Life Insurance in Bristol

Whole of life insurance is a type of life insurance policy that provides coverage for the entirety of your life, rather than a specific term. Unlike term life insurance, which only provides coverage for a specific period of time, whole of life insurance offers lifelong coverage.

Since this policy lasts your whole life and therefore is more likely to pay out, it is generally more expensive than term life insurance. Whole of life insurance is commonly used for family protection, as it ensures that your loved ones will have financial support in the event of your passing. It can also be used as part of an inheritance tax plan.

Term assurance is a popular type of life insurance that provides coverage for a specific period of time, known as the term. It is commonly used to cover mortgage payments in case the policyholder passes away. Our protection advisors in Bristol will recommend the sum assured (the amount of coverage) and term of the policy, which should align with the term of your mortgage. As long as you keep up with your monthly policy payments, the sum assured will be paid out if you were to die during the term.

There are two main types of term assurance policies: decreasing and increasing. A decreasing term assurance policy is typically used when the amount of the mortgage decreases over time. An increasing term assurance policy is used when the mortgage payments increase over time, for example, an adjustable rate mortgage.

Your insurance advisor will help you understand the differences and help you make a decision as to which option would be best for your personal situation.

Family Income Benefit is a type of life insurance that pays out a regular income to your family, instead of a lump sum, in the event of your death. The income is paid in monthly instalments over a specified period of time.

This type of policy is popular among families, particularly those with young children, as it provides a regular income to help cover living expenses.

When you work with one of our insurance specialists in Bristol, they will recommend a mixture of insurance types to suit your needs. This way, you and your family can get the most out of your new policy.

They will take into account your personal and financial situation and recommend a policy that provides the coverage you need, whether it be term assurance, whole of life insurance, or a combination of both. The specialist will work with you to ensure you have the right coverage in place to protect you and your loved ones.

Couples in relationships can look into getting a joint single-life policy, which pays out in case of the death of either party. This option is often more cost-effective than purchasing two individual policies, but it should be noted that it will only provide one payout and will terminate after the death of one policyholder.

A Death in Service policy, also known as group life insurance, is a benefit offered by some employers to their employees. This type of policy provides a lump sum payment to the employee’s beneficiaries in the event of the employee’s death while employed by the company.

It does not matter if the death was caused by any job-related incidents or not. This coverage usually ends when the employee leaves the company.

We ensure that all customers have the same opportunities to receive life insurance advice, which is why our insurance review is free of charge.

Scheduling a free initial appointment with one of our protection advisors in Bristol is also simple and convenient. Additionally, during the review, we will examine other potential coverage options such as critical illness and income protection.