There is a vast array of protection arrangements in the market place designed to protect you and your family in every eventuality. These plans are designed to give you peace of mind, knowing your family will be financially protected if you were to die, contract a critical illness or be off work due to an accident or illness.
There are two main types of life insurance: term insurance and whole-of-life assurance.
Term insurance is the most popular and pays out a regular income or lump sum if you die within the policy term. It’s called ‘insurance’ because you’re taking out insurance against something that might happen during a certain period.
Whole-of-life assurance is different because your family can make a claim whenever you die. In other words, a claim is assured, hence the name, and the policy is guaranteed to pay out at that point, whenever it might be. Whole-of-life assurance is also used in inheritance tax planning, by helping meet the objective of minimising or potentially removing the possible impact of inheritance tax on an individuals estate.
There are also protection policies that will pay out on ill health and the two main types of policies are as follows:-
Formerly known as permanent health insurance (PHI), long-term income protection (IP) is an insurance policy that pays out if you’re unable to work due to injury or illness. IP usually pays out until retirement, death or your return to work, although short-term IP policies are now available at a lower cost. IP doesn’t usually pay out if you are made redundant, but will often provide ‘back to work’ help if you’re off sick.
Why choose us?
As Gilbert Stephens Financial Services Limited are Independent we research the ‘whole of market’ to ensure we obtain cover which best matches your individual requirements at the most competitive cost. Our advisers have access to the latest online comparison quote and transaction portal which has the widest provider and product coverage in the market. It enables us, as advisers, to undertake robust and accurate research enabling us to treat our customers fairly by searching the largest range of protection products
Please get in touch
E-mail: ku.oc1534406906.sfsn1534406906ehpet1534406906streb1534406906lig@s1534406906f1534406906 or contact one of our team.