Protection

Protection in relation to insurance means many things, but few would argue that protecting your family and yourself are the most important areas. Life assurance, critical illness and income replacement cover are important ways of protecting you and your family at times of greatest need.  These vary in terms of outlay and the cover that they provide.  Life Insurance Life insurance pays a cash lump sum to your loved ones if you die, or are diagnosed with a specified critical illness (if critical illness option is selected at an additional cost), during the course of the plan. Term Assurance Term Assurance is a form of life insurance where you can choose the level and period of cover, and the amount you pay could remain the same throughout the plan term.  Term assurance has no cash -in value at any time.  There are mainly two types of term assurance. Level and Decreasing.  Level term assurance cover remains constant for the selected term of the plan. Typically used to protect the family.  A single lump sum is payable on the death of the life assured.  The benefits payable are tax-free.  An income can be arranged with the re-investment of the lump sum. Decreasing term assurance is typically used too protect a repayment mortgage.  As the overall mortgage debt reduces, the level of protection reduces proportionally.  This type of cover is the most cost effective type of life cover.  Both styles of plans can have added benefits attached to them to give an overall protection package.  How Burgess & Lee Can Help To discuss and calculate the right amount and type of cover needed, please contact one of our qualified advisers.  They will arrange a mutually convenient time to meet and discuss, in detail, your specific requirements.