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Life Cover

Thinking of what will happen after we die can be a daunting prospect, but Life Cover can provide you with peace of mind that your loved ones will be financially secure after you are gone.

Life Cover, (also known as life insurance or life assurance) is a type of insurance, where the insurer agrees to pay out a fixed lump sum to your chosen beneficiaries, in the event of your death in return for a monthly premium, paid throughout the life of the policy.

Life assurance can be taken out on your own life, or the life of another, as long as you can prove a financial relationship. In some cases
Life Cover can also be taken out for business partners.

The amount you will pay each month depends on a number of factors including, age, your current health and previous medical history, whether you are a smoker, who you would like to insure, occupation and length of cover. Should you decide to take out a joint policy you have two options as to how the policy will pay out. A ‘joint first death’ policy pays out on the first death of one of the lives assured, and a ‘joint last survivor’ policy pays out on the death of the last life assured.

There are varying types of Life Cover to suit your personal circumstances; from ‘Term Assurance’ that provides cover for a fixed period, to ‘Endowment’ policies and ‘Trusts’. For more information about what type of ‘Life Cover’ to choose, click on ‘Speak to an Adviser’.

This document is designed to provide you with general information only and does not attempt to give advice. This document is based on Online IFA’s interpretation of the Law and HMRC practice at April 2012. We try to ensure that the information in this guide is correct, but we do not give any express or implied warranty as to its accuracy. We do not accept any liability for error or omission.

Will Planning
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Income protection

There are no financial certainties these days and in the current economic climate it’s now more important than ever to protect yourself if you want peace of mind and security should the worst happen. In the event, you become unable to work due to illness, injury or disability, Income Protection Insurance is designed to give you a regular income.

If you purchase income protection you can vary how much you want to receive, up to a maximum of 75% of earned income. This is to encourage people to return to work once they have regained their health. If the amount received was more than the income the incentive to return to work is reduced.

The amount you will pay each month (monthly premium) depends on the level of cover you require. For example, ‘Own Occupation’ covers the policyholder, should they unable to perform their own occupation and is not working in any other job. Whereas ‘Any Occupation’ Income Protection Cover pays out should the policyholder be unable to perform any occupation.

The cost of the monthly premium also depends on a series of factors including age, your current health and previous medical history, whether you are a smoker, occupation and length of cover and deferred period i.e. how long after you are deemed incapacitated you want the payments to begin.

Income Protection Cover has various restrictions and will not pay out if the illness is as a result of drug abuse or self-harm. Pregnancy, war, or injury or illness as a result of criminal activity, will also not be covered.

To discuss what level of Income Protection Cover you require, click on ‘Speak to an Adviser’ today.

This document is designed to provide you with general information only and does not attempt to give advice. This document is based on Online IFA’s interpretation of the Law and HMRC practice at April 2012. We try to ensure that the information in this guide is correct, but we do not give any express or implied warranty as to its accuracy. We do not accept any liability for error or omission.

Critical illness

Although none of us like to contemplate the future should the worst happen, by obtaining Critical Illness Cover, you could safeguard your loved ones against financial hardships in the future.

Critical Illness Cover (Critical Illness Insurance) is a type of insurance policy that pays out a lump sum in the event you are diagnosed with a critical illness, such as a stroke, heart attack or cancer.

The amount you will pay to your insurer each month (monthly premium) depends on a number of factors including, age, your current health and previous medical history, whether you are a smoker, occupation and length of cover.

Critical Illness Cover can be “Guaranteed” or “Reviewable”, so you can choose to pay a typically higher premium in order to ‘fix’ your monthly payments for the duration of the policy. Critical Illness Cover can also be purchased alone or tied in with another insurance policy, such as Life Cover. You can also choose how long you would like your critical illness cover to run, whether you would like it alongside your mortgage or simply until the age you retire.

When you take out a critical illness policy, the insurer may require you to survive (without illness) for a typical period of 14 days.

Go ahead and enter your details today to see how much you could save with Online IFA or click ‘Speak to an Adviser’ for more information.

This document is designed to provide you with general information only and does not attempt to give advice. This document is based on Online IFA’s interpretation of the Law and HMRC practice at April 2012. We try to ensure that the information in this guide is correct, but we do not give any express or implied warranty as to its accuracy. We do not accept any liability for error or omission.

Life Cover with Critical Illness

No one likes to contemplate the future should the worst happen, but by obtaining Life Cover combined with Critical Illness Cover, you can certainly soften the blow.

Life Cover pays out a fixed lump sum to your chosen beneficiaries, in the event of your death and can be combined with Critical Illness Cover to insure your financial responsibilities are also covered in the event you are diagnosed with a critical illness, such as a stroke, heart attack or cancer.

The amount you will pay to your insurer each month (monthly premium) depends on a number of factors including, age, your current health and previous medical history, whether you are a smoker, occupation, who you would like to insure and length of cover.

For more information about what type of cover to choose, click on ‘Speak to an Adviser’.

This document is designed to provide you with general information only and does not attempt to give advice. This document is based on Online IFA’s interpretation of the Law and HMRC practice at April 2012. We try to ensure that the information in this guide is correct, but we do not give any express or implied warranty as to its accuracy. We do not accept any liability for error or omission.