• Financial security for your family in the event of your death
• Protect your mortgage or loan
• All types available including, Basic Term, Renewable, Convertible and Whole of Life

There are many different types of Life Assurance policies available and choosing the right policy can be a difficult task. At Forum Wealth Management Ltd, we have years of experience in advising our clients on the most suitable policies.

People take out life assurance for many different reasons and these can include:

• To protect your mortgage
• To provide an income for your family if you die
• To allow your business to survive if you die
• To cover potential inheritance tax

There are many different types of life assurance:

Mortgage Protection
A type of Term Assurance policy that will pay off your mortgage if you die.

Level Term Assurance
Pays a lump sum to your family if you die during the term of the policy.

Family Income Benefit
A Life Assurance contract which instead of paying out a lump sum, pays out a regular amount for a certain length of time.

Convertible Term Assurance
Similar to a Level Term Assurance Policy, but can be converted into another policy such as an endowment or Whole of Life Plan regardless of any changes in your state of health.

Renewable Term Assurance
Allows a policy to be renewed beyond it's expiry date regardless of your state of health, but with a likely increase in premiums.

Endowments
These policies are typically used to fund a mortgage repayment and the premiums paid are then invested. The Endowment Policy is structured so that if bonus rates continue within the levels quoted, the maturity proceeds should be sufficient to repay the whole of a loan (usually a Mortgage), although this is not guaranteed. A Unit Linked low cost Endowment is a combination of a Unit Linked savings plan and a decreasing Term Assurance.

Whole of Life Policies
Unlike Term policies, these provide life cover without a set time period. It usually includes an investment option and premiums are determined on the age you are when you take out the policy and are usually subject to periodic reviews.

Level of cover required
The amount of cover you decide to take out will really depend on your financial circumstances and your outgoings. Our advisers will look at things such as mortgages, loans, living expenses, loss of salary and childcare when advising on a policy.