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Following a free consultation and review of any existing policies, we research the marketplace to find the most suitable plan for you that will provide peace of mind and protection to you and your loved ones.

With the number of options available, deciding on the right policy without life insurance advice can be a daunting task.

Here we’ll take you through the basics, including key questions to ask yourself and the five main categories of insurance policies to choose from.

Questions to ask yourself Do my family rely on my income? How would my passing affect their financial security? Would it be feasible for them to continue living in our house? Would there be any childcare implications in the event that I died? These questions are a good starting point when assessing your needs and requirements for a Life Insurance plan.

There are five main types of life insurance. These are:

Level Term Insurance

Paid as a lump sum, this is a good choice of cover for those on a budget and received by your family if you die or are diagnosed with a terminal illness.

The lump sum can make up lost income, pay the mortgage or other bills and maintain your family’s lifestyle.

Decreasing Term insurance

This policy is also paid in a lump sum but decreases in time alongside your mortgage or loan.

It can be used by your loved ones to pay off your mortgage if the worst were to happen to you.

Increasing Term insurance

This policy is also paid in a lump sum but increases in time alongside inflation.

It can make up lost income, pay bills and maintain lifestyle for the long-term, as it increases in line with living costs.

Family Income Benefit

Family income benefit pays your loved ones with a steady income, by paying a monthly benefit instead of a lump sum, either as a decreasing term or level insurance policy.

Whole of Life Insurance

As the name suggests, whole of life policies pay out irrespective of when you pass away.

These policies involve some of your monthly premiums being invested by your insurance company into life funds and as the name suggests, pay out regardless of when you pass away.

To learn more about how we can help you achieve your financial goals, get in touch with one of the team today on 0191 491 4119 or info@sevenbridgeslife.co.uk