Life Assurance
If your income helps to run a household then life assurance is a small expense that could ward off a major money crisis should the worst unexpectedly happen to you.
For as little as the price of a sandwich each week, the policy will pay out a tax-free lump sum on your death, providing some measure of financial security to the family and dependents you leave behind.
To ensure you get the right level of protection without paying over the odds, Pendergast Maguire will match your needs with life cover that typically falls into one of two types:
Whole of Life
As the title suggests, these policies cover you for life rather than a fixed term. Some will have an investment element, which allows for a lump sum to be paid if you cancel the plan, and can be designed to reduce your inheritance tax bill.
Term Cover
A cheaper option, fixed-term policies are ideal if you have a young family and want to ensure they are properly provided for up to the point when the children leave home.
The amount of cover can remain set at the same level or decrease as the term progresses, but nothing is paid back on the policy’s completion .
Use the calculator below to get an idea of how much your life should be insured for, over fixed periods of between two and 40 years.
Joint, Over 50s and Key Employee Policies
Life cover can usually be extended to include your partner at marginal extra cost, with arrangements to either payout in the event of just the first death, or on both deaths.
There are also polices availabe for Over 50s, who perhaps play an important carer role, and even small businesses for whom the loss of a key employee could have a devastating impact.
If you have any questions about these Life Assurance policies, drop us a line and we can arrange a meeting to explain all your options.
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Prendergast Maguire Financial Services Ltd |
A member of the Professional Insurance Brokers Association