How Life Insurance Works

Family Protection

Family Income Benefit: This is a type of Insurance that provides a monthly income in the event of death. The benefit of a monthly plan is a monthly amount paid out which can be used towards bills to maintain your standard of living. 

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Level Term: This is a type of Insurance that pays a lump sum in the event of death. The amount requested at outset is paid out as a one off payment if death occurred prior the end of the policy.

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Whole of Life Insurance: This policy pays out a lump sum to your loved ones in the event of death. The sum of money received can be used to pay for the likes of funeral costs and associated bills or to meet an inheritance tax bill. This policy has no set term which means there is no end date and will only come to an end once death occurs. There are two types of whole of life insurance policies we can recommend, the difference is that one is underwritten and medicals are taken into consideration, the other is called an Over 50s plan which is guaranteed acceptance to anyone over the age of 50.

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Mortgage Protection

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Decreasing Term: This policy is designed to pay an amount to cover the outstanding debt on a mortgage. It is designed to decrease in line with your mortgage so it ensures that in the event of death, there is usually enough cover to pay off the outstanding mortgage. 

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Are you ready to discuss your plans?

It is important to review your existing plans annually to ensure you have the right level of cover in place. Book an appointment with us to review your policies or for us to provide you with advice on what policies you may need. Alternatively, please contact us on 0800 0495949 to arrange a mutually convenient time for a telephone discussion or Email us at info@pearlroseinsure.co.uk. There is no cost or obligation. We will have a chat about what you have or need and how you can save money on your insurance. 

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