- Level Term Assurance. You choose the value of cover required and the length of the policy, and the premiums are calculated on that basis. If you die before you have finished paying in, the policy will still pay out the agreed figure.
- Whole of Life Assurance. This guarantees that your dependants will receive a lump sum upon your death at any point after the policy is signed, and is therefore a more costly product. The performance of premiums invested will dictate the projected cover.
- Critical illness cover. This offers protection in the event of critical or terminal illness that prevents you from working, and may be included within Life assurance. Not only a safeguard against loss of earnings, it can contribute to care and treatment costs and disability or mobility aids.
- Family protection. This is a practical means of helping families cope with the devastating loss of a loved one, covering such expenses as funeral costs and ensuring a regular income after the demise of a breadwinner.
- Private health insurance. Unless this is provided by your employer, it is worth considering the benefits of taking out private health insurance, ensuring that you receive specialised healthcare quickly should the need arise. In addition, your state of health will have a bearing on your premium levels for Life Assurance.
At Wealth Design, we can help you steer a path through the vital but tricky territory of insurance. If the right measures are in place, it makes for one less thing to be worried about in already stressful situations.