Life Assurance

Arranging a Life Assurance policy will give you peace of mind that your loved ones will have financial security after your death. It will provide a guaranteed lump sum on death to help your dependants’ clear debts; replace lost income; continue to pay for education and fund their living costs. The main considerations are:

  • The term of the policy. The insurance can be taken out for the whole of your life, so as long as the premiums are maintained, the guaranteed lump sum will be paid out whenever you die. Alternatively you can choose a fixed term, so payment of premiums and the insurance cover will cease after an agreed term such as 20 years
  • The level of cover – the amount of money that will be paid out on death.
  • The ability to build up a fund that can also be used in your lifetime. Some Life Assurance products do build up a cash value that can be used before death.
Optional benefits could include:
  • Additional Accidental death cover if the insured dies as an event of an accident.
  • Terminal illness cover that means that the insured can have access to an agreed percentage of the death benefit on diagnosis of a terminal illness.
  • Disability waiver of premium which means that the Insurer waives the premiums in the event of a disability that meets the definitions of the policy - giving peace of mind that the cover will remain in place even if the insured can no longer work and afford to pay the premiums.




Fidelity Life

Old Mutual



Whole Life

Endowment Plan

Educational Provider

Retirement Annuity Plan



Life Cash Back





Although the concept of Life Assurance is simple, a lump sum is paid out in the event of death, there are still many options to consider so it is important to compare the level and cost of alternative products before making the decision to buy.

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