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 mind, it makes sense to periodically review your cover with the help of a professional financial adviser. This section provides helpful information on the different types of protection product available.
McGarrie Vahey advisors have the knowledge and experience to help.
Critical Illness Cover
Although Critical Illness cover is sold by life assurers, there is a big difference when compared with life insurance – you don’t have to die to benefit from the Critical Illness insurance policy.
Income Protection Insurance
Although Critical Illness cover is sold by life assurers, there is a big difference when compared with life insurance – you don’t have to die to benefit from the Critical Illness insurance policy.
Level Term Assurance
The name says it all. It’s term assurance, as you only get a payout within the set ‘term’ e.g. 18 years. Its level, because the payout you get is fixed from the start of the term until the end.
Mortgage Life Assurance
Mortgage Life Assurance is designed to pay off the remaining mortgage debt on repayment mortgages if you die within a set period. It ensures your dependants need not worry about repaying the mortgage if you die.
Whole of Life Assurance
Whole of Life Assurance is designed to pay out in the event of death, whenever it occurs. The premium you pay can include an investment element which helps to pay for the cost of cover over time.
It is important to note that the value of investments and income from them may go down. You may not get back the original amount invested and the levels, basis, and reliefs of taxation are subject to change. The information provided on this website is not intended as an exhaustive guide.
*These products and services are not regulated by the Financial Conduct Authority (FCA).
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