Protecting yourself

Commonly, people look to take out an insurance policy to provide an income for their loved ones when they die. Sometimes, they look to invest a lump sum of money (usually at least two thirds of their current annual income) to generate a level of income to maintain your family’s standard of living.

To do this, many people consider Level Term Life Assurance as a means of protection.

Level Term Life Assurance

Level Term Life Assurance is designed to provide a lump sum in the event of death during the term of the policy. You can choose the amount of cover that you want so you can ensure your family is well provided for and also how long you would like the policy to run for. Commonly, people link the term to length of time left for them to pay off their mortgage and/or to how long they think their children will be dependants).

To demonstrate how it works - if you die during the policy term your insurer will pay the amount you are covered for. If your policy is a joint life one, you set it up where the amount of cover will be paid upon the first death policy and the policy will typically cease.

As you fix the term of the policy, depending on your circumstances, cover will cease at the end of this set period of time and the policy has no value. An important factor to consider is that this policy won’t pay out until you have died - even if you are diagnosed with a critical illness beforehand (unless you have Critical Illness as part of your cover).

For more information about Life Assurance, simply call us on 0800 137 832.

 

If you would like us to call you, just click here.

Alternatively call:
0800 137 832

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To find out more about any of
the services we’ve mentioned
simply:

• Contact your SFS Financial Adviser
• Call a member of our Client
  Help Line on 0800 137 832
• Visit your local Skipton
  Building Society branch to
  arrange an appointment with
  an SFS Adviser

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