Financial
Protection
Term Assurance is usually the cheapest and simplest form of life insurance. You are insured for a set term and amount until a mortgage or loan is paid off. Or alternatively it can be used for business purposes to insure a key person in the business. The policy pays out if you die within the term. If you don’t die within that time, you receive nothing.
Term policies can either be level or decreasing. A level simply means that the sum insured remains level throughout the term of the policy. If you die on the first day of the policy, you get exactly the same sum as you would if you died nearer the end of the policy. A decreasing term assurance policy on the other hand will pay out more at the beginning of the policy than it would at the end and decreasing term assurance would normally be used to provide cover for a capital and interest mortgage as it would decrease in line with your outstanding mortgage.
You can add other benefits to a basis term assurance policy, please contact Wayne to discuss you requirements and explain your protection cover in more detail.
We offer a fee only or fee/commission basis. Our charges are usually around £250.00.
You can contact Wayne on 01383 620222 to discuss your specific requirements or you can e-mail:
Morgans are happy to accept introductory commissions from insurance companies or procuration fees from lending institutions. However if clients wish to operate on a fee only basis we are happy to do so and our fees are normally 0.25% of the loan amount in mortgage cases and a minimum of £250.00 for all other business.
Your home is at risk if you do not keep up repayments on a mortgage or other loan secured on it. Your home may be repossessed if you do not keep up payments on your mortgage. Written quotations available on request. Deposit, life cover and other insurances may be required. All loans subject to status.
Morgans are Independent Financial Advisers authorised and regulated by the Financial Services Authority.
