Financial Protection and Life Cover

Financial protection insurance can deliver peace of mind to you and your family in the event of death, if you are too ill to work, or if you are diagnosed with a critical illness.

Income Protection

supplements your income if you are too ill to work
protects your lifestyle by covering your monthly outgoings

Mortgage Protection

provides for the term of the mortgage and a decreasing benefit to cover the outstanding mortgage balance
pays a tax free lump sum in the event of death to allow you beneficiaries to pay off the mortgage or protect your family's financial future

Level Term Insurance (Life cover)

provided for a specific period and at a constant (or increasing) level of benefit
tax free lump sum or income to family in the event of death
pay off the mortgage or provide for the family
variable benefits and payment terms

Critical Illness

provides a tax free lump sum in the event that you are diagnosed with a critical illness
pay off your mortgage
pay for a major operation
or receive a monthly "Family Income Benefit" to pay the bills
available to repay major borrowings
variable benefits and payment terms

Family Income Benefit

provides an income for your family in the event of your death

At Chase Templeton we will review your family's financial protection needs to give you peace of mind knowing that you are covered financially for every eventuality. We will give you access to the whole financial protection insurance market, offering you affordable products to meet your individual budget. Our expert financial protection insurance brokers will provide free, impartial advice to help you choose the most appropriate levels of financial protection cover and can answer all of your questions about the different financial insurance products on the market.

The insurance products listed above are the most popular forms of financial protection; however, they do not represent the entire range of life insurance cover on offer. The main purpose of life cover is to ensure that, in the event of your death, your family does not have to worry about money.

You have a range of choice when you take out life cover so that you can choose the amount of money you can afford to pay towards your policy. Your premium will be based on your age, health and other lifestyle factors as well as the amount of cover you need. As long as you carry on paying your premiums your family will be covered and should you die, your beneficiaries will receive the money tax-free.

You also have the option of taking out a life insurance policy jointly with a partner or spouse and of combining your life cover with critical illness cover.

If I already have a life insurance policy in place, am I paying too much?

The answer is probably "yes".

Why? Because premium rates for life cover have dropped substantially over the past few years and it is extremely unlikely that your insurer will have adjusted your payments.

You may not have benefited from a full comparison of insurance company premiums at inception of the policy, but when you apply for a quote through Preferred Medical, our financial protection specialists will do a full comparison of available insurance products to ensure you get the best life cover you can afford.

To find out more about Life and Financial Protection, phone us free on 0800 018 3633 or complete our enquiry form.

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Key Facts

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