Life Assurance
Providing for Your Loved Ones After You Have Passed
Many people want to ensure that their loved ones are provided for after their death and a Life Assurance Policy is one of the most common ways to do this.
What is a Life Assurance Policy?
Life Assurance is also known as a Whole of Life Policy purely for the fact that this runs for the whole of your life, rather than a fixed term like a Life Insurance Policy or Life Term Assurance Policy.
Premiums are paid monthly to the Insurer and upon the death of the policy holder, a tax-free lump sum is paid to the beneficiary/beneficiaries named by the policy holder.
Unlike Life Insurance, this policy pays out upon death of the policy holder whereas, Life Insurance/Life Term Assurance will only pay out if the policy holder dies during the term of the policy. If the Life Insurance/Life Term Assurance policy ends and the policy holder is still alive, then there will be no payout.
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Family Income Protection
A term insurance for regular financial support for terminal illness diagnosis or death
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