The financial impact of your death can be taken care of by life insurance
"A qualified Broker can provide you with the advice and assistance to ensure you are properly protected"
Life insurance cover is a type of policy that will pay out a lump sum payment to your loved ones, should you become ill or pass away during the contracted term. It allows your family to deal with any financial worries, should the worst happen.
There are a number of types of life insurance cover, with each type having its own benefits for your family. By understanding the different policies available to you, you are able to make an informed decision and invest in the most suitable life insurance policy for you and your loved ones.
What are the different types of life insurance?
The most basic type of life insurance is called term life insurance, where you choose the amount you want to be insured for and the period for which you want cover. If you die within the term, the policy pays out to your beneficiaries. If you don’t die during the term, the policy doesn’t pay out and the premiums you’ve paid are not returned to you. There are three main types of term assurance to consider; level term, decreasing term and increasing term insurance. Sometimes a combination of these is the best answer.
Level Term: Level term pays out a lump sum if you die within the specified term. The amount you’re covered for remains level throughout the term regardless – hence the name.
Decreasing Term: Decreasing term means the amount you’re covered for decreases over the term of the policy. These policies are often used to cover a debt that reduces over time, such as a repayment mortgage.
Increasing Term: Increasing Term means the amount you’re covered for increases over the term of the policy, to offset the effect of inflation so that your family can make the most of your payment.
Standard Covers
Property
Contents
Business Interruption
Public Liability
Employers Liability
Optional Covers
Professional Indemnity
Abuse & molestation cover
Expert advice from Prima Insurance Brokers
With several years of experience and expertise across the not-for-profit, charity and education sectors. Clients can count on us as their in-house insurance advisers since we take the time to understand their organisation in depth creating a strong, trusting partnership.
We know the charity sector has a wide range of special risks, which can often be confusing. By drawing on our experience and knowledge, we can guide you through every challenge and complexity - from legal requirements to operational set up.
Benefits
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