Life insurance is a financial contract where policyholders make regular premium payments to an insurance company in exchange for a fixed benefit upon death.

Critical illness insurance is a form of insurance that pays out a lump sum of money if you are diagnosed with specific illnesses listed in your policy. Illnesses that are covered are usually long-term and very serious conditions such as:

• Cancer
• HIV
• Cardiovascular conditions such as heart attack
• Organ failure
• Neurological conditions such as stroke
• Disability such as loss of limbs.

• Benefit payments are tax free and can be used for any purpose.
• Term Life with Critical Illness has been designed to provide financial protection to:
  • Ensure a standard of living for your dependants such as continued living costs, school, and university fees.
  • Pay off outstanding mortgages or loans.
  • Cover funeral expenses.
  • Medical treatment costs
  • Cost of Living / Household Expenses
  • Loss of income

To calculate how much life insurance is, there are several factors that must be considered, namely your:

• Age
• Sex
• Health
• Lifestyle
• Type of life insurance policy (i.e., single or joint and the policy length)
• Amount of cover required
• Length of policy term

The best way to calculate how much life insurance cover you may need is to gain a quick quote from Annabel.

How much life insurance you need and type of cover required is dependent on your personal circumstances and budget available.

Our Robo Advisor Annabel can guide you to see your cover options here.

Yes, most life insurance policies pay for suicidal death after an initial qualifying period. By implementing the qualifying period, life insurance companies can reduce the financial incentive for someone to commit suicide and trigger a life insurance pay-out.

The main reasons why people choose to place a life insurance policy into Trust are:

• They can make it easier for your loved ones to avoid probate and therefore access your life insurance benefit payment.
• Any payout may not be subject to inheritance tax.
• Any payout will be protected and not automatically be used to pay off debts.

You are able place a policy in trust. Trust forms can be found here or by contacting us on 03300100210.