Everything you need to know about Level Term Insurance Term insurance may sound complicated to a lot of people and be overwhelming but that’s not necessarily the case. If you do plan to buy a policy you must ensure that you understand the difference and pick the right policy that meets your needs otherwise you will end up paying more term insurance premiums than you expect. Find out more in our helpful guide explaining in detail about Level Term Insurance and how it can financially support your loved ones if you pass away. What is a Level Term Life Insurance policy? Level Term Insurance is a life insurance policy where the policyholder pays fixed term insurance premiums throughout the...
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Types of whole of life and term life insurance policies With both whole of life and term life insurance cover, each is split up into different types of plans. Whole of life insurance can be found in two main types: Balanced cover - (Also known as standard cover or non-profit whole of life ) ensures that your policy premiums remain the same during your policy. One major benefit is that your policy will stay the same price from whenever you originally bought the policy regardless of any changes like age or health. Also, a fixed cash sum is paid out by your insurer when you die. Maximum cover - (Or with-profits whole of life ) This policy works so that your cover is linked to an investment...
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For personalised advice on life assurance in Liverpool and across the North West, including using this kind of product as an investment, get in touch with Martin Wilcocks. Martin is a highly experienced, award-winning adviser known for his practical and straightforward approach to financial planning. Call him today on 0845 200 4041 to arrange a consultation. Understanding how life assurance could work for you Life assurance is a lifelong policy, unlike fixed-term products like life insurance. It is designed to cover you until you pass away, whether it happens decades in the future or unexpectedly soon. This whole of life cover guarantees a payout at the end of the policy, which can help...
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Relevant Life Cover (RLC) allows employers to offer a death-in-service benefit to their employees. It’s a tax-efficient life insurance policy, set up by the employer and pays out a tax-free lump sum on the death (or diagnosis of a terminal illness) of the person insured. The proceeds go to the employee's family or financial dependants. This cover might benefit high earning employees who might exceed their personal pension lifetime allowance or have members of group schemes who want to top up their benefits. Setting up cover Relevant Life Cover is arranged on an individual and life-of-another basis with the employer as the policy holder, and the employee as the person insured. Many...
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Last we week we discussed the need for critical illness cover and this week I wanted to follow on from this and discuss Life Insurance Protection. It is very true that not everyone needs cover. Life insurance, however, for a family with small children, the need for this cover is obvious. If you have dependants, you need to look at the consequences for them if your income were removed. Your income pays for the mortgage or rent, for food, utilities, entertainment, holidays and maybe school and university fees. Without you, the family would need to source an income from elsewhere – which might mean children losing their carer or going out to work rather than entering higher education. Even if...
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Life Assurance What is Life Assurance and Why is it Important? Life assurance is a contract between a policy holder and an assurer, where the assurer promises to pay a capital sum on the death of the life assured to a specified beneficiary in exchange for a regular monthly premiums. As you take on more responsibility throughout your life, the need for life assurance increases. Whether you are buying your first property, starting a family or even if you just wish to reduce the financial burden of your death on loved ones, life assurance is an effective and in some cases necessary financial planning tool to help cover the financial burden on your death. Life assurance is a form of insurance...
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Assess your needs before buying long-term life cover Planning for the death of a spouse, or your own death, is a difficult and somewhat morbid task. Some would say it doesn't bear thinking about but, on the contrary, life-cover planning is essential for your family's future well-being. Without proper planning, the untimely death of a breadwinner can cause tremendous financial difficulty for his or her dependants. "A major source of income will cease but the household expenses will still have to be met," says Mr Roderic Mellotte, director, Coyle Hamilton Ltd. The number and type of life products on offer can be overwhelming. This issue is made more difficult by the various terms used in the...
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Life assurance allows you to make sure your family is protected in the event of your death, during the policy term. You choose the amount of cover you need and the length of time you want to be insured for. Your premiums will never change (unless you change the amount of cover held under the policy or alter the plan), allowing you to budget with confidence. Is Life Cover known under different names? Because Life Assurance is such a varied and flexible product, it can come under a number of different names. Each generally describes the covers aims however some are simply interchangable with Life Assurance: A general term used to mean the same as Life Assurance. The difference is that in the...
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SUN LIFE FINANCIAL MASTERS FLEX Sun Life Assurance Company of Canada (U.S.) and Sun Life of Canada (U.S.) Variable Account F offer the flexible payment deferred annuity contracts and certificates described in this Prospectus to groups and individuals. You may choose among a number of variable investment options and fixed interest options. The variable options are Sub-Accounts in the Variable Account, each of which invests in shares of one of the following funds (the "Funds"). Large-Cap Value Equity Funds Mid-Cap Growth Equity Funds Franklin Templeton VIP Trust Templeton Foreign Lord Abbett Series Fund Growth Opportunities Franklin Templeton VIP Trust Templeton Growth Small-Cap Value Equity...
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Mortgage Borrowing Calculator Please enter the income for the first and (if appropriate) second applicants and the maximum borrowing will be calculated YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE. These figures are only illustrative. An assessment of your needs will be confirmed before a recommendation can be made. A Key Facts Illustration, which is personal to your circumstances, will be provided if a recommendation for a mortgage product is made. Mortgage Payment Calculator Please enter the requested values, and then the monthly payment will be calculated YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE. These figures are...
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