Whether you need Life Cover or Mortgage Protection, Adelphi Financial Brokers can set up and advise on the full range of flexible unit linked and guaranteed life cover products that can be tailored to your individual needs.
There are a number of different types of plans available depending on your individual circumstances and the type of cover that you require.
The most common form of life assurance is mortgage protection, which is life protection cover, designed to pay back your mortgage in the event of your death. In most cases you are legally required to take out a Mortgage Protection plan if you have a mortgage.
This is the simplest and one of the least expensive forms of cover. At outset you decide on the amount of cover and the period of time – both are fixed. If you die before the end of the term the money is paid to your dependents and if death doesn’t occur during the term no benefit is paid and the plan ends.
Whole of Life
This plan insures you for the whole of your life or for as long as you keep paying premiums. Unit Linked is a type of whole of life product where part of your premium is invested in a fund – the growth on this is intended to match the value of your cover. The fund value is not guaranteed so your premium may increase to keep the amount of cover and benefits at the same level.
Guaranteed whole of life cover is also available and is used mainly for mitigating capital taxes payable on an Inheritance.
Your application may be affected by your age, the level of cover required, occupation, health, smoker status, pastimes or hobbies and other aspects of your lifestyle. Terms and conditions apply.
50+ Life Cover
If you are aged over 50 and not in good health, but wish to leave a lump sum to your family or loved ones, you can still take out life cover. You are guaranteed to be accepted and you will not be asked any medical questions. During the first two years the cover applies to accidental death only. After the first two years the full amount will be paid out on any death.