What cover do I need?
Here are some scenarios that show the sort of life insurance needs that different people have and the types of policies that could suit them.
These are only for illustration purposes and we recommend that you speak to you one of our advisers to get the right cover for you.
John is 25 and has just bought his first house.
He has a mortgage of £125,000 which is over 25 years on a repayment basis.
He is self employed, working as an IT consultant.
| Need
|
Suitable policy
|
| A lump sum payment to clear his mortgage if he gets seriously ill
|
Critical Illness
|
| An ongoing income to allow him to maintain his lifestyle should be unable to work
|
Income Protection
|
Lucy is a single mother with a 2 year old daughter.
She currently has a mortgage of £60,000 on the property she is living in.
She works as a lecturer at the local university whilst her daughter attends nursery
| Need
|
Suitable policy
|
| A lump sum payment to pay off the mortgage if she were to die
|
Life Assurance
|
| An ongoing income to allow her to maintain her lifestyle should she be unable to work
|
Critical Illness
|
| An income to provide for her daughter until she leaves university in the event that Lucy is not around to support her herself
|
Family Income Benefit
|
| A replacement income for Lucy if she is unable to work due to long term sickness or serious accident
|
Income Protection (Accident and Sickness policy in the short term)
|
| Cover to maintain Lucy's mortgage payments should she be made redundant
|
Accident, Sickness and Unemployment
|
Peter and Janice are 35 and have 2 small children.
They own their property on which there is a mortgage of £135,000.
Peter earns £50,000 as an accountant and Janice is currently a full time mother.
| Need
|
Suitable policy
|
| A lump sum to pay off the mortgage should either Peter or Janice die
|
Life Assurance
|
| A lump sum to pay off the mortgage should either Peter or Janice suffer a serious illness
|
Critical Illness policy
|
| A replacement income for Peter in the event that he is unable to work due to long term sickness or serious accident
|
Income Protection
|
| A replacement income for Peter should he die
|
Family Income Benefit
|
Fred and Josie are both 68 and retired.
They have a small mortgage of £55,000 and both are in receipt of the state pension, although they mainly rely on Fred’s personal pension
| Need
|
Suitable policy
|
| A lump sum to pay off the mortgage should either Fred or Josie die. Should budget not stretch to both, Fred, as the main earner, would be the priority
|
Life Assurance
|
| A replacement income should Fred die that would allow Josie to maintain her standard of living
|
Family Income Benefit
|
Request call back
For a free, no-obligation life insurance review, you can speak to one of our expert advisers on:
0800 073 1932
Or request a call back: