Term Life Insurance in North Devon
For most people, term life insurance is regarded as something they might need, rather than must have as it is seldom fully understood.
Life Insurance is not something to be entered into without taking the right advice from an expert. This is because when you need Life Insurance the most, you want to know you have the correct cover that does what you need it to do.
At Aspire Financial Services, we undergo regular extensive training and have many years’ experience advising on Life Insurance. Whether it is a policy to cover a mortgage or to protect family and leave a legacy, you can trust the best advice from Aspire Financial Services.
Term Life Insurance
A Term life insurance policy leaves a pre-determined sum of money for your partner and family when you die. It can be received as a lump sum or in regular monthly instalments, providing financial peace during a time of uncertainty.
Many people put Life Insurance in place to pay off their mortgage on death, but they often forget the need to replace the income that has been lost.
- Level Cover provides a fixed cash sum. This will neither increase nor decrease over the term. Level Cover offers the certainty of knowing how much cover you have and for how long.
- Decreasing Cover provides a cash sum that reduces over time, in line with the decreasing value of your mortgage. This is the lowest cost option and is designed to cover your mortgage payments
- Increasing Cover provides a cash sum that rises by a set percentage or by the Retail Price Index (that tracks the value of money) each year together with your monthly premium.
Although every life policy in effect does the same thing, there are many other features within a typical modern policy that differentiates between different providers. Your adviser can go through these and help you to choose the one that is most appropriate for you.
- Policies that offer discounts and rewards for maintaining a healthy lifestyle,
- Policies that offer added GP services
- Policies that offer counselling, health screening, 2nd medical opinion.
How do I choose which policy is best for me?
At Aspire Financial Services we prepare a comparison report of the main added features and how the providers are ranked in each of these areas. In our consultation we will go through these with you and help you to match the provider to your requirements.
Book a free 30 minute consultation now.