTECTOR SUN PAR ACCUMULATOR Your guide to participating life insurance SUN PAR PROTECTOR SUN PAR ACCUMULATOR Participate in your brighter future with Sun Life Financial. Participating life insurance is a powerful tool that protects

More information

Flexible Life Plan Key Features

Flexible Life Plan Key Features Flexible Life Plan Flexible Life Plan Key Features This document shows the main points about your plan. Please read it with your personal illustration and keep it with the other documents relating to your

More information

D1.03: MORTGAGE REPAYMENT OVERVIEW

D1.03: MORTGAGE REPAYMENT OVERVIEW D1.03: MORTGAGE REPAYMENT OVERVIEW SYLLABUS Repayment mortgages Repayment profile Interest only mortgages Full and low cost endowment mortgages Unit-linked endowment mortgages ISA mortgages Pension mortgages

More information

Single premium whole life. Classic Single Premium Life. Providing lifelong insurance protection with a single payment

Single premium whole life. Classic Single Premium Life. Providing lifelong insurance protection with a single payment Single premium whole life Classic Single Premium Life Providing lifelong insurance protection with a single payment Classic Single Premium Life Leaving a lasting legacy through financial support is something

More information

Life and protection insurance explained!

Life and protection insurance explained! Life and protection insurance explained! Introduction Some things are certain in life, like the fact that one day, we ll die. Most of us would like to think that when that day comes we ll be old, our loved

More information

Life and Protection Insurance explained

Life and Protection Insurance explained OPW 01 (03/11) Demographik Life and Protection Insurance explained Openwork Limited is authorised and regulated by the Financial Services Authority. Registered in England 4399725. Registered office: Tri

More information

The right health insurance policies for you

The right health insurance policies for you The right health insurance policies for you THE RIGHT HEALTH INSURANCE POLICIES FOR YOU Choosing the right health insurance policy is not just about buying cover at the cheapest price. Getting peace of

More information

London Life term life insurance

London Life term life insurance Your guide to London Life term life insurance C o v e r a g e t h a t c a n c h a n g e w i t h y o u Term life insurance from London Life London Life term life insurance enables you to buy the protection

More information

Important information. Key Features of the Flexible Life Plan (top-up payments)

Important information. Key Features of the Flexible Life Plan (top-up payments) Important information Key Features of the Flexible Life Plan (top-up payments) > Contents About this booklet 4 About the Flexible Life Plan (top-up payments) 4 Its aim 5 Your commitment 5 Risks 6 Questions

More information

VantagePoint SM. Genworth Life and Annuity Insurance Company Genworth Life Insurance Company. with Return of Premium. Underwritten by: Lynchburg, VA

VantagePoint SM. Genworth Life and Annuity Insurance Company Genworth Life Insurance Company. with Return of Premium. Underwritten by: Lynchburg, VA VantagePoint SM Term Life Insurance with Return of Premium Underwritten by: Genworth Life and Annuity Insurance Company Genworth Life Insurance Company Lynchburg, VA 44453 10/27/08 Why you need life insurance?

More information

Deciphering Life Insurance Options: How Choosing the Right Policy Can Help Safeguard Your Earning Potential and Savings

Deciphering Life Insurance Options: How Choosing the Right Policy Can Help Safeguard Your Earning Potential and Savings How Choosing the Right Policy Can Help Safeguard Your Earning Potential and Savings 1 Many people think of life insurance as something they ll need when they get a bit older and want to ensure their loved

More information

Your guide to Great-West Life Participating life insurance

Your guide to Great-West Life Participating life insurance Your guide to Great-West Life Participating life insurance This guide provides a high-level overview of key features of Great-West Life participating life insurance. After you review this guide, talk with

More information

Key Person Coverage. Prepared for: Date: Presented by:

Key Person Coverage. Prepared for: Date: Presented by: Key Person Coverage Prepared for: Date: Presented by: PURPOSE This presentation is for the purpose of helping you understand how life and disability income insurance can be used to overcome the shock to

More information

Life Insurance Buyer s Guide

Life Insurance Buyer s Guide Page 1 of 5 Life Insurance Buyer s Guide Illinois This guide can show you how to save money when you shop for life insurance. It helps you to: Decide how much life insurance you should buy, Decide what

More information

Flexible Protection Plan. Protecting your lifestyle and family with one simple plan

Flexible Protection Plan. Protecting your lifestyle and family with one simple plan Flexible Protection Plan Protecting your lifestyle and family with one simple plan Contents Introduction Income Protection Life Protection Critical Illness Protection Protection with a heart Extra things

More information

Guide to Reading the Guaranteed Choice Whole Life Annual Statement

Guide to Reading the Guaranteed Choice Whole Life Annual Statement Guide to Reading the Annual Statement combines the valuable guarantees of whole life insurance with the flexibility to meet your evolving needs and help ensure a lifetime of possibilities. It offers guaranteed

More information

Life Insurance. A Consumer s Guide to INSURANCE FACTS. for Pennsylvania Consumers. 1-877-881-6388 Toll-free Automated Consumer Line

Life Insurance. A Consumer s Guide to INSURANCE FACTS. for Pennsylvania Consumers. 1-877-881-6388 Toll-free Automated Consumer Line INSURANCE FACTS for Pennsylvania Consumers A Consumer s Guide to Life Insurance 1-877-881-6388 Toll-free Automated Consumer Line www.insurance.state.pa.us Pennsylvania Insurance Department Website Buying

More information

CCL Simplicity. Financial Report prepared for. David & Ruth East. 19 July 2007. This report is a summary of discussions held with.

CCL Simplicity. Financial Report prepared for. David & Ruth East. 19 July 2007. This report is a summary of discussions held with. Financial Report prepared for David & Ruth East on 19 July 2007 This report is a summary of discussions held with Nick Bewley on 11 May 2007 The following recommendations are based upon the information

More information

Illinois Insurance Facts Illinois Department of Insurance

Illinois Insurance Facts Illinois Department of Insurance Illinois Insurance Facts Illinois Department of Insurance Buying Life Insurance Updated January 2010 Note: This information was developed to provide consumers with general information and guidance about

More information

What is Life Cover? Ensure the financial survival of your business, in the event of the death of a key employee or director.

What is Life Cover? Ensure the financial survival of your business, in the event of the death of a key employee or director. What is Life Cover? Life cover pays out a lump sum of money if the individual insured dies within a certain time period i.e. during the term of the policy. It is a lump sum and it can be used for a number

More information

KEY FEATURES OF THE MORTGAGE REVIEW PLAN. Important information you need to read

KEY FEATURES OF THE MORTGAGE REVIEW PLAN. Important information you need to read KEY FEATURES OF THE MORTGAGE REVIEW PLAN Important information you need to read THE FINANCIAL CONDUCT AUTHORITY IS A FINANCIAL SERVICES REGULATOR. IT REQUIRES US, SCOTTISH WIDOWS, TO GIVE YOU THIS IMPORTANT

More information

Horizon Universal Life Insurance

Horizon Universal Life Insurance Horizon Universal Life Insurance Discover More In Life 63992 MK3227(0209) TC46323(0209) Experience Life Now you can protect your home, family, business and future all in one policy. If your need is death

More information

You can protect their future

You can protect their future Term life insurance You can protect their future Your 5-minute Guide Help build family security In today s ever-changing financial environment, it s important to know there are some things you don t have

More information

We keep our promises.

We keep our promises. We keep our promises. So you can keep yours. It s a selfless act. The decision you make today is for someone else s future. Purchasing life insurance is about more than just planning for the future. It

More information

Money Stages of Whole Life Your Freedom Guaranteed

Money Stages of Whole Life Your Freedom Guaranteed Money Stages of Whole Life Your Freedom Guaranteed A Consumer Guide for Illustration Understanding Using Guardian Whole Life Paid-Up at Age 121 Whole Life Insurance Permanent life insurance is designed

More information

CHAPTER 8 TAX CONSIDERATIONS

CHAPTER 8 TAX CONSIDERATIONS CHAPTER 8 TAX CONSIDERATIONS Life insurance traditionally has enjoyed favorable tax treatment. The major advantages are (1) the death benefits of a life policy payable to a beneficiary are not subject

More information

Key facts of. AA Life Insurance. Provided by Friends Provident. AA Life Insurance

Key facts of. AA Life Insurance. Provided by Friends Provident. AA Life Insurance Key facts of AA Life Insurance Provided by Friends Provident AA Life Insurance AA Life Insurance AA Life Insurance is provided by Friends Provident. We, us and our in this document mean Friends Provident.

More information

The Investment Bond s key features Important info you need to read

The Investment Bond s key features Important info you need to read The Investment Bond s key features Important info you need to read Before applying for the Investment Bond, please read the Key Features, which you ll find on the next few pages. The Key Features explain

More information

LIFE INSURANCE KEY FACTS

LIFE INSURANCE KEY FACTS GENERAL INSURANCE CONCEPTS LIFE INSURANCE KEY FACTS A condition that could result in a loss is known as an EXPOSURE. An insurer is responsible for all acts of their agents as long as the agent operates

More information

Policy Summary of Life Cover

Policy Summary of Life Cover Policy Summary of Life Cover FLIP/4573/Jan14 This policy summary contains key information about Friends Life Individual Protection Life Cover. You should read this summary carefully and keep it in a safe

More information

Life Insurance Tutorial & Calculation Worksheet

Life Insurance Tutorial & Calculation Worksheet Life Insurance Tutorial & Calculation Worksheet Provided By NAVY MUTUAL AID ASSOCIATION Henderson Hall, 29 Carpenter Road, Arlington, VA 22212 Telephone 800-628-6011-703-614-1638 - FAX 703-945-1441 E-mail:

More information

Life Insurance Income Taxation in brief

Life Insurance Income Taxation in brief Life Insurance Income Taxation in brief Income Tax Treatment of Life Insurance Tax deferred growth Tax favored withdrawals Tax free death benefit Tax Deferred Growth Gain due to cash value growth in life

More information

A Guide to Income Protection (Permanent Health Insurance)

A Guide to Income Protection (Permanent Health Insurance) A Guide to Income Protection (Permanent Health Insurance) This guide about Income Protection (Permanent Health Insurance) Insurance is designed to help you decide if this is a suitable product for you.

More information

Business succession planning

Business succession planning KEY GUIDE Business succession planning When disaster strikes What happens to a business if its owner or co-owner dies or falls seriously ill? Much will depend on the type of business sole trader, partnership

More information

Information Guide Booklet. Life Insurance

Information Guide Booklet. Life Insurance Information Guide Booklet Life Insurance This Information Guide booklet provides you with general information only. It will also help you to better understand any recommendations we have made for you.

More information

Max Life Whole Life Participating Plan UIN: 104N004V01

Max Life Whole Life Participating Plan UIN: 104N004V01 About Max Life Whole Life Participating Insurance Plan. Life is a long journey and a companion who is with you at each milestone of the way, is welcome. So as you walk down the path of life, let Max Life

More information

Discover What s Possible

Discover What s Possible Discover What s Possible Guaranteed Choice SM Whole Life for Business Guaranteed Choice SM for Business Owners Whole Life There is comfort in predictability There s a certain comfort that comes with knowing

More information

Your guide to Canada Life s participating life insurance. Estate Achiever Wealth Achiever

Your guide to Canada Life s participating life insurance. Estate Achiever Wealth Achiever Your guide to Canada Life s participating life insurance Estate Achiever Wealth Achiever This guide provides an overview of key features of participating life insurance products offered by Canada Life.

More information

Lifetime Protection Plan from Standard Life Protecting you and your family

Lifetime Protection Plan from Standard Life Protecting you and your family Lifetime Protection Plan from Standard Life Protecting you and your family Remember when you thought you were invincible 1 of 33 2 of 33 When was the last time you felt invincible? Contents The need for

More information

Please read this document carefully as it contains important information about this plan. Your VitalityLife plan summary VITALITYLIFE PLAN SUMMARY

Please read this document carefully as it contains important information about this plan. Your VitalityLife plan summary VITALITYLIFE PLAN SUMMARY Please read this document carefully as it contains important information about this plan Your VitalityLife plan summary VITALITYLIFE PLAN SUMMARY Your VitalityLife plan summary About this booklet This

More information

Homeplan Key Features

Homeplan Key Features Homeplan Key Features This is an important document. Please read it and keep for future reference. The Financial Conduct Authority is a financial services regulator. It requires us, Standard Life, to give

More information

Helping you understand inheritance tax planning. We ll help you get there

Helping you understand inheritance tax planning. We ll help you get there Helping you understand inheritance tax planning investments pensions PROTECTION We ll help you get there As Benjamin Franklin said, In this world nothing is certain but death and taxes. Inheritance tax

More information

Key features of the Whole Life Protection Plan

Key features of the Whole Life Protection Plan IMPORTANT INFORMATION This information may be downloaded to your PC in whole or in part provided that any reproduction or copy, or any derivative, is true to the original, and it is EITHER used for personal

More information

Life Insurance Basics

Life Insurance Basics Next Plateau Consulting LLC Frank Washelesky 455 N. Cityfront Plaza Dr. NBC Tower - Suite 2600 Chicago, IL 60611-5379 312-670-0500 fwashelesky@next-plateau.com www.next-plateau.com Life Insurance Basics

More information

Protecting your lifestyle and your wealth

Protecting your lifestyle and your wealth Protecting your lifestyle and your wealth Life assurance Critical illness cover Income protection Key person and partnership protection Over 30 years experience providing independent pension advice to

More information

Life Insurance. Single Premium Life Insurance

Life Insurance. Single Premium Life Insurance Life Insurance Life insurance provides cash for many important expenses to help survivors deal with a number of pressing financial issues after the loss of a loved one. Proceeds from a life insurance policy

More information

Preferred Universal Life SM

Preferred Universal Life SM A new solution for the concerns of a long life. Preferred Universal Life SM M3275-TX Allianz Life Insurance Company of North America Preferred Universal Life New times demand a new solution. For past generations,

More information

Like all other permanent (cash value) policies, a whole life policy contains the following features:

Like all other permanent (cash value) policies, a whole life policy contains the following features: Whole Life What is it? Permanent (cash value) life insurance Whole life insurance is called permanent protection, meaning the coverage (and possibly the premiums) lasts for your entire (whole) life, as

More information

Key Features of the Whole of Life Protection Plan.

Key Features of the Whole of Life Protection Plan. WHOLE WHOLE OF OF LIFE LIFE PROTECTION PLAN KEY FEATURES Key Features of the Whole of Life Protection Plan. LIFE ASSURANCE This is an important document which you should keep safely in case you need it

More information

LIFE INSURANCE TERMS

LIFE INSURANCE TERMS LIFE INSURANCE TERMS Insured The insured is the covered individual on any life insurance policy. The insurance policy covers the life of the insured. Insurability Insurability refers to an individual's

More information

An introduction to Dentists Provident and income protection

An introduction to Dentists Provident and income protection An introduction to Dentists Provident and income protection An introduction to Dentists Provident and income protection We are the market leading provider of income protection insurance to dentists, and

More information

Caring for longer than a lifetime

Caring for longer than a lifetime Life insurance Caring for longer than a lifetime Your 5-minute Guide Life goes on prepare for it Your love for your family will live forever. However, we all know we won t live forever. Life insurance

More information

AIG Life. Whole of Life Insurance. Key Facts

AIG Life. Whole of Life Insurance. Key Facts AIG Life Whole of Life Insurance Key Facts Contents Page Welcome to AIG 3 Section A: About Whole of Life Insurance A1 What is Whole of Life Insurance? 4 A2 Whole of Life Insurance aims 4 A3 How does Whole

More information

Life insurance quote. Who the policy covers. Your total monthly payment will be: 14.60. This quote is only valid for 30 days

Life insurance quote. Who the policy covers. Your total monthly payment will be: 14.60. This quote is only valid for 30 days Life insurance quote This quote has been prepared for Mr Rick Jones by LifeQuotes4U on 30th April 2013. You should read the details of your quote in conjunction with the Key Features in order to make your

More information

MORE CHOICE MORTGAGE CENTRE MORTGAGE GUIDE

MORE CHOICE MORTGAGE CENTRE MORTGAGE GUIDE MORE CHOICE MORTGAGE CENTRE MORTGAGE GUIDE All you need to know about buying and protecting your home THE FSA More Choice Financial Ltd, The Rufus Centre, Steppingley Road, Flitwick Beds MK45 1AH is authorised

More information

Includes Tips & Tricks that could save you substantial $$$ and help make sure your claims get paid.

Includes Tips & Tricks that could save you substantial $$$ and help make sure your claims get paid. Includes Tips & Tricks that could save you substantial $$$ and help make sure your claims get paid. WHAT IS INSURANCE? It s simply the transference of a risk from yourself to the Insurer. By paying the

More information

2) You must then determine how much of the risk you are willing to assume.

2) You must then determine how much of the risk you are willing to assume. CHAPTER 4 Life Insurance Structure, Concepts, and Planning Strategies Where can you make a Simpler living as a needs financial planner? 1) Wealthy clients have a much higher profit margin. The challenge

More information

Your guide to Term Insurance

Your guide to Term Insurance Protection Solutions Your guide to Term Insurance with Standard Life Making Retirement Better Grow. Protect. Live. Transfer. Hello. More and more people are looking for financial security that will get

More information

POLICY TERMS AND CONDITIONS.

POLICY TERMS AND CONDITIONS. TERM ASSURANCE POLICY TERMS AND CONDITIONS. T&C 60 2 TERM ASSURANCE POLICY TERMS AND CONDITIONS CONTENTS. 1. DEFINITIONS EXPLAINED 3 2. INTRODUCTION 4 2.1 Who is covered? 2.2 Amount of cover 2.3 Period

More information

Protect your family with the right amount of Supplemental Life Insurance

Protect your family with the right amount of Supplemental Life Insurance Protect your family with the right amount of Supplemental Life Insurance You may have a small amount of Basic Life Insurance, but would it be enough to protect your family if something happened to you?

More information

A Story of Guarantees and Financial Versatility

A Story of Guarantees and Financial Versatility A Story of Guarantees and Financial Versatility Whole Life Insurance A Consumer Brochure for Whole Life Understanding Introduction Whole life is a versatile financial product that provides unique benefits

More information

Life Insurance Buyer s Guide

Life Insurance Buyer s Guide Life Insurance Buyer s Guide This guide can show you how to save money when you shop for life insurance. It helps you to: - Decide how much life insurance you should buy, - Decide what kind of life insurance

More information

Your policy conditions

Your policy conditions For customers Your policy conditions IP15 Personal Protection Welcome to Aegon Thank you for choosing our Personal Protection policy. We have been part of the Aegon group since 1994, linking Scottish Equitable

More information

Life Insurance Basics

Life Insurance Basics EBNY Financial, LLC Kevin Kautzmann, CFP Certified Financial Planner 80 Fifth Avenue #1403 212-269-2625 kevin@ebnyfinancial.com www.ebnyfinancial.com Life Insurance Basics July 08, 2014 Page 1 of 9, see

More information

You must always read the fine print of the contract and understand the limits or exclusion clauses.

You must always read the fine print of the contract and understand the limits or exclusion clauses. Life insurance Introduction This is an introductory guide to help you understand how life insurance works. It gives you basic information so that you can make an informed decision when purchasing life

More information

Income Protection Options Policy summary

Income Protection Options Policy summary Income Protection Options Policy summary This summary tells you the key things you need to know about our Income Protection Options policy. It doesn t give you the full terms of the policy. You can find

More information

Understanding Life Insurance

Understanding Life Insurance Understanding Life Insurance A Lesson in Traditional and Indexed Life Insurance 2012 VSA, LP Valid only if used prior to January 1, 2013. The information, general principles and conclusions presented in

More information

We understand you want to enhance your protection while enjoying yearly cashback

We understand you want to enhance your protection while enjoying yearly cashback SAVE We understand you want to enhance your protection while enjoying yearly cashback PRUflexicash protection plus Step closer to achieving your savings goals with our PRUflexicash protection plus endowment

More information

For financial advisers only Relevant life technical guide

For financial advisers only Relevant life technical guide For financial advisers only Relevant life technical guide Please note this communication is for financial advisers only. It mustn t be distributed to, or relied on by, customers. About this guide We ve

More information

plain talk about life insurance

plain talk about life insurance plain talk about life insurance The right life insurance can have an enormous effect on your life and the lives of those you love. It can mean the difference between leaving your loved ones well positioned

More information