Life insurance
Worried about the financial security of your dependants should something happen to you? With life assurance, you needn't be. Speak to one of our insurance advisers at Parklands Financial Advisers in Lowestoft today. We also cover King's Lynn, Cambridge and the wider East Anglia area. Get in touch today.
What is life assurance?
The main purpose of Life Assurance is to provide money for those people who may depend on you financially, in the event that something should happen to you. These people could include family members or business partners.
It can provide the reassurance of financial protection for you, your family and your business associates.
A Life Assurance policy pays out a sum of money when the person who is covered by the plan dies. The money is intended to pay off any outstanding debts and support your dependants financially by providing them with a further lump sum or a regular income if you die.
Even if there are no dependants who may be financially affected by your death, some Life Assurance policies could go towards covering funeral costs.
The type of Life Assurance and the amount of cover will depend on an individual's particular circumstances and requirements. Factors to consider will include age, dependants, level of income and financial liabilities.
Premiums are normally paid to the insurance company either monthly or annually for a fixed period of time or in some cases, until death.
Types of life assurance
While the overall concept of Life Assurance is fairly easy to understand, there are some complexities.
Most importantly, there are different types of Life Assurance products, covering Term Assurance, Whole of Life, Endowment policies and others.
However, because of the flexibility and the many options available, Life Assurance can be a powerful instrument in your financial planning toolkit.
Please be aware that in some cases this type of assurance is based on an assessment of the health of the applicant.
Please note
THESE PLANS TYPICALLY HAVE NO CASH IN VALUE AT ANYTIME AND COVER WILL CEASE AT THE END OF THE TERM. IF PREMIUMS CEASE, THEN COVER WILL LAPSE.
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Savings & InvestmentsProtect your interests and get that peace of mind by contacting our insurance advisers today. You can reach us by completing the form or by calling
LOWESTOFT- 01502 531 633
WOODBRIDGE - 01394 332 733
Kings-Lynn - 01553 770 090
Long Stratton - 01508 448 085
Norwich - 01603 858 580