Life Assurance

Protect The Things You Value Most

Life Insurance is a great way to help protect your family from the financial worries they could face if you were no longer around. Life insurance pays out a cash lump sum if you die within the term of the policy. Cover is usually on a level or decreasing basis.

Level Term Assurance

This will give you the same amount of cover throughout the life of the policy and will pay out that amount if you make a successful claim.

Decreasing Term Assurance

This is sometimes known as Mortgage Term Assurance – the level of cover will decrease over the term, usually to match your decreasing mortgage amount (on a repayment based loan) and pay out the current amount when a successful claim is made.

Family Income Benefit

This allows the sum assured is paid as a regular tax free benefit (under current legislation tax year 2016/2017) rather than a lump sum. This can make it easier to pay for the monthly costs of running your household and covering school fees etc.

For Instance:

Your family could receive £3333.33 p/m tax-free, every month for the balance of a 21 year term from the time of the claim, for just £21.44 per month.

Source: 30/01/2017 based on a 34 year old taking a policy with Aviva, with a £3333.33 per month benefit over a 23 year term.

Actual costs will depend on individual circumstances and providers underwriting. (Based on a non smoker with a healthy lifestyle in good health)

Progress F S Ltd can help you decide whether you should take out life insurance, how much you need and how long you need it for. We can find the right policy for you.

Contact us to find out more.