Whole of life assurance does not expire after a fixed term, meaning your family will receive a pay out no matter when you die.  Whole of life assurance is usually more expensive than a fixed term policy.

This type of policy normally pays a monthly or annual income to your family instead of a lump sum.

Both one-off payments and family income benefit can be 'written into trust*’, this ensures the money goes to the right people at the right time and often mitigates the issue of inheritance tax.

* The Financial Conduct Authority (FCA) does not regulate Trusts or Estate Planning

With decreasing term insurance you are covered for a set period of time but the level of the cover decreases every month until it reaches zero at the end of the term.

This policy is best for people who know their sum insured is decreasing. For example, if they have a repayment mortgage which is reducing the amount they owe month by month.

Level term insurance keeps you covered for a set period of time chosen by you when you take out the policy. It pays out a fixed amount if you die within the agreed term and is one of the most popular types of policy.

Level term cover is usually best for people who want to know their dependants will be provided for until they are old enough to take care of themselves.

In the last few years, life insurance costs have really come down. The Money Advice Service has said that now is a good time to shop around to see if you can get a better premium. We may be able to find you a better deal and if you do decide to switch we can help you cancel your existing policy at the right time, so your cover doesn’t lapse and your loved ones remain protected.

Yes.  It is really important that your cover remains up-to-date. Your life insurance needs will change over time and we recommend that you should regularly review your policy to make sure your premiums are still competitive and that you still have the right amount of cover.

Essential Insurance customers can contact us here at any time and we’ll be on hand to discuss changes in circumstances and advise accordingly.

Life insurance pay outs are exempt from income and capital gains tax, but are subject to inheritance tax, Essential Insurance can help you place your policy into trust* FREE OF CHARGE, to help mitigate this risk.

* The Financial Conduct Authority (FCA) does not regulate Trusts or Estate Planning

Our specially selected panel of insurers have been chosen for number of criteria, including their high pay out rates.  That said, there will be certain exclusions listed in your policy booklet, such as death from drug or alcohol abuse.

Yes.  Many couples prefer to purchase joint insurance, which usually works out cheaper than purchasing two separate policies.

At Essential Insurance we can provide cover for people up to 90 years of age. Although the cost of cover generally rises as you get older, we’ll find you the best deal we can.

Many of our customers choose policies with fixed premiums, so they are guaranteed not to rise and you’ll know exactly where you stand. However, we can agree lower starting premiums with insurance providers through ‘reviewable premiums’. These types of premiums don’t suit everyone because they can go up when they are reviewed on the fifth anniversary of starting your policy.

We’ll explain our recommendations and discuss all the options to make sure that we get you the right policy and type of premium for your needs.