Our team at Manor Financial have a wealth of knowledge and will work with your requirements and your budget, making sure you get the best policy available.
Life insurance is a way to ensure your family are taken care of in the event of your death.
It works by paying a set sum of money to the people you choose when you die. You might also hear life insurance called life cover or life assurance, but whatever the name, the function is the same.
In its simplest form, life insurance pays out a fixed sum to your family or chosen persons in the event of your death, as long as it is within the specified term of the policy.
You choose how long this term is and how much is to be paid out when you die. Each of these decisions will have an effect on the premium you pay, which is usually paid in monthly instalments over the term of the policy which can be from 10 years to sixty years.
Level Term: Level term insurance is the most common type of insurance and ensures that you’re covered for a fixed amount for the length of your policy.
Decreasing Term: Decreasing term life insurance is designed to pay off a repayment mortgage when the policyholder dies. It decreases in value over time as the mortgage repayments lower. The payout can go directly to the mortgage provider or to your beneficiaries.
Whole of Life: Whole of life is cover for the rest of your life, until you die.
Over 50s: Over 50s life cover is specifically for people aged over 50 and is also a whole of life policy.
Policy in trust (add-on): Putting something ‘in trust’ basically means giving it to someone responsible to look after until such time as the real beneficiary should have it. It’s a bit like giving your house to your children, but letting your spouse look after it until the children reach the required age.
Whether you are looking to take out a new life insurance policy or look at a Critical Illness Plan, our team can help with all questions. Just call our team on
0800 368 9671.
Get an insurance quote today!
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If you are happy with our service then what are you waiting for? Let your friends and family know about us. For every person recommended who takes a policy we will give £50 Marks & Spencers vouchers as a thank you.
Manor Financial is a trading name of Manor Financial Advice Ltd. Manor Financial Advice Ltd is authorised and regulated by the Financial Conduct Authority under registration number 810808. The company is incorporated in England and Wales (no. 07728991)
You will receive £50 Marks & Spencers vouchers once their policy has been completed and in place for a minimum of 6 months.