Protecting your family still remains a key aspect of the financial planning process and at Foresight we adopt a sensible approach as part of our full financial review to establish a suitable level of cover to achieve a balance of cover required and cost.

As independent advisers we use market-wide research systems to source cover not only at a competitive cost, but also ensuring that product features and underwriting requirements most accurately meet client requirements.

There are four main types of life insurance:

Term Assurance: The simplest form of insurance that pays out a lump sum if you die during the term of the policy.

Family Income Assurance: this scheme can provide either an income for your dependents or a lump sum if you should die during the term of the policy. You should note that the income is only paid for the term remaining on the policy, so you may need to make additional arrangements to go on providing an income after the policy expires.  

Whole-of-Life Assurance: this type of policy is designed to pay out at the time you die whenever that should be. As long as you maintain the policy there is a guarantee that, on your eventual death, the sum assured (level of Life Assurance cover) will be paid to your Estate.

Premiums are usually paid monthly, occasionally annually but must be maintained in order to ensure cover remains
in place. 

The premiums for Life Assurance policies vary according to your personal circumstances such as age and medical history. Also your choice of Life Assurance Company can have an impact on the level of premium required.

Pension plans - personal or occupational - sometimes include Life Assurance, which would be payable if you died before reaching the retirement age set within your pension plan. Often in the case of occupational pension schemes the cover is expressed as a multiple of salary. Known as Death in Service. 

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