This type of Term Assurance gives you the option, at the end of the original term, to extend the policy for a further term, without the need for Medical Underwriting. The new premium will be based upon your age at the time you take up the option. This type of cover is initially relatively inexpensive, but the premium will be higher than for ordinary term assurance and could rise substantially at the time of renewal.
Allows you to extend the insurance term when it comes to an end
The premium you then pay is based on your health at the time you took out the original policy, even if your health has subsequently deteriorated
A useful variation for dealing with the unexpected, such as a child who stays in full-time education for longer than you had anticipated.
This could also be a good option if you cannot, at present, afford the level of cover you need for the period you require. You could take out the cover you need but for a shorter period and, at the end of the period, you could take up your option for a further period. Premiums would then be higher because you would be older, but there would be no additional charge even if you had developed health problems.
Please be aware that in some cases this type of assurance is based on an assessment of the health of the applicant.
THE PLAN WILL HAVE NO CASH IN VALUE AT ANY TIME AND WILL CEASE AT THE END OF THE TERM. IF PREMIUMS ARE NOT MAINTAINED, THEN COVER WILL LAPSE.
Renewable Term Assurance
This type of Term Assurance gives you the option, at the end of the original term, to extend the policy for a further term, without the need for Medical Underwriting. The new premium will be based upon your age at the time you take up the option. This type of cover is initially relatively inexpensive, but the premium will be higher than for ordinary term assurance and could rise substantially at the time of renewal.
Allows you to extend the insurance term when it comes to an end
The premium you then pay is based on your health at the time you took out the original policy, even if your health has subsequently deteriorated
A useful variation for dealing with the unexpected, such as a child who stays in full-time education for longer than you had anticipated.
This could also be a good option if you cannot, at present, afford the level of cover you need for the period you require. You could take out the cover you need but for a shorter period and, at the end of the period, you could take up your option for a further period. Premiums would then be higher because you would be older, but there would be no additional charge even if you had developed health problems.
Please be aware that in some cases this type of assurance is based on an assessment of the health of the applicant.
THE PLAN WILL HAVE NO CASH IN VALUE AT ANY TIME AND WILL CEASE AT THE END OF THE TERM. IF PREMIUMS ARE NOT MAINTAINED, THEN COVER WILL LAPSE.
Wealth, just like your health, must be carefully preserved. Your assets need to be protected against the potential threats of erosion by taxation, the effects of inflation and investment risks.
...
Most of us face being taxed on our income, our capital gains, and in some circumstances the value of our estate when we die. Taxation can be very complicated and the rules, reliefs and allowances
...
When someone talks about savings and saving money, it could be referring to a piggy bank or a high interest deposit account. Savings are effectively cash or cash instruments ...
...
When you retire you still need food and shelter as an absolute minimum, but of course you will want to maintain the lifestyle to which you have become accustomed ...
...
Your mortgage is probably the largest financial transaction and commitment you are likely to undertake. Surely then you should seek mortgage advice which is individually tailored ...
...
The main purpose of Life Assurance is to provide money for those people who may depend on you financially, in the event that something should happen to you.
...
Health Insurance is probably one of the most important types of insurance you can own. Without it, an illness or accident can have serious long-term financial implications for you and your family.
...
This is an area of financial planning that is often overlooked. Traditionally, we have our buildings and contents insurance with our mortgage lenders, which may be uncompetitive ...
...
Professional Financial Planning is the process which aims to help you realise your ambitions - whatever they may be. As professional financial advisers we can help you make informed decisions ...
...
If you're over the age of 55, equity release offers you a way to use the value of your home to raise money. There is a range of equity release schemes available on the market offered by
...
All businesses are exposed to risks in their day-to-day operations. Without insurance cover to provide protection against some of these risks, businesses would find it difficult to operate ...
...
Estate and Inheritance Tax Planning
Estate Planning is often associated with inheritance tax mitigation. Whilst tax considerations are important, Estate Planning goes beyond this and is intended to preserve, protect ...