Life Assurance

Quite often you hear ‘it could never happen to me’ or ‘I’ll sort it out later’. Well the old maxim of “failing to plan is planning to fail” is no better suited to the ignoring of crucial decisions on protection.

What is it?

With some term insurance policies you can add additional options, for instance critical illness cover. If you do add on critical illness cover, the plan will pay out once on diagnosis of a qualifying critical illness or if you die during the term of the policy.


Who is it for?

Term assurance can protect your family from the financial implications of a personal tragedy and is particularly important if you have young children or dependents. It can be used to cover a mortgage, other loan or to ensure that your family is protected from the effects of having to repay a debt after the main breadwinner has passed away. As Financial Advisors we can help you find the plan that best meets your requirements.

If you are unsure of the difference between life ‘insurance’ and life ‘assurance’ here is a quick explanation of the two.

 -       Life Insurance; insures you for a specific amount of time so if you die whilst the policy is in force; the insurance company will pay the claim. However, if you’re alive by the end of your insurance term, the policy is finished and has no residual value.

-       Life Assurance; It is called ‘Life Assurance’ because assurance is when something is certain to happen, ie. in this case, your death. Therefore a life assurance policy pays out ‘when’ you die, not ‘if’ you die.


Life assurance policies usually have some investment value element to them, so that they build value over time. Advisers will let you know all about the options available.