Cummins Financial Advisers Limited will listen carefully to your requirements to ascertain which level of protection is best suited to your needs. However, for your ease we have provided a brief explanation of the two main levels of Life Assurance protection, as follows:
1. ‘Term Assurance’ is designed to pay a lump sum or income if you die unexpectedly within a set period. ‘Term Assurance’ may offer a degree of financial protection to a spouse, partner, or dependents. ‘Term Assurance’ consists of two different terms. First is ‘Level Term’, where the sum paid will remain the same throughout the period of the plan. Second is ‘Decreasing Term’, where the sum paid reduces over the term in line with, for example, a mortgage debt.
(Term Assurance policies do not have a cash value, unless a valid claim is made)
2. ‘Whole of Life Assurance’ is designed to pay a lump sum when you die and provides cover throughout your life.
To find out more about Life Assurance advice from Cummins Financial Advisers Limited, please feel free to browse our website. Alternatively, for a no-obligation chat about your financial and life assurance requirements, please call 01244 571050 or click Life Assurance Advice to send us an email.
Please note: whilst we strive to ensure all life assurance advice given by Cummins Financial Advisers Limited is best suited to your long-term financial requirements, careful analysis of policy documents is advisable because insurances based on assessment of health and previous and / or existing medical conditions are unlikely to be covered.