Life assurance is a type of insurance policy designed to provide financial protection for your family in the event of your death. There are several different types of life assurance available, each offering different levels of cover and features.

Term Life Assurance:

This type of policy provides a lump sum payment to your beneficiary in the event of your death during the term of the policy, usually up to a set age. This type of policy is usually the most affordable way to provide life assurance cover.

Whole of Life Assurance:

This policy pays out a lump sum payment upon your death, no matter when it occurs. This provides a guaranteed amount of financial protection for your family, and is a popular option for those looking to provide financial security for the long-term.

Over 50s Life Assurance:

This policy is designed specifically for those aged over 50, and provides a lump sum payment to your beneficiary in the event of your death. This type of policy usually requires no medical evidence and is often a more affordable option for those aged over 50.

Family Income Benefit:

This type of policy pays out a regular income to your beneficiary in the event of your death, rather than a lump sum. This can be beneficial if you wish to provide your family with a regular income to help cover the costs of living.

Critical Illness Cover:

This type of policy pays out a lump sum in the event that you are diagnosed with a specified critical illness. This can provide financial support to you or your family at a time when it is most needed.

Joint Life Assurance:

This type of policy pays out a lump sum to your beneficiaries in the event of either policyholder’s death. This type of policy is usually taken out by couples, and can provide financial peace of mind for both parties. No matter which type of life assurance policy you choose, it is important to make sure that it meets your individual needs and provides the level of cover that you require.

It is also important to compare different policies and their features in order to ensure that you are getting the best value for your money.