Independent Financial Life Planners Bishop's Stortford: Level-term Life insurance

Monday, 8 August 2016

Level-term Life insurance

Enable IFA’s in Bishop’s Stortford know most clients who have a family make sure they take on some life insurance. Sadly around one child in nearly 30 loses a parent before they grow up and the very natural grief and shock can be compounded by a loss of income and financial crisis. Thankfully life insurance is one of the cheapest and easiest ways to protect your family's finances should the worst happen in your family.

There are many different types of life insurance but one key insurance policy is taken out to provide money for your family if you or your partner dies, it’s called 'level term' life insurance. It’s the simplest type of life insurance and the name actually tells you all you need to know. It does what it says on the tin - Level means you always get a set amount paid out regardless of when you die during the term, eg, £250,000 and Term means you only get the pay-out if you die within a fixed term, eg, within 20 years or before you are 65. The insurance cover guarantees a lump sum pay-out upon death to your dependants within a fixed time, for example, £250,000 if you die within the next 20 years.

Obviously you can determine the Level and the Term to meet your individual requirements and suite the needs of your family or dependants best. Enable's IFA's can help you decide what the best policy is for your circumstances.

Source: Money Saving Expert

Issued by: Enable Independent Financial Life Planners •  25c North Street, Bishops Stortford, Herts CM23 2LD • Telephone: 01279 755950 - Fax: 01279 657339 Enable Independent Financial Life Planners is a trading style of Enable Independent Limited is authorised and regulated by the Financial Conduct Authority. It is important always to seek independent financial advice before making any decision regarding your finances. If you would like any assistance, please contact us. NOTHING CONTAINED IN THE ARTICLES SHOULD BE CONSIDERED AS GIVING INDIVIDUAL FINANCIAL ADVICE

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IFA Bishop's Stortford

At Enable Independent we know that our clients trust us and rely on our advice to help them to plan a better, more secure financial future. This is a responsibility that we take very seriously especially because we know that many clients have chosen us on the recommendation of friends and family. Each one of our advisers has deep expertise in their area of specialist knowledge and, as a team, we hold some of the highest qualifications available in the financial advice industry.

Our job satisfaction comes from using our skills to find workable, affordable and flexible solutions to meet our clients needs. Whether we are planning for known future funding requirements such as house purchase, school fees or income in retirement - or for the unforeseen such as job loss, long-term illness or early death, our independence from any product provider enables us to view the marketplace impartially. Our training permits us to look beyond a product's marketing hype and select on the basis of its fitness for purpose.