Life Assurance

This is cover that pays out on death. Some plans pay upon earlier confirmation of a terminal illness where the prognosis is death within 12 months. Proceeds can pay out as a lump sum or as annual amount for the remainder of the policy term.

Cover can last for a set term called Term Assurance, or can last throughout life, called Whole of Life.

The amount of cover can remain the same or increase/decrease annually. Level term assurance stays the same throughout. Decreasing cover is sometimes used to cover a reducing debt, such as a repayment mortgage and usually assumes a given interest rate. Provided your mortgage rates don’t exceed that rate, then the cover should reduce at around the same rate as the mortgage. The amount you pay is called the premium. It can either be guaranteed not to change, or it can be reviewable.

Reviewable cover normally changes based on the claims experience of the life assurance company.

your next product

Ask us about the most suitable mortgage rates available for you

Don't miss this opportunity!
contact us
Where we are

6b St Nicholas Road, Barry, Vale of Glamorgan, CF62 6QW

THE PLAN USUALLY WILL CEASE AT THE END OF THE TERM. IF PREMIUMS ARE NOT MAINTAINED, THEN COVER WILL LAPSE. 

Privacy Notice

Romilly Park Wealth Management Ltd is an Appointed Representative of Quilter Financial Services Limited which is authorised and regulated in the UK by the Financial Conduct Authority (FCA) and are registered on the FCA Register with Firm Reference Number: 440703. Romilly Park Wealth Management Ltd is also registered on the FCA Register with Firm Reference Number: 835318.

Romilly Park Wealth Management Limited is registered in England and Wales, No: 11695251.  Registered Address: 6b St Nicholas Road, Barry, Vale of Glamorgan, CF62 6QW.

The guidance and/or information contained within this website is subject to the UK regulatory regime, and is therefore targeted at consumers based in the UK.  Tax Planning, Auto-Enrolments, Some Buy to Let Mortgages, Employee Benefits, Trusts, NEST, Commercial Mortgages and Risk Management are not regulated by the Financial Conduct Authority.

Approver Quilter Financial Services Limited 15/11/2024.

 

 

Copyright© WEBPRO all Rights Reserved · Website Designed, Developed and Licensed by WEBPRO