Life Assurance

What is life assurance and what are the different types?

Business Protection

Secure the future of your business - protect your assets and plan for the unexpected

What Is Life Assurance?

Life assurance, often referred to as life insurance, is about providing financial security for the people you care about most.

It’s a simple but powerful promise: if the worst were to happen to you, your loved ones would have the financial support they need to carry on. That might mean covering the mortgage, maintaining their lifestyle, or simply giving them space and time to grieve without financial pressure.

In short, life assurance offers peace of mind, knowing that those you leave behind won’t be left struggling.


Do I Really Need Life Assurance?

That depends on your personal situation, but if someone relies on your income, it’s well worth considering.

Life assurance can help protect:

  • Your partner or spouse

  • Young children or dependents

  • Business partners

  • Anyone else who might be financially affected by your death

It can also be used to cover debts, funeral costs, or to leave a legacy behind. You might already have cover through work, but it’s important to know what’s included—and whether it’s enough.

Even if you’re single or don’t have children, life assurance can still form part of a wider financial plan, including estate or inheritance tax planning.


How Does Life Assurance Work?

In simple terms, you pay a monthly or annual premium, and in return, the policy pays out a lump sum, or regular income, to your chosen beneficiaries if you die during the policy term.

There are different types of cover:

  • Term assurance – covers you for a set period (e.g. 20 years); if you die within that time, the policy pays out

  • Whole of life assurance – covers you for your entire life and guarantees a payout, as long as premiums are maintained

  • Family income benefit – instead of a lump sum, this pays a regular income for a set period to your loved ones

The right type of cover depends on your needs, age, budget, and what you want to protect.


How Much Cover Do I Need?

It’s a personal decision, but here are some questions to help you work it out:

  • What debts would need to be paid off (e.g. mortgage, loans)?

  • How much income would your family need to replace?

  • Are there future expenses to plan for, like school fees or university costs?

  • Do you want to leave a financial legacy or gift?

It’s wise to build in a buffer for inflation or unexpected costs. And remember: the goal isn’t just to leave money, it’s to provide financial stability when it’s needed most.


I Already Have a Policy—Is That Enough?

Possibly, but it’s a good idea to review it regularly.

Your needs may have changed since you first took out your policy, new children, a new home, a different job, or a growing business. Life moves on, and your protection should move with it.

We can help you review your existing cover and check whether it’s still suitable. And if there are gaps, we’ll explain your options clearly and simply.


Protecting What Matters Most

Life assurance isn’t something we like to think about, but it’s one of the most responsible financial decisions you can make.

It’s not about fear. It’s about love. It’s about making sure the people who matter most to you are protected, whatever happens.

Need help understanding your options?
We’re here to guide you every step of the way.

Key Person Insurance

Key Person Insurance

Key person insurance is an important form of business insurance. There is no legal definition for 'key person insurance'. In general, it can be described as an insurance policy taken out by a business to protect that business for potential financial losses that could arise from the death or extended incapacity of an important member of the business specified on the policy.

Partnership Protection

Partnership Protection

One of the great risks of a business partnership is that one of the partners may die or suffer a specified critical illness, with his or her share of the business passing to their beneficiaries. The safety net is a pre-arranged scheme to ensure the surviving partners have enough funds to buy out the departed partner's interest in the business.

Relevant Life Plan

Relevant Life Plan

A Relevant Life Plan is a death-in-service benefit taken out by a company on behalf of an employee.

Shareholder Protection

Shareholder Protection

In the interests of financial security, business stability, and continuity - particularly for private limited companies where there may only be a small number of principal shareholders - it is important to provide a safety net following the loss of a shareholder

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