) under reference 465124.
Life Assurance Products from Medident Financial Planning
Coping without you would be difficult enough for your partner or family, but without the security of your financial support it would be even harder. The money from a Life Assurance plan could enable them to:
- Pay off the mortgage.
- Repay other loans and credit cards debts.
- Cover funeral expenses.
- Invest it as a nest egg for the future, or to generate an income.
- Pay for children's education or child care.
- Manage other living expenses.
FACT
Over 20,000 people in the UK under 45 die every year, many leaving behind young families. Source: Office for National Statistics, 2007
What is it?
Life assurance is an insurance policy that pays out a lump sum or income if you die, or become terminally ill before the last 12 months of the plan.
We will explain how a life assurance policy can give you and your family greater financial security and discuss with you what would be the most appropriate cover. Here are some of the details you might want to discuss with us.
Level protection - you get a guaranteed amount fixed at outset. Please be aware that inflation will reduce the buying power of the level of cover you choose.
Increasing protection - the amount you get goes up each year in line with the Retail Prices Index (and so do your premiums). This helps you keep pace with inflation.
Reducing protection - for repayment of mortgages and loans. The amount you get reduces in line with how much you have left to pay on your mortgage or loan (assuming you keep up-to-date with your loan or mortgage payments).
Family Income Benefit - this pays the benefit in the style of a tax free income payable from the date of death for the remainder of the policy term and is usually used to protect the family while they are growing up. It can also be used to protect your pension should death occur early in retirement leaving the surviving partner financially vulnerable in the event of the pension stopping or reducing.
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